Directors at Gissings Advisory Services has completed a management buyout backed by private equity group Dunedin. Pension adviser Gissings Consultancy Services is unaffected.
Nationwide has warned that house price inflation will drop from the current rate of 9.7 per cent to 0 per cent by this time next year.In its house price forecast, the lender says that 2008 will see a slower economy, stretched affordability, tighter credit conditions and lower buy-to-let demand which will all take a bite […]
Pearl looks set to win the long and bitter battle for Resolution after Standard Life withdrew its offer and conceded defeat.Standard said it would not raise its £4.6bn cash and shares offer on Monday although it still believed it offered better value than Pearl.It said: “The board has concluded that a revised offer would not […]
The FSA has closed down Manchester based insurance broker M. Young Legal Associates for leaving clients uninsured by selling them insurance without underwriting in place.The regulator has banned managing director Michael Young, also known as Mohammad Younas Yousaf, and financial director Asif Habib Malik for their roles in the affair.The firm advised on and sold […]
The FSA is to demand greater disclosure of significant economic interests in a company’s shares held through derivatives such as Contracts for Difference. In a consultation paper published today, the FSA argues potential market failures could occur from using CfDs on an undisclosed basis to influence corporate governance and build up stakes in companies.The paper […]
The national news agenda has been dominated by pension issues this month. For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16 March 2016 Budget speech. To […]
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Two company directors have been disqualified for a combined 20 years after running a fine wine investment scam that lost investors nearly £1m. An Insolvency Service investigation found that Crimson Fine Wines cold-called customers and then did not purchase or allocate wines to those who had paid for their investments. The investment scheme offered investors […]
AJ Bell has won a case against a client who wanted his platform fees for the past 14 years reduced. A client, referred to as Mr N, complained to the Pensions Ombudsman that, because he did not have enough information about what fees would be payable, he sold a property holding in his Sipp far […]
National advice firm Foster Denovo has acquired employee benefits consultancy TEBC. The deal brings over 100 corporate client relationships, and Foster Denovo will look to build TEBC’s staff into its own employee benefits division, Secondsight. Foster Denovo says the deal is the first in an acquisition strategy it will be pursuing. Chief executive Roger Brosch […]