View more on these topics

Imro fines Dresdner £90,000

Dresdner RCM Global Investors has been fined £90,000 by Imro for a

series of admin blunders committed mainly in 1998.

Imro says the firm failed to accurately compare its accounts of

transactions with records kept by companies they invested with.

Dresdner has had to make compensation payments of £8,408 to 122

investors. It also faces paying Imro costs of £69,000.

Imro says if a fund manager does not reconcile its records it is difficult

to tell if there are inconsistencies in its accounts.

An Imro spokeswoman says: “Imro is satisfied that Dresdner RCM has

resolved the problems which led to this action being taken.”

Dresdner RCM director of corporate communications Tessa Murray says: “This

issue only affected our institutional clients. No IFA should be concerned

about their clients&#39 business.”

Recommended

NDF Administration – Extra Income & Growth Plan 7

Wednesday, 25 July 2001.Type: Offshore guaranteed equity bond.Aim: Income and growth linked to the Dow Jones Eurostoxx 50 index.Minimum investment: £10,000, Isa £7,000.Place of registration: Dublin.Investment split: 100 per cent linked to the Dow Jones Eurostoxx 50 index.Guarantee: Capital returned in full at end of term provided the Dow Jones Eurostoxx 50 index final level […]

Three multi-manager Fofs from Credit Suisse

Credit Suisse Asset Management is launching multi-manager funds alongsideits private portfolio service which opened for business this week. The three fund of funds allow Pep transfers and Isas. The balancedstrategic fund will hold up to 20 funds as a lower-risk Fof in Autif&#39scautious managed sector, with up to 60 per cent in equities and the […]

Information is the key for with-profits clients

Leading consultancy KPMG is urging life offices to provide with-profitscustomers specific details of how bonus policies are calculated in a bid toto restore confidence. In the wake of the FSA&#39s with-profits review and Equitable Life slashingits bonuses, KPMG says customers need to make an informed choice abouttheir appetite for risk. There is still a future […]

Widows cuts reversionary bonuses

Scottish Widows has cut reversionary bonuses on unitised with-profits contracts by 0.5 per cent and terminal bonuses by up to 6 per cent. Reversionary bonuses have not been reduced since January 1999. ScotWids says the cuts are the result of falling stockmarkets. Contracts written prior to 1998 will receive a cut in terminal bonus of […]

Solving the income puzzle

There is a puzzle at the centre of financial markets. The global economy is growing, there are signs of inflation and interest rates are going up, yet yields remain low. In this article, James Foster, manager of the Artemis Monthly Distribution fund, unpicks this conundrum and looks at where investors can find income. There is […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com