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City

Deutsche Bank faces record $1.5bn Libor fine

Deutsche Bank is set to be hit with a fine worth more than $1.5bn(£1.02bn) in what would be the biggest penalty imposed for manipulating Libor. The German bank is in negotiations with agencies in the UK and US to settle the allegations in which a Deutsche Bank subsidiary could also plead guilty as part of a […]

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Wells Street Journal: Sun and booze makes Friends Life lose

Something very weird happened to the stockmarket last week. It all started when Friends Life, the provider which has now been subsumed by Aviva, saw its share price plummet almost 6 per cent on the morning of 8 April. So what had caused this mass sell-off? Reports of jitters about the imminent mega merger? Or […]

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Conservatives to appoint Ros Altmann consumer protection minister

Ros Altmann is to be made a peer and appointed as a minister responsible for financial consumer protection and education, if the Conservatives are in government after the election. Altmann’s first task will be to lead a review of the pension reforms, including the future of the Money Advice Service and whether a charge cap […]

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How ready are Sipp providers for imminent cap ad hike?

At least three leading Sipp providers would fail to meet the new capital adequacy requirements if they took effect today. Attivo, LV= and Rowanmoor would all meet less than 100 per cent of the capital requirements under the controversial rules, which are due to come into force in September 2016. Under the new rules, providers will be required […]

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