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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BMO Global Asset Management fund manager Robert Burdett has more than halved the exposure to passive funds in most of the multi-manager funds amid fears of a bubble in the market. Burdett, who co-manages the £1.2bn F&C MM Navigator Distribution fund with Gary Potter, says the team has been cutting exposure to passive funds across […]
Opinion differs as to what has caused the advice gap. Some believe the move from commission to fees has made advice unaffordable for the mass market, with advisers having to focus on wealthier clients for commercial reasons, while others say the trend was happening anyway, regardless of the RDR. For Simplified Money director Lesley James, […]
Sales of protection policies are back at peak levels, with the sector growing by more than 20 per cent in the past year, despite adviser complaints over protection’s lack of popularity. According to the latest figures from Equifax Touchstone, sales of protection policies surpassed £149m between July and September this year — their highest level […]