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Lenders warned over TCF after FOS maximum mortgage age ruling

Mortgage lenders could fall foul of treating customers fairly rules if they apply generic lending criteria following a Financial Ombudsman Service ruling against HSBC, experts warn. The FOS has upheld a complaint against the bank for unfairly rejecting a mortgage application on the grounds of age in the first case of its kind. A couple in […]

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FCA fines Merrill Lynch International £13m over transaction reporting

The FCA has fined Merrill Lynch International £13.3m for transaction reporting failures. The regulator says MLI incorrectly reported over 35 million transactions, and failed to report a further 121,387 transactions between November 2007 and November 2014. The fine is the highest ever imposed by the regulator for transaction reporting failures. The FCA says the size […]

Ian McKenna: Treading the fine line between good and bad robo advice

At the beginning of the month, Nick and Martin Bamford caused amusement around the industry by announcing the launch of Informed Choice’s robo-adviser as an April Fools prank. What many in the industry might find scary, however, is that they are not too far away from the truth. The emergence of real robo-advisers is, in […]

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Providers urge Govt to reverse annuity buy-back ban

Insurers are calling on the Government to reverse its decision to ban them from bidding to buy back their own annuities. They say people selling their annuities will lose out unless the Government U-turns on its plan. In th Budget Chancellor George Osborne launched a consultation on creating a secondary annuity market to allow pensioners […]

Investment

Infrastructure investment: opportunities and challenges

Michael Howard, Head of Alternative Investments at Prudential Portfolio Management Group (PPMG), discusses the opportunities presented by infrastructure investment. Infrastructure investment has gained in popularity over recent decades as more investors have sought diversification, stable long-term income streams and an element of inflation protection. Infrastructure is extremely diverse but in essence refers to assets that […]

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