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SJP assets reach £62bn on record inflows

St James’s Place saw record monthly inflows of £1bn in March, taking net inflows up slightly to £1.36bn. The wealth manager saw group assets under management rise from £55.8bn last year to £62bn in the three months to the end of March, in its results released today. SJP saw record monthly inflows of £1bn in March, taking […]

Bidders for Precise parent demand ‘Brexit clause’

Bidders for the parent group of Exact and Precise Mortgages are calling for a ‘Brexit clause’ in the takeover deal to protect them from housing market shock, according to Sky News. Some suitors for Charter Court Financial Services are asking for a material adverse change clause in any acquisition contract. This would give bidders a […]

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Tracey McDermott to exit the FCA

Acting FCA chief executive Tracey McDermott is to depart the regulator in July, it has been announced. PRA chief executive Andrew Bailey, who was appointed to succeed Martin Wheatley on a permanent basis in January, will take over the FCA following her departure. Bailey will be replaced at the PRA by Sam Woods. McDermott has been leading the […]

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Fund managers face ‘monumental task’ monitoring distribution

Fund managers face a “monumental task” monitoring distribution channels after the FCA raised concerns advised-only products are being sold through non-advised platforms. The regulator revealed last week its thematic review of asset managers had uncovered examples of poor governance and warned firms need to better monitor distribution of funds. In particular, it found two funds […]

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