Overnight Libor kept steady at 2.99 per cent while three-month Libor dropped for another day to 3.94 per cent, leaving it only 94 basis points above Bank base rate.
The FSA says advisers may be required to set up trusts to pay for any potential claims that arise after they have left the industry.
The rise in income tax to 45 per cent for people earning over £150,000 has been hailed as a positive move for pensions.
For those who wanted a political choice, you have it. The Government has opted for borrowing, tax cuts now, particularly for the less well-off and tax increases after the next election for the rich.
The Association of Private Client Investment Managers and Stockbrokers has welcomed the Government’s emergency measures to boost the economy, but is critical of the lack of stamp duty relief.
Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]