Jail banker

Former SJP adviser jailed after gambling clients’ money

A former St James’s Place adviser has been jailed after defrauding clients of more than £840,000 over three years. Mark Pickering was discovered to have used client money to place bets at Betfair, which the gambling business discovered after checking its records. Pickering ran up a total of £1.1m gambling losses. Judge James Sampson, of […]


Vanguard fund fees won’t drop from Mifid II decision

It is understood there will be no direct savings for Vanguard investors Vanguard will not be dropping its fund fees despite its decision to absorb research costs under Mifid II. The $4.4trn fund manager led its US rivals on making a decision on research costs in August. But Money Marketing sister title Fund Strategy understands there will be no […]


UK fund groups see AUM drop as global firms break $80trn

The total assets under management of the world’s largest 500 managers increased by 5.8 per cent to $81.2trn in 2016, although UK firms saw AUM drop for the second consecutive year, falling by 4.5 per cent to $6.3trn. The Willis Towers Global 500 research shows that AUM by North American managers rose 7.7 per cent […]


FCA asked to review guidance on reporting fraud to police

The Complaints Commissioner wants the FCA to regularly check its enforcement team is following guidance on when they should report suspected fraud to the police after a complaint called into question the regulator’s processes. The complainant alleged the FCA had failed to work with investors and the police in its enforcement action against two investment […]


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