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Alternative for Park Row advisers

I imagine that most IFAs feel deeply sympathetic towards the plight of those ex-Park Row advisers whose re-authorisation the FSA appears to be prolonging without explanation. One can only surmise that the thinking of the FSA is that the victims a will eventually give up hope and drop all ambitions to resume their roles. One wonders how quickly their applications would be whisked through if the proposed new host
company was a bank.

One way forward may be to seek authorisation via a firm already authorised by a regulator other than the FSA, a non-UK regulator.

Several such firms are out there. Sure, an alternative regulator may well seek to establish with the FSA that the applicant is fit and proper but if the applicant has done nothing wrong and has no regulatory black marks against his name, then on what grounds would the FSA report the
applicant not to be fit and proper for re-authorisation?

Harvest IFM, Bristol


IMA urged to set up SRI fund sector

Aberdeen multi-manager fund manager Scott Spencer has called for the Investment Management Association to form a new sector for socially responsible funds. He says there are around 67 funds with some type of ethical remit, according to Lipper Hindsight, so the interest in the market warrants a sector and would stop funds being disadvantaged by […]

Eastern exposure

One thing you can say for sure about Eastern European markets is they are extremely volatile. Russia either ends up being the bestperforming market in the world or the worst. For instance, in 2008, it fell by around 80 per cent but in 2009 it went up by over 100 per cent. Generally speaking though, […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]


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