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The haves and the have-nots

I have now heard from the Financial Services Compensation Scheme that, in a case where a defunct firm has one person who is bankrupt and another who is a millionaire (this is an actual case), nothing can be done and the firm cannot be declared in fault.

In a case like this, my working-class clients, who have several cases against this firm, are therefore quite unable to obtain compensation as they do not have the money to sue.

A sad reflection on life in the UK today.

Bruce Jamieson
Jamieson Financial Management


Advisers shunned as small firms get help on corporation tax

Aifa director general Chris Cummings has hit out at Chancellor Alistair Darling for announcing measures to mitigate increases in small business corporation tax for some industries but not advisers.In last week’s Budget, the Chancellor set out a number of concessions to small businesses to help soften the increase in corporation tax on small firms from […]

Resolution AM adds to UK desk

Resolution Asset Management has announced the appointment of Martin Brown to its UK equity desk.Brown joins from Aberdeen Asset Management and also worked for Glasgow Investment Managers. He left the firm in January 2008.He will report to chief investment officer for UK equities Peter Reid.Reid says: “I’m delighted to have attracted someone with Martin’s skills […]

Market faces £625m proc fee shortfall, warns edeus

edeus is warning the current liquidity crisis could lead to £625m being wiped off the total procuration fee revenue for the UK mortgage market. Managing director Alan Cleary says there could be a 30 per cent deficit in the amount of finance available to borrowers in 2008, leading to a subsequent fall in payable proc […]

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]


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