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KPMG faces criticism over ‘slow’ MF Global wind-down

KPMG is set to face a torrent of investor criticism today over the slow progress being made in the recovery of funds in failed broker MF Global.

The administrator will face clients for the first time at the Barbican later today. MF Global filed for Chapter 11 bankruptcy in New York in October last year after making a £4bn bet on European government debt.

According to The Daily Telegraph, the meeting will be chaired by joint administrator of the MF Global UK business Richard Heis.

MF Global investors are frustrated at the slow progress in recovering the £780m of cash and assets frozen since the broker collapsed.



Saunderson House chief quits after 18 years

Saunderson House chief executive Nick Fletcher has quit the IFA firm after 18 years. Fletcher, who became chief executive in 2003, has quit the IFG-owned firm to pursue other interests, with director Tony Overy appointed interim managing director.London-based Saunderson House is currently looking for a long-term replacement for Fletcher. A Saunderson House spokesman says: “Saunderson […]


Choices on affordability

Lenders could have to assess affordability for interest-only loans on a capital and interest basis unless the borrower has a “clearly understood and believable” way to repay the mortgage. In its first formal consultation on interest-only mortgages, the FSA says individuals can have their affordability assessed on an interest-only basis if they have an appropriate […]

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Rachael Adams considers a year with positive and negative potential


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