Justin Cash

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FCA: Advice boundary ‘almost impossible’ to define

The boundary of where financial advice starts and information begins is “almost impossible” to define, the FCA has said. Speaking at the FCA’s annual public meeting this morning, chair Charles Randall noted the difficulties of defining the advice perimeter in the context of the recent collapse of mini-bond provider London Capital & Finance. Treasury to […]

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FCA to invest £5m in register

The FCA is investing £5m in its register of regulated firms, chief executive Andrew Bailey has said. Speaking at the watchdog’s annual public meeting this morning, Bailey said that he recognised “there are data quality issues” in the list, but the FCA was aware how important in can be to give consumers information. Bailey said […]

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FCA: Firms involved with Woodford ‘not following spirit of rules’

FCA chief Andrew Bailey has accused  some firms involved with Woodford’s suspension of not following the “spirit” of the regulators rules. Speaking at the FCA’s annual public meeting this morning, Bailey said culture and accountability was becoming increasingly important to the regulator over box-ticking exercises and a overly-tight interpretation of the rules. Bailey said: “Any […]

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Johnson courts fund bosses on way to premiership

Front runner in the race to be prime minister Boris Johnson has courted wealthy private equity and hedge fund bosses in an exclusive breakfast meeting, according to Reuters. Johnson raised donations for his leadership campaign in the gathering last Tuesday, according to sources familiar with the matter. The breakfast took place at private members club […]

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Transact parent appoints new chair

Transact parent Integrafin has appointed a new chairman. Richard Cranfield, a partner that magic circle law firm Allen and Overy, will join the board as a non-executive director and chair-elect with effect from today. Cranfield is set to take over the role of chair sometime around the end of Integrafin’s financial year after a handover […]

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Pensions minister slams fund managers over pay packets and diversity

Fund managers have been criticised for failing to take action on executive pay at the companies they invest in. A new report from the Association of Member Nominated Trustees finds that less than a quarter have a specific policy on voting against excessive pay. Meanwhile, over half of managers failed to disclose a clear policy […]

Fundsmith tops £800m for investment trust launch

Fundsmith has raised more than £800m for the launch of its new investment trust, Smithson. Trading for the new vehicle overseen by star manager Terry Smith, who put £25m of his own cash into the project, is expected to go live on Friday. Fundsmith plans to target smaller and mid cap opportunities with the investment trust, […]

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Editor’s note: Brexit views boil down to business for advisers

In the public’s imagination, the stereotypical adviser is, lamentably, a middle-aged, middle-class white man running a traditional business. That traditional business, Joe Public would assert, probably comes with a traditional world-view when it comes to issues like immigration, sovereignty and European “bureaucracy”. The results of a Money Marketing research project canvassing adviser views on Brexit […]