View more on these topics

RBS chairman says shareholders will not recoup lost funds

Royal Bank of Scotland chairman Sir Philip Hampton has warned investors who owned the bank prior to its £45.5bn bailout in October 2008 that they were unlikely to recover the money they lost as a result.

The Telegraph reports Sir Philip Hampton said investors’ money from the nationalised bank was unlikely to be recouped in his lifetime.

He said: “I do not think shareholders wealth is likely to be restored any time in my lifetime or some lifetimes beyond. Many thousands of shareholders lost an awful lot of money. We have still got a lot of baggage to clear up, which will be difficult.”

Hampton added that despite calls for RBS chief executive Stephen Hester to give up his bonus, the “great majority” of institutional investors had been in favour of awarding him the all-share payment of almost £1m.


FSA to consult on delaying platform reporting rules

The FSA will consult on delaying the implementation of new client reporting rules for platforms. Earlier this month, Money Marketing revealed the FSA’s investment policy team was recommending to the FSA board that the new rules are delayed until the end of 2013. The regulator has this week emailed platforms, telling them there will be […]

Multi- manager View

Dramatising the problems in the eurozone makes for good headlines -it helps to sell newspapers and gives weight to arguments over policy. But there is a more humdrum side to the story. Recent history shows that when the chips are down, European policymakers will do whatever it takes to save the euro. In fact, in […]


Suspension lifted on Axa transfers

JLT Wealth Management has written to Axa employees asking if they want to restart the advice process for Axa’s enhanced transfer value offer, after JLT temporarily suspended defined-benefit pension transfer exercises last month. In April, JLT suspended the exercises after the FSA confirmed changes to the way in which transfers are calculated. A letter sent […]

Mortgage approvals see modest increase in April  

There were 51,823 mortgage approvals for house purchase in April, up slightly from the 51,067 in March, the latest figures from the Bank of England show. There were also 31,214 remortgage approvals in the month, also up from 29,713 in March. Gross mortgage lending was £11.5bn in the month, compared to the previous six-month average […]

Tax year-end planning for annual allowance

Last tax year-end there was a lot to think about in relation to planning. The introduction of the tapered annual allowance and the implications of moving to a fixed pension input period, the reduction in the lifetime allowance and potentially applying for protection, and the concern about changes to tax relief, to name a few. […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm