The PIA has fined network Interdependence of AMC House, Chantry Street, Andover, Hants £35,000 and ordered them to pay costs of £5,000.
Between October 1997 and January 1999 Interdependence failed to remedy rule breaches identified by the PIA following a supervision visit between 12 July and 13 August 1997.
AA Financial Services claims its new telephone-based IFA service will tackle the poor levels of customer service it says are inherent in the industry. The AA says its research shows many financial services customers are dissatisfied with the “very poor” post-sale experience they have received from IFAs and direct-sales teams. It claims its IFA service, […]
Thursday, 12 April.Scott's Cove FundType: Offshore hedge fund.Aim: Growth by investing in financially distressed companies, bankrupt companies, companies undergoing reorganization or recapitalization in the US.Minimum investment: $250,000.Place of registration: Bermuda.Investment split: Distressed debt 30-60 per cent, bankrupt and defaulted debt 30-60 per cent, high yielding debt 0-30 per cent, equities 0-20 per cent.Isa link: No.Charges: […]
Cheltenham & Gloucester is cutting rates on its capped and fixed-rate mortgages by 0.2 per cent across the board. The rates are available to new customers and existing borrowers paying the bank's variable rate of 7.5 per cent. Borrowers can fix their mortgage for two, three or five years at rates of either 5.79 per […]
Investment trusts managed with a barbell approach could shatter investor confidence in the entire investment trust sector, according to research by Edinburgh University. The research also criticises the so-called “magic circle” of split-capital investment trust managers, who all hold shares in each others trusts. The research, published in the Journal of the UK Society of […]
Last Wednesday was International Youth Day: a UNESCO (United Nations Educational, Scientific and Cultural Organisation) initiative that began in 1999.
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Why it’s time to reconsider structured products
HMRC is clamping down on remuneration schemes designed to avoid income tax and National Insurance You may have seen a bit in the financial news lately on the loan charge tax to be levied on payments received by employees through disguised remuneration schemes used to avoid income tax and National Insurance contributions. Those involved will […]
The FCA has drawn a blank on providing an estimate of the level of so-called “phoenixing” by financial advice firms. Phoenixing is the term used to describe the practice where directors of advice firms with impending complaints wind the firm down, so do not pay out on the claims, which then have to be handled […]