The Treasury select comm- ittee will meet the FSA early in the next Parliament, with the effects of depolarisation set to be a key issue for dis- cussion.Labour MP Andrew Love, a new TSC member, says one of the first actions of the committee after the recess will be to meet the regulator to discuss issues including depolarisation and split-caps. Some Westminster lobbyists say the committee is likely to call for a review of depolarisation, looking at how the new regime has worked, although Love says it is too early to confirm an official agenda. The TSC will also continue its work on financial capability to see whether the work of the Government and FSA on financial education has been successful. Love says: “A formal agenda has yet to be agreed, although we have an early meeting with the FSA which will cover issues such as depolarisation.” Cicero Consulting direc- tor Iain Anderson says: “Depolarisation will be very high on the Treasury select committee agenda, looking at how the regime is progressing, whether there is a product bias because of the new ownership structures and if it is working in the best interests of the consumer.”
Shortly before David Severn stepped down as Aifa director-general, I met him for a quick chat, during which he told me what he thought the trade body’s priorities should be in the coming year.
F&C, Baring and Abbey all say funds which feature in Chelsea Financial Services’ relegation zone of poor performers will improve now that manager changes have been made. F&C’s North American fund has lost 30.8 per cent over three years and features in the North American equity relegation zone. F&C head of communications Jason Hollands says […]
Commercial property fund sales could suffer as investors see commercial and residential property as linked, says an expert from Scottish Widows Investment Partnership. Swip property research manager Stewart Cowe says his research shows that there is a correlation between the capital growth of commercial property funds and the capital growth of residential property. House prices […]
Hemisphere Property Management has made its Hemisphere property fund available to IFAs to broaden the fund’s investor base.
Many commentators have suggested the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune Head of European Equities Rob Burnett discusses the likelihood of this happening. Click here to read more Important informationInvestment risks Neptune funds may have a high historic volatility rating and past performance is […]
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Alliance Trust Savings’ new boss must “instil common sense” across the business and start to engage with advisers if they are to salvage the platform’s reputation, IFAs have said. Industry insiders have welcomed news of ATS chief executive Peter Mill’s departure, but say the platform needs to move quickly to fix its service issues. Frustrated advisers are […]
The FCA has said that the Financial Ombudsman Service does not need more guidance on how it should match the regulator’s rules with the complaints adjudicator’s judgments. While the FCA regulates firms according to its handbook, FOS decides on complaints based on a ‘fair and reasonable’ test, that is, whether the claim would be successful […]
The curious goings-on in the world of financial services