Liberal Democrat shadow chief secretary Chris Huhne has floated an idea adopted in the Netherlands for an independent agency to scrutinise the regulators and report to Parliament on their impact.Huhne, a former MEP, says he has been told the system which also involves the use of sunset clauses to reapprove legislation periodically, is working well. Many in the UK have misgivings about the aloofness of the FSA – and not just from what the FSA attempts to argue are its full-time critics. There is a fierce debate raging over treating customers fairly and whether it is simply a mechanism for treating the industry unfairly. The FSA says TCF is not some arbitrary concept but has argued the case in an authoritarian and unyielding way. With the Financial Services and Markets Tribunal fulfilling a very specific function and the practitioner panel lacking teeth, perhaps it is time the political parties considered the case for this sort of agency. It would be interesting to hear what arguments can be deployed against it.
Hearing someone declare their love for the English weather is not something one hears every day. But, given that Elena Shaftan, manager of the Jupiter emerging European opportunities fund grew up in Siberia, her passion for the climate here seems understandable.
Pension trustees could be held personally liable for hundreds of millions of pounds in lost compensation payouts if they fail to sign up to shareholder class actions, legal experts warn. Irwin Mitchell partner Alan Owens says around $5bn in compensation was paid out from shareholder actions against firms found guilty of fraud last year in […]
Those Lanson girls really are eager. Ex-Money Marketing hack now at the Daily Mail James Coney got a pleasant call from a Lansonette with a press release which she described as being “really relevant at the moment”. Was it on the subject of the party political conferences taking place over the next few weeks, the […]
A team of 11 Lansonettes were out in force again last Sunday, tearing around Hyde Park one very hot September morning to raise money for charidee. The 5k Hydro Active Women’s Challenge saw the team of PRs pictured on the right here raise 2,900 for Bart’s and the London Cancer Care appeal which is hoping […]
In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]
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The FCA scrutiny of the asset manager continues apace, with attention now turned to closet tracker funds. Following regulatory lessons and actions already seen in Scandinavia, it has ordered unnamed asset managers to pay out £34m in compensation to investors for overcharged fees. At least one group is facing enforcement action over “very misleading” marketing […]
The FCA has told advisers to make clients aware of their right to refer complaints to the The Pensions Ombudsman, not just the Financial Ombudsman Service. Currently, advisers must notify clients that they can complain to the FOS if they believe they have been miss-sold, but are not required to signpost TPO. While complaints over […]
Financial Services Compensation Scheme levies for the coming year will reflect the growth in claims from poorly advised defined benefit pension transfers, chief executive Mark Neale has said. In a blog published this morning Neale writes that the levies – to be published in April – will show the claims to do with pensions have […]