Justin Cash

Justin Cash is Money Marketing’s editor. He has previously worked for magazines including Citywire and Legal Week. He can be reached on justin.cash@centaurmedia.com or 0207 970 4776.

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KPMG in firing line over BNY Mellon audit

KPMG has begun its defence against a potential £12.5m fine for accounting failures dating back to the financial crisis. The Times reports that the Financial Reporting Council and KPMG underwent a tribunal hearing yesterday over the audit firm’s decision to sign off BNY Mellon’s accounts. The FRC claimed KPMG’s misconduct was a “truly exceptional case” […]

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Further fears expressed over future of British Steel

Further fears have been expressed over the future of British Steel as the firm looks to stave off insolvency this week. Sky News reported on Monday night that sources close to the firm were gearing up to put British Steel into liquidation as talks to secure emergency funding from the government had stalled. Reuters has […]

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British Steel on brink of collapse, reports suggest

British Steel could lapse into administration within days if an emergency government loan fails to materialise, according to reports. Sky News reports that British Steel – the second largest steel producer in Britain – is preparing for insolvency on Wednesday, with suggestions that it is becoming increasingly unlikely that funding will come through to safeguard […]

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Hammond warns no deal will ‘knowingly damage’ economy

Backing a no deal Brexit would “knowingly damage” the economy, chancellor Philip Hammond will warn in a speech to business leaders today. Hammond will use the platform at the Confederation of British Industry to criticise those pushing a for a clean break with the EU, saying they would be doing deliberate damage to the UK […]

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Foster Denovo makes another acquisition

National advice firm Foster Denovo has acquired London and Capital UK’s wealth business in its latest expansion deal. Foster Denovo will begin servicing London and Capital clients’ portfolios and two advisers will move across to the firm. While currently the clients receive wealth management solutions, Foster Denovo says that they may move into its wider […]

L&G, Aberdeen Standard and Baillie Gifford asked to put pressure on Amazon

Trade unions have called on some of Amazon’s leading shareholders to use their influence to fight for better working conditions. Legal & General, Baillie Gifford and Aberdeen Standard were among City heavyweights to hear presentations this month at the TUC’s head office from unions like the GMB, the Guardian reports. A dozen leading fund managers […]

Debt advice levy could see banks pay £100m more

Banks could be asked to contribute an extra £100m towards the cost of debt advice, under plans being pushed by the government’s new guidance service. Former FSA boss Sir Hector Sants, now chair of the Money and Pensions Service, tells the Times he is highly likely to demand an increase in the debt advice levy, […]

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FOS defends use of targets for caseworkers

The Financial Ombudsman Service has defended the use of targets for each of its caseworkers. In responses to a Freedom of Information Act request published online, the adjudication body was asked to provide weekly or monthly targets over the last quarter for each area of case work. In its response, FOS says that while it […]

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Is now the time for a DB transfer turnaround?

Falling transfer flows, regulatory jitters and fears over insistent clients are reshaping the Sipp market, our survey reveals Sipp providers have tightened up their defined benefit transfer processes, a Money Marketing survey suggests, and are turning away some business as consumer appetite also cools. Data suggests that DB transfers have started to die down from […]

Editor’s note: The phoenixing puzzle has a way to go yet

There are two jobs I really wouldn’t want at the moment. The first is Brexit secretary. The second is head of the FCA’s authorisations team. That team is a vital line of defence against financial crime. Part of its job is to stop suspect firms and individuals from getting regulatory permissions in the first place, […]

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MPs refuse to back down on contingent charging ban

The work and pensions select committee of MPs has reiterated its calls for action on contingent charging after the FCA’s decision not to take up its recommendation and ban the practice for defined benefit transfers. In a statement today, the committee says there has been “no change” in its view of the damage caused by […]