Aifa has called on the FSA to give help to IFA firms on how to use guidance in place of rule-based regulation. It calls on the regulator not to widen Mifid beyond its present boundaries without looking in detail at possible market implications.
The FSA has fined Mansion House Securities Limited £122,500 for giving customers unsuitable and inaccurate advice when selling higher risk shares.The FSA reviewed 30 recommendations relating to higher risk shares, made by Mansion House between May 2006 and January 2007 and found the firm’s advisers had given customers inaccurate information and failed to highlight the […]
Openwork is the first major retirement adviser firm to include fixed-term annuities in its product range by teaming up with Living Time to offer the plans as an alternative to lifetime annuities.
Zurich International Life has added 38 more funds, including 130/30 and currency funds, to its investment platform.The three 130/30 funds include the Invesco Pan-European 130/30 equity fund and DWS Investments’ emerging markets equities 130/30 and top 50 Asia 130/30 funds.Zurich says the currency funds, which come from Morgan Stanley, allow investors to allocate currency as […]
The Government says it will launch a consultation on updating the Myners principles in response to the National Association of Pension Fund’s recommendations. HM Treasury, the Department for Work and Pensions and The Pensions Regulator have launched the consultation to update the voluntary set of ‘comply or explain’ principles designed to improve trustee investment decision-making […]
We are living longer and retirees are no longer required to buy an annuity. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham explores how changes to pensions freedoms are expected to impact the demand for income. Click here
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Lawyers who represent investors against Berkeley Burke over allegations of mis-sold Sipps estimate more than 1,000 claims could be in the pipeline. The High Court has approved a group litigation order relating to claims against Berkeley Burke Sipp Administration, and those affected have until 23 July 2018 to register to join the group action. It […]
Do not be spooked by recent falls. The bull market has further to run. Stockmarkets have been thriving in the not-too-hot, not-too-cold “Goldilocks” backdrop of the last few years. Growth has been strong enough to boost profits, and inflation low enough to keep central bank policy loose. Recent stockmarket weakness is centred on signs that […]
The FCA continues to engage with the asset management industry on new European regulations as questions remain over how firms should report costs and charges. After over a month since Mifid II and Priips came into force, concerns have been raised on how fund fees, in particular transaction costs, should be calculated under the two […]