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Failings in FSA split-caps consultation

Professional body the Actuarial Profession says it has identified three main failing in the FSA consultation on split cap investment trusts.

The first of the three troublesome areas the Actuarial Profession says it wishes to tackle is the proposal to restrict investment in funds of funds, which it believes will solve problems associated with crossholdings.

The second is the negative effects this restriction could have on fund of funds businesses. Finally, the Profession disapproves of the FSA’s proposal to remove all non-independent directors immediately.


A question of compensation

Two articles recently caught my eye – Nick Bamford in the April 3 issue and Keith Popplewell in April 10.I have settled a handful of so-called pension misselling claims, two of which are really sticking in my throat – £2,400 for an ex Rolls Royce employeee and £35,000 for an ex BTR (now Invensys) employee.It […]

Brown sugar

Despite all the predictions, this year&#39s showpiece from Chancellor Gordon Brown was surprisingly upbeat. He insisted that the UK is well prepared to weather the economic storm and take advantage of any upturn in the international outlook.He even managed a few fiscal jokes. When tackling the thorny topic of raising the level of public-sector borrowing, […]

City Financial closed after Which? hunt

The FSA&#39s fine on Lincoln Financial Services comes two-and-a-half years after it offloaded its subsidiary, City Financial Planning.In October 2000, the Consumers&#39 Association published an article in Which? magazine accusing CFPL of not making its tied status clear when meeting clients.This sparked a PIA review, which led to last week&#39s £485,000 fine.Lincoln conducted an initial […]

&#39IFAs will lose market share to bancassurers&#39

Product providers are predicting that IFAs will lose market share to bancassurers over the next five years, according to a survey of delegates at the Institute of Economic Affairs&#39 life assurance conference.The poll of high-level life industry executives, consultants and FSA representatives shows that 87 per cent predict a marked increase in the market share […]

UK Equities: looking past short volatility

By Mark Martin, head of UK Equities, Neptune With markets facing numerous challenges this year, Neptune’s Mark Martin, manager of the UK Mid Cap Fund, and assistant manager Holly Cassell explain how they look past short-term volatility to focus on maintaining a strong long-term performance record. Read more here Important Information – for investment professionals only. […]


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