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Vanguard: Mifid II fails to address conflict of interest concerns

Mifid II does not go as far as the RDR in addressing conflict of interest issues across Europe, says Vanguard head of retail Nick Blake, leaving room for a third or even fourth iteration of the rules. The Mifid II changes are designed to strengthen protections for retail investors across the EU through limits to […]

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Advisers slam Now: Pensions over £500 employer exit fee

Automatic enrolment provider Now: Pensions has come under fire for hitting employers with an exit fee if they choose to switch to a different scheme within two years. Under scheme rules in place since it launched in 2012, employers who decide to switch provider within the first 24 months have to pay a fine depending […]

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Ex-Deutsche Bank trader files court case against FCA

Former Deutsche Bank trader Christian Bitter has filed a court case against the FCA after it fined the bank £227m. In April Deutsche Bank was fined a total of £1.7bn by international regulators for manipulating Libor and Euribor. According to Bloomberg, Bitter claims the FCA improperly identified him in a report accompanying the Deutsche Bank […]

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FSCS places network in default two years after PI lapse

The Financial Services Compensation Scheme has placed a network in default almost two years after the company failed to secure professional indemnity insurance. Money Marketing reported back in June 2013 Kent-based network Virtual Net Europe had alerted members it was unable to secure PI cover. The network posted a £182,532 loss for the previous year. […]

Brexit Commentary from Natixis Global Asset Management

By David F Lafferty, CFA, SVP – Chief Market Strategist Thursday’s historic Leave vote in the UK will have both immediate and long-term consequences for the global economy and financial markets. The initial flight-to-quality reaction across asset classes has been exacerbated by the market’s misplaced confidence in a Remain victory leading up to the vote. Stock markets […]

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