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FSA warning on investment chat

Investors are being warned against taking on-line share advice from chat rooms.

The move follows a spate of claims that stockmarket pundits in the US could be abusing their position and pushing their own shares investments using the internet.

FSA spokesperson Kate Burns says: “Consumers should be careful, alert and be aware what they are reading may be misleading or untrue. Bulletin boards and chat rooms are probably not the best place to go for advice.”


Dunfermline carpetbagger defence

Dunfermline Building Society is following the move of other beleaguered mutuals by forcing new members to give potential windfalls to charity.The move follows “disruption” as a result of windfall-chasing new members opening accounts in the hope the society will one day convert to a bank.By making new members relinquish windfall pay-outs Dunfermline joins the ranks […]

AITC drive to boost business

The Association of Investment Trust Companies is hoping its new code of practice will lure new investors to the sector.The code is designed to improve the quality of information included in trusts&#39 reports and accounts.The AITC is urging investment trusts to show their total annual costs and demonstrate how performance has been achieved in a […]

Financial services poised for jobs boom

The financial services industry is gearing itself for a recruitment boom, according to the Confederation of British Industry.The CBI and PricewaterhouseCoopers survey of 146 companies shows 45 per cent are expecting to take on more staff with 9 per cent looking to reduce their staff.Banking, insurance venture capital and securities sectors is expecting a net […]

Endowment bonus plunge

Endowment policyholders are bracing themselves for a plunge in bonus rates.Experts predict over the next few weeks cuts will be made as actuaries revise downwards their equity market return forecasts.Both Royal & SunAlliance and Norwich Union are expected to report 0.5 per cent cuts on their with-profits bonds, leaving headline rates at 5 per cent.KPMG […]


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