The FSA has appointed two new members to the Financial Services Consumer Panel. Citizens Advice generalist adviser Carol Stewart joined the panel June 1 and Mail on Sunday journalist Tony Hetherington joins January 1 2005. FSA chairman Callum McCarthy welcomed the two new members and said the panel will continue to act as a strong, independent consumer voice.
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Lenders unsure of electronic reporting requirements
Lenders are unsure of what they will be asked to do to comply with electronic reporting requirements according to Focus Solutions. Focus' s latest survey shows that 88 per cent of lenders feel their organisations are ready for mortgage regulation but when it came to mandatory electronic reporting 58 per cent of the respondents thought […]
ABI says rise not generous enough
The ABI says the Government has not been generous enough in raising the price cap to 1.5 per cent though it describes the move as a step in the right direction. ABI director general Mary Francis says: “The decision is a step in the right direction. The Government has recognised that the one per cent […]
Bank of England warns of property crash
Bank of England governor Mervyn King has warned Britons buying a home to be wary of a possible housing market crash. Speaking to the Scottish CBI King said the rise in house prices over the past five years had taken the ratio of house prices to earnings to new record levels, unsustainable in the long-term. […]
MPs told that shock rise in rates is needed to stop property spiral
Leading economist Roger Bootle has told MPs that the Bank of England monetary policy committee needs to shock housebuyers by raising interest rates. Speaking at the Treasury select committee meeting last week, three of the UK's leading housing market economists expressed concerns about the impact on the economy of a collapse in the housing market. […]
Bond market review and outlook – Q3 2016
Loomis Sayles’ Macro Analyst, Craig Burelle, discusses the key takeaways for bond markets during Q3 2016 and looks at the outlook for global growth and inflation. Click here
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Investors ‘ignored’ by LC&F linked mini-bond provider
Some investors holding money with Blackmore Bonds are yet to receive July interest payments, despite the firm’s insistence all funds have been transferred and cleared. One such investor has told Money Marketing they have been “ignored” by Blackmore. Chief executive of the mini-bond provider Patrick McCreesh told Money Marketing this week that some investors holding Isas […]
Platforum: Taxing times for rebates
Rebates have been confirmed as taxable this month, in the long-running clash between Hargreaves Lansdown and HMRC. This effectively confirms “superclean” share classes are the most tax-efficient mechanism for delivering preferential rates on funds, rather than the oxymoronic “clean with rebates”. Asset managers will be very reluctant to implement multiple share classes at varying prices […]
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Collapsed Sipp administrator has £1m in liabilities
Collapsed Sipp administrator GPC Sipp has nearly £1m in debts owed to creditors according to a statement of affairs document published on Companies House. It shows there is a shortfall of £964,832.00 owed to creditors and most of the Sipp shares are owned by managing director Kathryn Taylor who holds 73 shares. The others are […]