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Police drop investigation into ex-SJP adviser

City of London Police will take no further action against former St James’s Place adviser Peter Carron after dropping its investigation into alleged fraudulent use of over £4m of client funds.

Carron advised SJP clients to invest in his firms Primrose Associates, Comment Technologies and Evaluate Technologies.

The firms were put into liquidation last year following concerns over debt levels.

Evaluate Technologies is understood to be the development company for IT projects that were funded by Primrose.

In a statement today, City police says a 41-year-old male had been released from police bail.

The statement says: “A 41-year-old man was arrested on 15 July 2010 on suspicion of fraud offences. He has been released from police bail. After reviewing the case the Crown Prosecution Service decided there was insufficient evidence for a realistic prospect of a conviction. City of London Police will take no further action.”


L&G increases dividend 25% despite profits hit

Legal & General has increased its interim dividend 25 per cent despite operating profits falling by £64m in the first half of 2011. Results for the first six months of 2011 show pre-tax profits fell 12 per cent from £537m in the first half of last year to £473m in the corresponding period this year. […]

Lloyds reports £3.3bn loss after PPI costs

Lloyds Banking Group recorded a £3.3bn loss in the first half of 2011 after compensating customers who were mis-sold payment protection insurance. Lloyds announced in May that it set aside £3.2bn for the provision of PPI compensation. The £3.3bn loss compares to the £1.3bn profit the high street bank made in the first half of […]


Top rate of income tax could be cut to 45p

The Government is considering cutting the top rate of income tax from 50p to 45p as early as next year, according to reports. Quoting “Government sources” the Independent says the move, affecting those earning over £150,000, could be unveiled in next April’s Budget. According to the report, a senior Conservative says: “The decision is not […]


IFP moots NHS-style approach to advice

The Institute of Financial Planning has suggested that simplified advice could be delivered through a NHS-style framework where the Government pays or contributes to the costs of mass market advice. IFP chief executive Nick Cann (pictured) put forward the idea in a webcast broadcast yesterday on simplified advice. He believes there is mileage in a […]

India: too big to ignore?

By Kunal Desai, head of Indian Equities, Neptune  India is officially the world’s fastest-growing major economy and remains firmly on track to become the third-largest economy by 2030, overtaking Japan and Germany. As an accelerating labour force combines with increasing labour productivity, is India getting too big to ignore? Click here for full article   […]


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