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Public have little faith in MPs reining in bonuses

More than half of UK consumers believe that none of the political parties will be able to control the bank bonus culture, according to research by Opinium.

The survey of 2,009 people, entitled, Independent Voice, found that 52 per cent have no faith in any party to control bankers’ bonuses while 46
per cent believe that one of the parties could.

Nineteen per cent say that the Conservatives could control bonuses and 14 per cent back Labour. Just 8 per cent say the Liberal Democrats could keep bonuses under control.

Only 12 per cent agree or strongly agree that banks and other financial institutions should be allowed to pay whatever bonuses they see fit while 76 per cent strongly disagree or disagree slightly.

The research shows that bon-uses are high on voters’ list of priorities, with 40 per cent saying they would be less likely to vote for Labour if it fails to bring bonuses for state-owned banks under control.

Nineteen per cent agree slightly that they would be deterred from voting Labour while 5 per cent disagree slightly and 6 per cent disagree strongly. Twenty-six per cent neither agree nor disagree.

On Conservative proposals to scrap the FSA in favour of a consumer protection agency, 19 per cent are aware of the plans and agree with them while 19 per cent are aware of the proposals and do not support them. Fifty-six per cent are not aware of the plans.

Paladin Financial Services managing director Tim Purdon says consumers are right to be sceptical about politicians’ ability to control bank bonuses.

He says: “I do not think the parties understand what activities the banks are undertaking. If you do not understand it, how can you control it?”


Succession adds two IFAs

Millfield Osceola Financial Consultancy and Doe and Davies have joined IFA consolidator Succession Advisory Services, committing combined funds under management of £115m to the Succession platforms and Investment Matrix.

Citi structures Ucits III Oeic

iti says IFAs have been though a lot this year, with the demise of various structured product plan managers, concerns about counterparty risk in structured products, changes in regulation and having to prepare for the implementation of the Retail Distribution Review. The company says there are elements of funds and structured products that address the issues. It decided to combine the two within the UK autocall fund, so that it offers the potential for pre-defined returns within an open-ended, Ucits III regulation framework.

Capita relaunches Synaptic

Capita Financial Software has launched a new version of its Synaptic Research software.


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  1. another piece of meaningless research, lacking insight, information or any point.

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