The FSA has fined mortgage broker Gary Lester £103,000 for knowingly submitting 42 mortgage applications to lenders containing false income details and committing mortgage fraud to obtain a loan for himself.
Pictet Funds has launched a Ucits III European long/short equity fund based on an existing Cayman Islands-domiciled hedge fund strategy, the Corto European fund.
The euro has surged against the dollar and the pound after a deal was yesterday agreed between eurozone countries to put together a €30bn or £26.4bn loan package for debt-stricken Greece.
FSA pension-switching advice review
A Conservative government plans to fast track a competition inquiry into concentration in the UK banking sector, which could lead to the sale of stakes in state owned banks as early as next year.
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Latest from Money Marketing
A majority of independent financial advisers think there should be a single rate of tax relief according to this week’s Money Marketing poll. More than 120 advisers took part in the poll with 77 in favour of a single rate of tax relief, 39 against and six undecided. Yellowtail Financial planning managing director Dennis Hall […]
The FCA has issued a warning over ‘commoditised’ defined benefit pension transfers running the risk of unsuitable advice. In a letter sent to advisers holding pension transfer permissions, the regulator reminds planners that a “key area” of its focus is on pension transfers, and that it will later this year be contacting all firms to […]
Problems look set to arise for pension schemes operating relief at source