IFA Lucas Fettes & Partners managing director Michael Hart has been sacked by the Norwich firm after it discovered financial irregularities which led to allegations that he had taken client funds estimated at between £100,000 and £1.2m. Hart was arrested by police last week and released on bail.
As someone who has survived the chore of a quarterly VAT return for over five years, I still recall the pain of being subject to a formal VAT visit. The visit came about after I asked the local VAT office about how a particular purchase from another EU country should be handled. Its advice was […]
The property market continues to boom with net lending increasing by 37 per cent in the last year, according to figures from the Building Societies' Association Net advances by societies were £1.33bn in March, a big rise from £958m in March 2003. Building society gross advances totalled £4.1bn in March, up from £3.4bn in March […]
The FSA should levy regulatory fees on IFA firms depending on how many advisers sit within them as opposed to how much income is generated according to Aifa. In its response to the regulator's consultation on fees and fees policy, the trade body says whichever way fees are levied, the same amount of money will […]
The FSA says simple errors by firms completing application forms for authorisation to continue writing mortgage and general insurance business are causing delays. To deal with the problem, which is slowing down the regulator's processing of the 5,000 applications received to date, the FSA is posting on its website a list of the most common […]
The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.
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It is encouraging to see the FCA close in on lazy fund management, but more needs to be done Without fanfare, the FCA has confirmed its intention to punish lazy fund management. Several groups have been persuaded into voluntarily compensating investors who bought their beta-posing-as-alpha products, otherwise known as closet trackers. The regulator suggests that […]
Ex-GBST man and FinoComp chief executive Ray Tubman on the need for a brave new world of interoperability Platforms running on proprietary technology often see this as a competitive advantage, even if it is expensive to run. But ex-GBST man and now FinoComp chief executive Ray Tubman does not believe outsourcing is the poor relation. […]
Ahead of speaking at Money Marketing Interactive in May, founder and director of The Yardstick Agency Phil Bray gives tips on how advisers can improve their public image and why the FCA should rethink their plans for the register On a scale of 1 to 10, how optimistic are you about the advice market for […]