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Tyrie: FCA in ‘special measures’

FCA internal audit reports have revealed ongoing concerns about wholesale supervision in retail banks as the Treasury committee says the regulator is in “special measures”. The Treasury published a redacted copy of the regulator’s 2015 internal audit report summary today. Treasury Select Committee chair Andrew Tyrie says the committee expects the FCA’s management to have dealt with […]

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L&G equity release sales overtake annuities

Legal & General is writing more equity release business than individual annuities after lifetime mortgage sales reached over £200m in the first half of the year. In an update published this morning, the insurer says new business sales in its retirement division covering lifetime mortgages, individual annuities and bulk annuities hit £4bn in total between […]

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Osborne blocked HSBC prosecution in money laundering probe

The Chancellor George Osborne and the FSA intervened in US investigations that could have seen HSBC prosecuted for money laundering. A US Congressional investigation published yesterday, claims the regulator “hampered the US government’s investigations” and “influenced” the decision not to prosecute Britain’s biggest bank, Sky News reports. The report adds: “George Osborne, Chancellor of the […]

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The legacies of Osborne and Altmann

It was not supposed to be like this. The expectation was for the UK to be stuck in political limbo until at least September pending the outcome of the Conservative leadership race. Yet here we are barely into the tail end of July with not only a new Prime Minister, but a new Cabinet and […]

Unrated bonds: broadening horizons

Ewan McAlpine, Senior Client Portfolio Manager, provides insight into how RLAM’s bond team use their skills to seek unique opportunities and greater diversity than that offered by traditional areas of the bond market, describing how they invest in unrated securities as well as rated securities to broaden the horizon of fixed income investing. Read the […]

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