View more on these topics

Archbishops condemn short-sellers

The Archbishops of York and Canterbury have condemned the practices of City traders and backed the FSA’s ban on short-selling.

In an article for the Spectator, Archbishop of Canterbury Dr Rowan Williams slammed “paper transactions with no concrete outcome beyond profit for traders” and said that these practices could cause “real and crippling damage”.

Meanwhile in a previous speech, the Archbishop of York, Dr John Sentamu, called the traders that profits from banks’ demise “bank robbers and asset strippers”.

Association of Private Client Investment Managers and Stockbrokers chief executive officer David Bennett says he welcomes the Archbishops’ interest in the sector but that their criticisms of short-selling are unfair.

He says: “It is market abuse which is wrong and this can occur both when holding either long or short positions.”

“Transparency is the key here. Markets need both the views of people who think the share price is going to fall as well as people believing the market will rise in order that the markets can function efficiently.”


Make a smart move

Pension consolidation has been a common theme since A-Day, with many advisers reviewing their clients’ existing pension arrangements. The changes to pension regulation that come into force from October 1, which will allow much greater freedom for the self-investment of protected rights, will only increase activity in this area.

Go by the board

Ibet that shareholders in Edinburgh Investment Trust cannot believe their luck. Having seen their holding struggle in recent times, it now has one of the UK’s leading fund managers, Neil Woodford, running the show.

Protection principles

Clients with pre-A-Day pensions can register the A-Day value of those funds for protection to safeguard themselves from paying hefty tax charges if their pension fund grows beyond their available lifetime allowance.Failure to register for protection could be costly for clients who may be subject to a lifetime allow-ance charge of up to 55 per […]

Cazenove’s strength in diversity

With the credit crunch taking victims left, right and centre, it has not been the easiest 12 months in the investment industry but the multi-manager pairing of Marcus Brookes and Robin McDonald can look back happily at a job well done.The pair took on the hefty task of replacing a five-strong Swip-bound team headed by […]

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm