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Apfa fails to act on FSCS costs after calling for NAO audit

Apfa has failed to submit a request to the National Audit Office to review the costs of the Financial Services Compensation Scheme, despite publicly calling for it almost two months ago. In February, Apfa published a press release calling on the NAO to conduct a value for money audit on the FSCS’s strategic projects. The […]

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Profile: Openwork’s new chief on the dearth of advisers

When Openwork chief executive Mark Duckworth speaks about the drop in adviser numbers since the late 1980s the figures sound astonishing: 285,000 advisers serving a UK population of 50 million in 1989, compared with 23,000 advisers available for 64 million people today. Put another way, there are currently around 200,000 consumers for every adviser when, […]

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China growth at lowest since 2009

China’s GDP grew by 7 per cent between January and March, its slowest pace since the financial crisis in 2009. The BBC reports the rate fell from 7.3 per cent for the previous three months. Last year China missed its annual growth of 7.5 per cent for the first time in 15 years, with growth […]

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FCA fines Merrill Lynch International £13m over transaction reporting

The FCA has fined Merrill Lynch International £13.3m for transaction reporting failures. The regulator says MLI incorrectly reported over 35 million transactions, and failed to report a further 121,387 transactions between November 2007 and November 2014. The fine is the highest ever imposed by the regulator for transaction reporting failures. The FCA says the size […]

The Perils of Passive Investing

The era of loose monetary policy created an environment that rewarded passive investors in the US. However, with the US raising interest rates for the first time since 2006, Felix Wintle explains why he believes active investing will be more important than ever. In the video Felix discusses: The rising cost of capital and its […]

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