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IFA struck off for not paying an FOS award

The FSA has struck off Northern Ireland IFA Brian McGee, trading as Brian McGee Inv- estments and Pensions, after he failed to comply with a Financial Ombudsman Serv- ice award.

On June 3, 2008, the FOS found in favour of a comp-lainant but McGee refused to pay the award despite rep-eated requests by the FOS and the FSA.

The regulator has cancelled McGee’s permission to carry on regulated activities.

In its final notice, the FSA says: “You did not pay due regard to the interests of your customer or treat her fairly.”


F&C predicts growth in Sicavs

F&C’s multi-manager team thinks that the growing popularity of sterling priced Sicavs with distributor status could lead fund management groups to reduce the number of funds they offer.

Dampier has China fund concerns

Hargreaves Lansdown head of research Mark Dampier has reiterated concerns over Anthony Bolton’s new China fund being offered in a closed-ended structure after Fidelity registered a China special situa- tions company at Companies House.

AVD UK targets £100m in first year

AVD, Austrian-based provider of capital protected and tax efficient investments is soon to launch into the UK and is targeting £100m under management in its first 12 months.


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