View more on these topics

Peer presses for rethink on FSCS review

The Government should force the FSA to resume its Financial Services Compensation Scheme review if the European Union fails to finalise the investor compensation scheme directive by December, says LibDem peer Lord Teverson.

In June, the FSA said it will not push forward with its review of the FSCS until the EU directive is complete.

The European Parliament passed its amended version of the Commission’s proposal in June and the European Council must now publish its version before the three enter discussions to finalise the directive. An EC spokesman says the directive is “not being treated as a priority”.

Speaking to Money Marketing, Teverson, who is vice-chair of the associate Parliamentary group on wholesale financial markets and services says the current model is “severely wrong” and must be addressed. He says: “If Europe does not sort this by the end of the year, the Government should compel the FSA to move ahead with its review. It is too easy to put things off because decisions are being made elsewhere.

“We need to make sure that where there is regulatory failure, every other firm in that sector is not hit with an almost limitless liability that is hard to predict and manage.”


JPM global fund adds unhedged share class

JP Morgan is introducing an unhedged share class in its £114.5m global equity income fund after blaming recent poor performance on the decision to hedge the fund back into sterling. The global equity income fund was ranked the 22nd-worst performer in the global sector in Bestinvest’s Spot the Dog report published last week. The fund […]

Eden unveils details of ‘vanilla’ fund

Dan Roberts, a former Gartmore manager, has unveiled details for his global equity income launch at Eden Financial, due later this year. The fund is being prepared for launch in “early November”. Roberts (pictured) says the fund will be “plain vanilla”, investing in a portfolio of global equities. The fund will aim for an annual […]

Ignis must get its in-house in order

Advisers say Ignis Asset Management must focus on improving the poor performance of its in-house retail funds after it relinquished control of joint-venture boutique Argonaut Capital. Last month, Ignis announced that European equity specialist Argonaut will become operationally independent. Ignis cut its equity stake from 50 to 40 per cent but will continue to manage […]

Seeking quality in uncertain markets

By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article


News and expert analysis straight to your inbox

Sign up


There are 2 comments at the moment, we would love to hear your opinion too.

  1. If the FSA is putting on hold its review of the FSCS until the new EU directives have been formulated, why isn’t it doing the same with its RDR?

    Ah, as David Kenmir was wont to say ~ that’s different. No it isn’t.

  2. how long before EU starts to break up?
    then what will the BOE , FSA FCA etc etc do

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm