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FSCS to pay back 2,700 clients of collapsed DFM Beaufort

The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]

FCA reduces authorisation times as consumer credit stabilises

The FCA has reported a slight fall in authorisation times for retail investment firms as it continues to work through a backlog of consumer credit cases. The average time for an authorisation to be processed was 11.2 weeks in the third quarter of 2017/18, down from 12.7 weeks the previous quarter. However, the maximum time […]

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FCA to probe Aviva preference shares plan

The FCA has launched a review to examine if Aviva‘s plan to cancel its high yielding preference shares broke market abuse rules. Investors pressured Aviva to scrap its plans to cancel £450m of high-yielding preference shares at par value, Last week the insurer said it was not going ahead with the plans. Cancelling the plans […]

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Tony Wickenden: What advisers need to know about EIS changes

Government plans for new incentives could lure more investors to so-called ‘knowledge-intensive companies’ Along with the “stick”, in the shape of provisions limiting relief for investment into venture capital trusts and enterprise investment schemes, there is the “carrot” of increased investment limits for knowledge-intensive companies. While knowledge-intensive companies have become a talking point of late, […]

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