This is a world in which human and computer error can add an extra nought or move a decimal point all too easily.We hear that the regulator itself may have made just such an error with one of the biggest advisers. We suggest you check your bills very carefully.
Which? is urging the FSA to significantly increase the fines it imposes on companies found guilty of misselling. In a report this week, the consumer campaign group says it wants penalties to be big enough to alarm institutional investors into putting pressure on companies to prevent future misselling.
Barry Norris and Oliver Russ have grown Britannic’s Argonaut European alpha fund by 21 per cent in their first three months and plan a November launch for their equity income product. Since joining Britannic from Neptune in May, the pair have kept the fund 7 per cent ahead of the MSCI European index and won […]
Many lenders have yet to respond to this month’s base-rate cut. For most, the delays are attributed to Halifax wrong footing the market. The last two interest-rate cycles have seen lenders widening their margins by failing to pass on the full effect of base-rate decreases, yet they pass on the full impact of any increase. Many in the industry expected this cycle to be repeated.
The investigation being conducted by HMRC’s offshore fraud projects team does not mean that UK investors cannot hold offshore accounts but individuals who are resident and domiciled in the UK must report their offshore accounts to HMRC.
Even over the long term, real interest rates aren’t expected to rise much above 1 per cent. So where may investors find income? James Foster and Jacob de Tusch-Lec, co-managers of the Artemis Monthly Distribution Fund, examine the opportunities Last December, the Bank of England asked two big questions. First: how far have ‘real’ interest […]
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]