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23 firms declared in default by FSCS

The Financial Services Compensation Scheme has declared 23 firm in default this month. It is encouraging consumers who may have lost money as a result of their dealings with any one of 23 firms recently declared in default by the Scheme to get in touch.

The firms came from across the country with 11 from London, one from the east, two from the Midlands, six from the North, and two each from Scotland and Wales.

FSCS chief executive Suzanne McCarthy says: “As the Scheme of last resort, this should be good news for those consumers who would otherwise have nowhere else to turn.”


Jupiter appoints retail marketing head

Jupiter has appointed Peter Hall as head of retail marketing. Hall joins from Fidelity, where he was senior manager, practitioner and IFA marketing. Joint managing director Gordon Davidson says: “Peter&#39s experience in UK retail marketing and fund distribution will make him a valuable addition to the marketing and sales team.”

MLIM chief Jones leaves company

Merrill Lynch Investment Managers head of UK retail Michael Jones is leaving the group this week, with MLIM refusing to comment on the reasons for his departure. Jones, who has been with MLIM for six years, is being replaced by marketing director Richard Royds, who joined the group in 1997 following its acquisition of Mercury […]

Birmingham Midshires – BM Solutions Buy-to-Let Variable Tracker

Type: Discounted rate buy-to-let tracker mortgage Discounted term: Three years Discount: 0.45% Payable rate: 5.25% Tracker term: Lifetime of loan Tracker rate: Bank of England base rate plus 1.95% Minimum loan:£25.001 Maximum loan:Up to 85% of valuation subject to a maximum of £1m, up to 75% of valuation subject to a maximum of £2.5m Income […]

Flight probes FSA fine-fee link

Shadow Treasury Chief Secretary Howard Flight is calling for the Treasury to provide accurate figures to reveal if IFA regulatory fees have gone down in line with fines paid by the sector. Flight is looking across all sectors regulated by the FSA to see if areas hit by big fines see fees fall. He has […]

Solving the income puzzle

There is a puzzle at the centre of financial markets. The global economy is growing, there are signs of inflation and interest rates are going up, yet yields remain low. In this article, James Foster, manager of the Artemis Monthly Distribution fund, unpicks this conundrum and looks at where investors can find income. There is […]


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