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PIA fines Interdependence £35,000

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.

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AA promises after-sales servicing to customers

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, […]

Optima Fund Management – Scott&#39s Cove Fund

Thursday, 12 April.Scott&#39s 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: […]

C&G cuts fix and cap rates

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&#39s 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 […]

&#39Barbell trusts may shatter confidence&#39

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 […]

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