The FSA has banned and fined Newcastle Home Loans £170,000 for submitting false information in mortgage applications. In a separate action, the regulator banned Cornwall mortgage broker Stephen Sanders for fraud this week.
A new trade body, the Federation of European Independent Financial Advisers, has been set up to represent the interests of English-speaking IFAs operating in mainland Europe.
Barclays’ profits rose by 8 per cent in the the first half of this year to £2.98bn from £2.75bn in 2008 while HSBC’s profits halved to £2.98bn from £6.1bn.
Insight’s head of multi-asset group Mike Pinggera is an idea-hunter who believes the firm’s platform gives a great base for building the portfolios
The Financial Services Compensation Scheme paid out £20.9bn in compensation payments in 2008/09, up from £82.93m in 2007/08, mainly attributed to the failure of five banks.
Healthcare is already one of the key battlefields in May’s general election, with each of the main parties committing to deliver improvements to the NHS and public health.
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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 […]