View more on these topics

Competition should be objective to avoid more consolidation

Which? has called for the Prudential Regulation Authority to be given a primary competition objective to ensure it does not contribute to market consolidation.

Giving evidence to the Treasury select committee last week, Which? principal policy adviser Dominic Lindley said the objective is important following the increase in market concentration in the wake of the Lloyds TSB-HBOS merger. He said: “Without a competition remit, there is always the danger that resolution will involve increases in con-centration and reductions in competition.”

Consumer Focus chair Christine Farnish said: “A competition objective properly set out in a statutory remit tempers the temptation to do more regulation and write rules if it is not going to solve the problem.”

She said: “Effective competition is not a narrow way of looking at how many providers, supplier and products there are but at whether consumers have got informed choice, can exercise their market power to buy good stuff and put bad pro-viders out of business.”


SimplyBiz to offer firms buyout deal

SimplyBiz has launched a practice buyout initiative offering IFAs the ability to transfer clients to its non-advisory service Capital Rewards Plus or to a panel of IFA firms if the clients require ongoing advice. The firm says the initiative is aimed at IFAs retiring from the industry, those who are segmenting a client bank ahead […]

Novia appoints compliance head

Novia has appointed Chris Blakeley as head of risk and compliance. Blakeley will be responsible for managing regulatory risk for the business working on the Aegon platform delivery and will report to Novia chief operating officer Richard Denning. Aegon announced in March that Novia would provide the administration for its platform for up to five […]

Schroders announces £101.6m pre-tax profits for Q3

Schroders has announced pre-tax profits of £101.6m for the third quarter of 2011. The figure is up on the £94.5m in the third quarter of 2010. Profit before tax for the nine months to September 30, 2011, stood at £317.3m, up from £282.7m in the nine months in 2010. Asset management revenues for the third […]

Aifa £190k in deficit despite cutting costs

Aifa has reported an operating deficit of £194,419 for the year to June 30 compared with a small surplus the previous year as the trade body considers a restructure of its funding. Its annual results, revealed on the Money Marketing website this week, show turnover has dropped by 12 per cent from £1,853,393 to £1,629,319. […]

The Natixis Solution: H2O MultiReturns Fund

A product designed to bring some unique attributes to the crowded absolute return global macro space With diversification and risk management top of investors’ wish lists when it comes to alternatives, step forward the H2O MultiReturns Fund. H2O Asset Management is an independent boutique backed by Natixis Global Asset Management and has a 14-year track […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm