New Star's purchase of Edinburgh Fund Managers' retail funds and multi-manager business brings chairman John Duffield's buying spree to an end for the foreseeable future.New Star head of retail sales Mark Skinner says the 24 funds which the firm has bought from Aberdeen Asset Management, including 10 funds of funds, are the final piece in […]
The global trade deficit in goods narrowed in July. It now stands at 4.3 per cent GDP. The improvement was aided by a dramatic drop in the shortfall in non-EU trade which fell to its lowest level since May 2002 and exports to the US climbed by £400m according to Gerrard's latest figures.
The Association of Consulting Actuaries says Government is failing to put enough priority on encouraging employees and employers to make more substantial pension contributions.Chairman Gordon Pollock says the Government's most recent reform proposals, published in June, fail to encourage employers to continue with defined-benefit provision. In particular, he says there is almost nothing in the […]
Erica Harper of Zurich must be wondering where her weekly dose of press cuttings got to last week.The Diary was delighted to receive press cuttings about Zurich on our fax but we don't think they were intended for us.Could Consolidated Communications possibly have made a mistake? The Diary is only sorry that it wasn't a […]
Former home secretary Amber Rudd is set to return to the cabinet as work and pensions secretary, according to reports. The appointment follows the departure of Esther McVey yesterday over her refusal to back the government’s draft Brexit deal. According to reports, Rudd, a remainer, was offered the job after environment secretary Michael Gove spent […]
The FCA has written to all former clients of Avacade Limited, an unregulated pension introducer, to inform them about its legal action against the firm and its directors. In November 2017 the FCA said it would start civil proceedings against Avacade Limited, now in liquidation, and its three directors Craig Lummis, Lee Lummis and Raymond […]
As new disclosure rules bring the full extent of protection commissions into the spotlight, experts are asking if this will see clients ditch their advisers in favour of execution-only services. Under the Insurance Distribution Directive, from 1 October advisers have had to provide clients with information before a product sale about any commission received, which […]