AJ Bell has hired Ryan Hughes from Apollo as head of fund selection. In the newly-created role, Hughes will build on AJ Bell’s investment solutions and will join the team running the managed portfolio service for advisers. AJ Bell’s investment management business was created earlier this year following the acquisitions of Indexx Markets and Mansard […]
The FCA has proposed to ban independent advisers and portfolio managers from accepting payments from third party firms on investment research. According to the third FCA Mifid II consultation paper, published today, only certain research products such as commentary on market moves or company results may be exempt as “minor” and “non-monetary.” Mifid II will […]
Royal Bank of Scotland has run up legal costs of over £100m in its bid to defend claims it misled investors ahead of the bank’s collapse in 2008. The Times reports the action being led by the RBS Shareholder Action Group has so far cost the bank £86.2m, according to court filings by RBS’s lawyers […]
The FCA was hit by a widespread IT outage on Friday which affected its regulatory reporting system Gabriel. In a statement, the regulator says most of its systems are now operating again following a “physical hardware incident” at a supplier’s data centre.” The FCA says: “We put in place our recovery arrangements and they have […]
Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.
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