The FSA has cancelled the permissions of mortgage broker Julian Paul Cheetham, trading as one-mortgage.net, due to unpaid fees and levies of £1,137. In a final notice published yesterday, the regulator said it had “repeatedly” asked Cheetham to pay the fees. The notice says: “This failing, which is significant in the context of Julian Cheetham’s […]
Fitch says it will downgrade the US from AAA to B+ if it does not increase the maximum amount it can borrow by August 2 and fails to make its first debt repayment after that date. The US hit its so-called debt ceiling again earlier this year, but without raising it according to normal policy. […]
The FSA is unlikely to relent on banning cash rebates on platforms despite widespread industry opposition, according to the Tax Incentivised Savings Association. The regulator proposed the ban last November in its discussion paper on the platform market after initially suggesting that rebates between fund managers and platforms should be banned. TISA director of policy […]
A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits. By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.
Inheritance tax receipts have increased to a record £5.4bn in the 2018/19 tax year according to HM Revenue and Customs figures published today. Receipts increased by around £160m in just a year from £5.2bn in 2017/2018 to £5.4bn. HMRC figures show the annual revenue and revenue as a percentage of GDP since 1980/81. It shows […]
Establishing the approach to qualitative versus quantitative analysis should top the due diligence list As more advisers outsource investment decisions to discretionary fund managers, the more the regulator will scrutinise the selection process. I would not be surprised if DFMs were selected on a lazy combination of brand, price and performance, yet any being offered […]
The biggest reason new concepts are not being brought to market is a lack of confidence that advisers will change their behaviour. Having started life in the financial services industry as a clerk for one of the largest life assurance companies in the UK, protection has always been my first love. Unfortunately, it only takes […]