Bringing investment trust shares under regulated product listings would fail to improve the way they are brought to market, according to the Law Society. In its response to the FSA's consultation paper on proposed listing rules, it says detailed regulation governing investment powers, borrowings and derivative trading would negate trusts' flexible structure. Instead, it believes controls should be placed on the marketing and promotion of shares in investment companies.
The FSA has obtained a permanent injunction against unqualified accountant and bookkeeper Alan Evitts, preventing him illegally taking deposits from investors. The High Court heard that Evitts, from Glossop, Derbyshire, had illegally taken nearly £150,000 in deposits from potential investors and made a number of false and misleading statements. The court order also prevents him […]
When gauging the question if investor sentiment has changed forever, I received a short-term answer when I attended a Budget presentation lunch event last week. Those of us around the table introduced ourselves and one executive blurted out “I hope you are not going to sell me a pension” to laughter. I was hardly going […]
The LIA and Aifa are urging the Office of Fair Trading to recognise the “monopolistic nature” of the IFA professional indemnity market and take action to address these competition concerns. The trade bodies say it is essential as part of its review of employer liability insurance that the OFT considers the crisis in the IFA […]
Keydata Investment Services has established a fourth issue of the extra income plan, a guaranteed equity bond linked to the FTSE 100 index during a five-year term. The bond initially offers investors a choice between two options. Option one provides a further choice of 8 per cent income a year, 1.93 per cent income a […]
The fastest growers in the Artemis Global Select Fund this year were also the largest companies, Amazon and Nike. Simon is looking to buy more like them in 2016.
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]