Labour MP Dr Ian Gibson MP is tabling an Early Day Motion, in the House of Commons, criticising the Home Information Pack. It is will be co-signed by Ann Cryer and Bob Spink.
The Menu will carry the Key Facts logo and is entitled 'Key Facts: A Guide to the Cost of Our Services', the FSA has revealed. Advisers will be obliged to hand it out to consumers at the beginning of the process alongside the Initial Disclosure Document explaining what time of advice they are permitted to […]
Jupiter is set to shake up the way groups develop funds by polling its key IFA partners about recent regulatory chan-ges in a move likely to prompt the group to introduce performance-related fees. In a radical departure from the way firms traditionally test funds, Jupiter is asking its distribution partners to comment on a range […]
Axa Investment Managers' new retail chief Simon Ellis says the group's recent fund launches mark the start of a concerted effort to bring to market products and services to suit IFAs' needs. Ellis, who recently became head of UK retail and multi-manager after leaving Henderson Global Investors, says the corporate bond fund and two multi-manager […]
The FSA has estimated that the additional one-off cost to firms of implementing and complying with the new Menu rules will be £39.75m. This will include the costs of management time, training costs, the rewriting of compliance manuals, and the system costs of preparing and updating the menu, amongst other things. The ongoing compliance cost […]
The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath.
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Vanguard and T Rowe Price have slashed valuations for their holdings in Uber by 15 per cent and 12 per cent respectively as the company faces corporate governance turmoil and searches for a new chief executive. However, rival Blackrock has increased its valuation in the unquoted ride-share company by 10 per cent, the Financial Times reports. Fidelity […]
One of the three cases lost by HMRC concerned Investec
Financial advisers are working to make sure clients are told about new tax evasion rules as part of a fresh crackdown by HM Revenue & Customs. IFAs must send letters to clients by the end of next week telling them that undeclared offshore accounts could land them in trouble with the taxman. HMRC’s message, which […]