The Serious Fraud Office has launched an investigation into a fund called Gilher Inc which guaranteed a return of 20 per cent a year. The £20m fund targeted British nationals and other expatriates in Mallorca.
The Government will vow to halve its budget deficit by 2014 under proposals to be announced in the Queens Speech later today.
Shadow Chancellor George Osborne says he will narrow the remit of the Treasury and focus it more on financial stability and deficit control if the Conservatives win the next election.
The Personal Finance Society has appointed Smith & Williamson director and national head of financial services Mike Fosberry to take over from Paul Lothian as president. Zurich Intermediary Group chartered financial planner Edward Grant has been appointed PFS vice-president.
Neptune has appointed former JP Morgan Cazenove chief executive Robert Pickering as a non-executive director.
By Simon Fletcher
As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.
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