The Diary hears a shocking rumour that cannot possibly be true from Edinburgh where Scottish Widows is said to have become so embarrassed with the drinking exploits of its staff in Edinburgh that it is to open its own private bar to keep its marauding troops away from the public.The company has been granted a licence for its Morrison Street building, with a local paper quoting a councillor suggesting that there would be less bar trouble locally without the “very rowdy staff” from the company.
IFA Promotion has been awarded a Plain English Campaign Award for its consumer guide Financial advice: The buzzword is independent. The guide, aimed to clear up any confusion surrounding financial advice after depolarisation, topped the 2005 Plain English category as one of the years clearest documents.
The FSCS is set to refund a surplus of 42m to relevant firms in the general insurance contribution group before the end of the financial year 2005/6. This is partly a result of lower than anticipated compensation payments in the sector. It is also unlikely to raise a levy in 2006/7.
Commodities have seen huge rises, driven by demand from countries such as China and India
PricewaterhouseCoopers is warning product providers to expect a significant drop in sales in the final quarter next year as advisers str- uggle to comply with the European Union’s Markets in Financial Instruments directive. PWC says providers should anticipate a slowdown in business similar to the interruption caused by the introduction of mortgage regu- lation last […]
Three of our UK fund managers – Adrian Frost, Ed Legget and Mark Niznik – discuss the EU referendum and how it is affecting their portfolios. Click here for article
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Sesame must compensate a client who complained she was missold a personal pension by one of the network’s former appointed representatives. According to a Financial Ombudsman Service decision, in 2002, Mrs P met with an adviser of a business that was at the time an appointed representative of Sesame. Following this meeting Mrs P agreed […]
Financial advisers need to engage in less systematic risk tolerance testing to position clients for high investment returns, according to risk profiling firm Oxford Risk. Speaking at a FinaMetrica/miPlanPlus event today, Oxford Risk head of behavioural finance Greg Davies says suitability across the industry is “rife with poor practice”. Davies says the most common adviser […]
The FCA is attempting to ban the boss of a debt management firm for allegedly using client money to purchase the business. Darren Lee Newton purchased First Step from former director Christine Whitehurst in 2013. The FCA argues he funded the deal through client money rather than out of his own pocket. Newton allowed more […]