FSA handbook to be rewrittenThe Treasury review of the Financial Services and Markets Act 2000 will lead to a rewriting of the FSA handbook. The FSA will reduce the size of the handbook while retaining consumer safeguards. It will also issue around 10 guides in the next year. The FSA handbook website is also being […]
Those crazy guys at mortgage packager Bananas are living up to their name bathing in baked beans to raise money for charity. Compliance manager Eddie Parsons had 50 industrial-size cans of beans tipped over his head, raising £250 for Children in Need. The Diary is convinced that compliance has an inherent predilection for torture.
Schroders has made its institutional recovery fund available to retail investors in the UK. The Schroder recovery fund, formerly the Schroder institutional recovery fund, invests in companies which have suffered a setback and their valuations will reflect this. A setback could mean they are out of fashion with the market or profitability has fallen. However, […]
Graeme Ballantyne, business consultancy manager, looks at how you can maximise the opportunities through your professional connections As we move through the summer months it’s perhaps a good time to pause and reflect on whether the plans you’ve made for your business are bearing fruit. One area we at PruConsulting know many advisers have been […]
Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]