Diane Hayter’s whole defence against Nic Cicutti’s article is an own goal. I will only pick two points:1: Only a serial committee member/do-gooder could possibly hailan increase in bureaucrats of 325 per cent (financial promotions’ team increase from eight to 34)2: Free or moderately priced assistance. Free! What planet is she on? Does she attend her meetings for free?What does she think we are, charities – not at our rates of tax, not with our FSA and PII bills.Is it any wonder that Nic was critical? Her rebuttal proves his point.There are some very able and savvy people on the panel but it seems they are outnumbered by apparatchiks.Perhaps more industry luminaries or people with real relevant experience might be better suited to the task and gain more respect from the FSA.Harry Katz, Norwest Consultants, Stanmore, Middlesex
Many financial services companies record conversations in the office as a standard practice and our story was based on recordings which were made in an office where a prominent sign warns that meetings and telephone conversations on the premises may be recorded.
Like many of my industry colleagues, I felt a surge of indignation on reading Dianne Hayter’s statement that “for the mass market, it is hard to find disinterested, professional, free or moderately priced assistance”. Oh yes? Disinterested is what a judge presiding over a legal conflict between two parties is supposed to be, namely without […]
Bradford & Bingley will no longer deal with third parties representing customer endowment complaints.The bank says its customers may be unaware of the free complaints service already available to them through the Financial Ombudsman Service.It will however deal with people representing customers with special circumstances or those customers insistent on using third parties.From August 1, […]
I always look forward to seeing Principal Investment Management’s White List of UK equity income funds.
A report from the Centre for the Modern Family out last week presents some interesting — and perhaps rather worrying — findings.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]