Summer may have been fairly miserable but there has been a golden ray of sunshine for every IFA firm since the FSA board met in July and approved proposals to reform the Financial Services Compensation Scheme. It is also good news for consumers who will benefit from a scheme, now given a new lease of life, which will offer some financial recompense when no one else can. The FSCS is a vital regulatory safety net which helps maintain consumer confidence in our industry.
A former executive of a British-based engineering and transport group has been convicted in South Africa of defrauding the company’s pension fund.Rowland Bailey pleaded guilty to charges of fraud and money laundering when he appeared before the Johannesburg commercial crimes court last week and his wife, Shirley, admitted money laundering charges.The court was told that […]
Unity Homeloans will continue to be funded by Investec when it relaunches its sub-prime product range. Unity chief executive Paul Thomas, who has been seconded from Investec as a replacement to former ceo Ian Nelson, says the firm is working on its next securitisation issue and new range of products.
Survey reveals three-fifths of people with potential inheritance tax bill unaware their estate may be liable for IHT Over half don’t know that IHT rate is charged at 40 per cent Record HMRC tax receipts show that families are losing out due to lack of knowledge 78 per cent believe wealth should stay in the hands of […]
Invesco Perpetual leads the latest edition of the infamous Spot the Dog report, which identifies underperforming equity funds, as the number of dogs hits a record high. In its bi-annual Spot the Dog report, Bestinvest names and shames funds that have underperformed their benchmarks for three consecutive years and by more than five per cent over […]
Most firms regulated by the FCA are satisfied with its performance and believe it is an efficient regulator, the watchdog has said. The survey conducted by the FCA and its Practitioner Panel – one of its advisory bodies – sought feedback on the regulator’s performance from the firms it oversees. The results showed that both satisfaction and […]
Investing at this stage of the market cycle is a tough balancing act. While over-exposure to risky assets leaves a portfolio vulnerable when a correction really bites, taking too much risk off the table too soon can mean missing out on the remaining opportunities which may still present themselves over the coming months. With so […]