View more on these topics

PIA expulsion spree

The Personal Investment Authority has announced the expulsion of several firms which are no longer able to conduct investment business.

The PIA say the firms have been expelled on the grounds they no longer meet its financial resources requirement.

L&P Run Off Ltd (formally Bridge Life & Pensions) of Manchester, Townsends Financial Services Limited of Clwyd, and Regal Cover Financial Planning Limited (formerly Holbeach Securities Ltd) of Finchley all went into liquidation last year.

Broadguard Ltd (formerly West Anglia Ltd) of Kings Lynn went into creditors&#39 voluntary liquidation last year.

Parkdale Group Limited (formerly Johnson Fry Financial Services Ltd) of Reading was placed in administration last year.


Yorkshire Bank hit for £100,000

Yorkshire Bank has been fined £100,000 by the investment management regulatory organisation for errors in its Pep administration. The breaches in Pep regulations came between December 1996 and June 1999, and included failing to complete customer asset reconciliation and failures in internal organisation and control. Yorkshire will also have to pay another £100,000 to compensate […]

Gartmore aims for income & growth

Gartmore’s new absolute growth & income trust is a split capital investment trust aimed at investors who are looking for long-term growth and high income.The trust will invest in a combination of two portfolios. Sixty per cent will be a growth portfolio, which will invest in UK growth companies with small to medium capitalisations and […]

Deutsche Post to partially privatise

German-owned post office Deutsche Post is to be valued at up to £15bn (26bn euros) after partial privatisation next month. Europe&#39s largest logistics group will set the final price on November 19 with trading in Frankfurt starting the following day. Deutsche Post are keen to attract private investors and are offering a discount of 0.5 […]

Big savings ahead?

For nearly a decade now the Ernst & Young Global Financial Services survey has been an important review of the progress of financial institutions around the world and of their use of technology.Now part of Cap Gemini Ernst & Young Consulting, this year&#39s survey has identified that, while the majority of UK insurance companies are […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment