New regulations are causing confusion over which parts of the advice chain are responsible for checking products are appropriate for particular clients. The Product Intervention and Product Governance Sourcebook, or Prod, is part of the FCA’s Handbook and concerns the manufacture and distribution of financial products and services. The rulebook was introduced under Mifid II […]
Experts are debating whether the segregated mandate model is coming under pressure as one its most prominent users, St James’s Place, makes a raft of fund manager changes. In January, SJP replaced Axa Investment Management as the manager of its £3bn Balanced Managed Unit Trust after 11 years running the mandate, replacing it with US-based […]
The government’s Office of Tax Simplification has set its sights on pensions, Isas and life assurance bonds
More than 200 jobs could go at Axa Investment Managers as part of a restructure that could save the firm €100m (£87.6m). The company says in a statement it plans to bring in a new operating model that could see up to 40 jobs cut in the UK and 160 in France. Axa IM chief […]
One of the areas that will be high on the new minister for pensions’ to-do list will be the forthcoming review of automatic enrolment (AE). The outgoing minister had regularly said that AE contribution levels would need to be revisited early in this parliamentary term, and new research by Jelf Employee Benefits reveals employer support for such proposals.
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