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FoI reveals extent of FOS Ucis complaints

The Financial Ombudsman Service has received more than 1,500 complaints about unregulated collective investment schemes since new rules were introduced by the FCA in 2014. Figures obtained by Money Marketing through a Freedom of Information request show the FOS has received 1,532 complaints about Ucis products since 1 January 2014, and 61 per cent of those […]

My three big calls: Barings’ Christopher Mahon  

Despite the jitters of the last few weeks, low interest rates are here to stay. One can quibble about whether the Fed will hike in December but ultimately it is going to go slow. Elsewhere – say in the UK, Europe and Japan – central banks continue cutting rates. The fact of the matter is […]

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Bank of England keeps rates on hold

The Bank of England has left interest rates at 0.25 per cent at its September meeting, following its cut to rates in August in response to the UK’s vote to leave the European Union. However, the central bank has reiterated that it expects to cut rates further before the end of the year. Its QE package […]

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FOS reveals the most complained about advice firms

Sesame received the most Financial Ombudsman Service complaints between January and June with nearly a quarter of its 160 complaints upheld. The FOS released its six-monthly complaints data today, including the five advice firms that received the most complaints. Sesame topped the list and also saw an increase in the number of complaints from the […]

Help, I’ve been appointed as a trustee. What are my responsibilities?

Graeme Robb, Technical Manager at Prudential looks at the key duties and responsibilities of a trustee.  This article will consider the following: Duties to be performed on appointment Investment duties Protecting the interests of beneficiaries Keeping accounts and records Distributing property to beneficiaries Duties to be performed on appointment Obtain a copy of the trust […]

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