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Brexit sparks losses for three-quarters of UK equity funds

Three-quarters of funds in the UK equity sectors experienced negative returns in the week following Brexit, with the Jupiter UK Growth fund suffering the worst performance at -13.9 per cent. Elite Webb Capital Smaller Companies Income and Growth fund and the Saracen Growth fund rounded out the bottom three returning -12.4 per cent and -12 […]

The Day of (B)reckoning

A period of exceptional uncertainty started last Friday for the UK, including a fierce leadership battle in a deeply divided Conservative party, the timing of the trigger of the EU’s Article 50, as well as a potential referendum in Scotland, and Northern Ireland. Click here to read the full article

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FOS orders Openwork to pay compensation over unsuitable charges

Openwork must compensate a client who complained about receiving unsuitable investment advice and claimed they were misled about charges. An Openwork adviser recommended the complainant, Mr M, transfer his existing bond and Isa to another provider with the client understanding charges for the new arrangement would be “broadly the same”. However, when he received the […]

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Ex-FCA chief Wheatley’s final pay cheque hits £827k

Ex-FCA boss Martin Wheatley will be paid £827,000, including a £48,000 bonus, for his last 16 months at the regulator. Wheatley resigned from the FCA and its board in July and September 2015 respectively, but continues to be employed by the regulator until 31 July 2016. According to the FCA’s annual statement, Wheatley’s basic salary for […]

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