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Law Soc rejects trust regulation

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&#39s consultation paper on proposed listing rules, it says detailed regulation governing investment powers, borrowings and derivative trading would negate trusts&#39 flexible structure. Instead, it believes controls should be placed on the marketing and promotion of shares in investment companies.


Ban for agent who &#39preyed on clients&#39

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 […]

OFT urged to see &#39monopolistic nature&#39 of market

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 provides extra income

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 […]


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