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IMA delays absolute return sector review

The IMA says its review of the absolute return sector is unlikely to be completed by the end of this year following delays to the new managed sector definitions.

The review, which was to be completed by December 31, is now likely to conclude in the first half of 2012.

An IMA spokeswoman says: “The absolute return sector review is unlikely to conclude this year, as we have to conclude the managed sector review first.” The IMA delayed the implementation date for its managed sectors from July 1 to October 1 after members called for more time to respond to the proposals.



Advertising Standards Authority investigates MAS “free advice” ad

The Advertising Standards Authority has launched a formal investigation into the controversial TV ad from the Money Advice Service following a raft of adviser complaints. The ASA has launched an investigation this week after it received a total of 77 complaints against the ads. It says most of the complaints came from those working within […]

Credit Suisse to cut 2,000 jobs

Credit Suisse is to cut 2,000 jobs by the end of 2012 in a bid to make cost savings across the business. The move sees the firm cut around 4 per cent of its global workforce and comes after it reported a 52 per cent year-on-year fall in net profits in the second quarter of […]


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