Norwich & Peterborough says it is still waiting for the High Court's judgement on the judicial review it is seeking against the Financial Ombudsman's ruling on its Tessa pricing. It had hoped for a decision last week but the High Court reserved its judgement indefinitely without providing a reason. The complaint against N&P concerns a customer unhappy about mini cash Isa holders being paid more interest than he was receiving on his Tessa select account. N&P says it will pay compensation totalling £1.3m if the judgement goes against it.
Deutsche Asset Management, which is rebranding as DWS Investments, has introduced the DWS European opportunities fund.The fund, along with the recently created DWS UK opportunities fund, is a higher-risk, addition to the Oeics in the companys existing range. It aims for capital growth by investing in a concentrated portfolio of 25 European stocks, excluding the […]
Clerical Medical is set to make a return to the group stakeholder market on the back of the systems it bought from Equitable Life last year.The company had been forced into a retreat from the market in August last year following a backlog at its admin centre in Bristol. The company said it hoped to […]
Monday, September 23, 2002Type: SicavAim: Growth by investing in global equitiesMinimum investment: Lump sum £3,000Place of registration: LuxemburgInvestment split: 100% in global equitiesIsa link: YesCharges: Initial up to 5%, annual 1.5%Commission: Initial 3.5%, renewal 0.5%Tel: 0800 305306
Ratings agency Standard & Poor's is entering the multi-manager market through an exclusive agreement with Schroders to offer IFAs and financial institutions a global funds of funds service.In a major departure from its core business, S&P is reass-essing funds that it has already rated to create a panel of recommended products for which Schroders will […]
The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath.
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The FCA has fined an AIM-listed investment company £70,000 for failing to inform the market of inside information regarding the compulsory acquisition of one of its holdings. Biogas company Eggersmann Gruppe acquired Tejoori’s entire shareholding of Bekon on 10 August 2016 and informed the market the following day. However, that market update did not mention […]
At our recent Money Marketing In Focus conference, the FCA and Financial Services Compensation Scheme shared a stage to talk about the fallout from the freedoms and where we go from here. It is clear the advisers in the audience were focused on one in issue in particular: how unregulated investments are treated. FSCS chief […]
I received a new enquiry by email this morning. It contained a statement from the sender as follows: “I have spoken to a number of advisers but I feel they are trying to sell me products rather than give me impartial advice. What I want is some proper advice for which I can pay a fee […]