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Davis backs away from ABI investment role

Jonathan Davis has backtracked on his decision to become ABI director of investment affairs.

Davis, who was due to replace Peter Montagnon in the role last month, says “a number of other commitments” have prevented him taking on the position full-time.

He says: “I have agreed with the ABI that I will not, after all, be joining as its director of investment affairs. A number of my other commitments are unfortunately taking up more time than expected, making it difficult to fulfil this full-time role on the basis we originally discussed.”

ABI acting director general Maggie Craig says the organisation will work with Davis on a consultancy basis. Hugh Savill will continue as acting director of investment affairs, with an announcement on who will take the job on a permanent basis expected “in due course”.


Guernsey sets up Qrops code

Guernsey Association of Pension Providers has launched a draft code of practice on qualified regis- tered overseas pension schemes. GAPP code of practice group chairman Roger Berry says the code will ensure that people using Qrops schemes from Guernsey know what is permissible under HMRC regulations. The code tells advisers about the service and standard […]


FSA attacks IFAs’ FOS complaint “myths”

The FSA claims IFAs are wrong to use Financial Ombudsman Service statistics as evidence that the independent advice sector provides a better service than the banks. In its first RDR newsletter, the regulator says advisers should not use the fact they are only responsible for 2 per cent of all FOS claims as evidence for […]

FSCS lands Liontrust with £415,000 interim charge

Liontrust has been hit with a £415,000 Financial Services Compensation Scheme interim levy. The bill compares with a £20,000 annual levy for the firm the previous year and is part of the £233m required from inv- estment management firms, mainly to cover the cost of failed Keydata life settlement vehicle Lifemark. Investment advisers have been […]


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