St James’s Place chief executive Mark Lund has quit in what SJP calls a joint agreement. He joined SJP three years ago and became chief executive in September 2004. He is leaving with an estimated 4m payoff.
A former DBS member is taking Sesame to court over an indemnity clause in his contract.Richard Stock is suing Sesame for debiting 1,600 from his account to compensate for an alleged endowment missale.Sesame is defending its stance and citing clause 9.1 in its contract which says “in the event that [DBS] suffers or pays any […]
Trigold has signed Scarborough as the 23rd lender to support its enhanced non-conforming sourcing module.Scarborough Specialist Mortgages offers a service to the non-conforming lending arena providing a product range including prime to heavy adverse, including specialist buy-to-let and adverse buy-to-let. ENC ensures that lenders’ individual underwriting criteria are included in the system and products are […]
The independent Complaints Commissioner is investigating the FSA’s handling of a complaint against a Colonial Mutual subsidiary that was not authorised for nine years.Last August, Money Marketing revealed that a county court had upheld a complaint over an endowment policy sold by Colonial Mutual UK Holdings Group on the basis that the firm was not […]
Aifa warns insurance brokers that no change on watchdog funding could rebound on them.
Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.
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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 […]