The FSA has issued Mortgage Times with a final notice, revealing the network is in breach of its regulatory capital requirements with a shortfall o£971,060.
HM Revenue & Customs has won a High Court ruling allowing them to seek £100m of back-dated income tax from around 2,500 people who used an offshore tax avoidance scheme.
The FSA has apologised for failing to protect the email addresses of hundreds of IFAs which were revealed in a mass email.
BlackRock – iShares DJ EuroStoxx 50 Accumulating
City Minister Lord Myners has defended the UK’s handling of the banking crisis and insisted the UK should not follow US president Obama’splans to separate retail and investment banking. Last week, Obama announced “the Volcker rule” which will limit the scope of banks and ensure that no financial institution that contains abank will own, invest […]
New figures requested from the Office for National Statistics by Jelf International reveal the countries with the largest numbers of employees working for a UK-controlled parent company (known as UKFAs or UK foreign affiliates).
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Fidelity International has reversed plans to charge for research under Mifid II after feedback from clients. The £239bn asset manager revealed it planned to implement a Research Payment Account approach as part of its overhaul of fees, announced in October, when it revealed it was adopting a ‘variable management fee’ model. The RPA approach involves paying for […]
Let’s talk about discretionary fund managers. It’s an important conversation to have: even advisers who adore their investment manager admit that the market as a whole is murky, highly profitable and a nightmare to compare. They are also growing in importance, in terms of both volume of assets and the number of advisers that are […]
I have noticed a new trend among advisers at conferences lately. Instead of boasting about the number of clients they have or the size of their cases, all the talk now is about how little they are working. This struck me the most when I was listening to someone extolling his recent yachting trip. The […]