Recent improvements in forward swap rates have led to increases for many fixed rate savings bonds according to Bristol & West's latest figures.
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Trade bodies' fears on FSA's reporting rules
Trade bodies fear that new reporting procedures proposed by the FSA will add costs and mean an upheaval in business practices.CP198, published last week, outlines regulatory reporting proposals for financial services firms. In it, the FSA proposes a “streamlined approach to reporting requirements” which would mean that all intermediaries must file reports to the FSA […]
Rental incomes increase – Paragon Mortgages
Buy to let rental incomes rose 3.30 per cent (£9,354) in August compared to £9,055 in July according to Paragon Mortgages monthly buy to let index. The index also reveals that after two months of modest falls yields have now stabilised at 7.57 per cent as a result of this rise in rental income, despite […]
Edinburgh Partners rules out retail funds
Edinburgh Partners has dashed IFA hopes that it intends to launch retail funds after confirming that its initial three portfolios will only be available to institutions.The company, set up by former Scottish Widows Investment Partnership chief investment officer Sandy Nairn and head of UK equities Graham Campbell, will offer only investment trusts to retail investors. […]
DWS focuses on homegrown funds
DWS Investments has designed an Oeic fund of funds that invests only in DWS funds. The DWS managed distribution fund will initially invest 50 per cent in equities and 50 per cent in bonds. However, it has the flexibility to invest between 40 per cent and 60 per cent in each asset class as market […]
Fit for Work — where next?
The rollout of Fit for Work (FFW) has now started in England and Wales.
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Amber Rudd to return as work and pensions secretary
Former home secretary Amber Rudd is set to return to the cabinet as work and pensions secretary, according to reports. The appointment follows the departure of Esther McVey yesterday over her refusal to back the government’s draft Brexit deal. According to reports, Rudd, a remainer, was offered the job after environment secretary Michael Gove spent […]
FCA writes to pension transfer introducer clients over legal action
The FCA has written to all former clients of Avacade Limited, an unregulated pension introducer, to inform them about its legal action against the firm and its directors. In November 2017 the FCA said it would start civil proceedings against Avacade Limited, now in liquidation, and its three directors Craig Lummis, Lee Lummis and Raymond […]
Fears protection commission disclosure will turn clients off advisers
As new disclosure rules bring the full extent of protection commissions into the spotlight, experts are asking if this will see clients ditch their advisers in favour of execution-only services. Under the Insurance Distribution Directive, from 1 October advisers have had to provide clients with information before a product sale about any commission received, which […]
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