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FCA charge for late Gabriel return upheld after complaint

The FCA was right to issue a firm with a fine for filing its regulatory returns late, an adjudicator has ruled, after the firm complained that it was not told that its submission was due. Firms are charged a £250 late administration fee if they fail to submit their Gabriel return on time. A firm […]

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Government refuses OBR information on Brexit

The Office for Budget Responsibility says the Government refused to give it additional information on Brexit relevant to its economic forecasts, instead referring the independent agency to publicly available speeches and white papers. The OBR says it has no meaningful basis to form outlooks for the UK economy. Chancellor Philip Hammond announced in yesterday’s Autumn […]

FCA looks to ban Libor trader for rate rigging

The FCA has sought to ban former Libor trader Tom Hayes over rate rigging. The former UBS and Citigroup trader was jailed for 11 years in 2015 for rigging the Libor rate. The FCA said yesterday it had decided to prohibit Hayes from “any regulated activity”, as it did not see him a “fit and […]

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Top Baillie Gifford partner warns ETFs are ‘dumb money’

Baillie Gifford partner and fund manager Charles Plowden has condemned exchange traded funds as “dumb money” and warned they are likely to lead to another crash like the one seen in the latest global financial crisis. The manager of one of Baillie Gifford’s flagship funds, the £1.5bn Monks investment trust, compared index funds with the […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]

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