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The Wells Street Journal: Mifid puns and Schroders karaoke

The curious goings-on in the world of financial services from Money Marketing’s diary page

The Mifid pun machine

How to report on such wide-reaching reform as Mifid II, which was enacted last week, has tested writers across the world.

Never one to tone down the hyperbole, CityAM’s front page ran with the blood-soaked headline: The Day Of The Mifids – a reference to the 1951 novel
The Day of the Triffids, where aggressive plants try to take over the world.

The ever-upbeat Express chose “FINANCIAL ARMAGEDDON?” as its lead-in, complete with stock images of sweating traders. Iterations on other newspapers included joyfully alliterative and no-less-scary references to the “Mifid Monster” and “Mifid Madness”. We can only hope to survive such plagues, ideally without being consumed by tentacular herbs.

A clean slate

Pension transfer specialists HDC had a bit of a tough time of it last year, having been caught up in the FCA’s work in the area.

Kent-based Heather Dunne IFA, the firm which controls the company, had to stop taking on new cases.

HDC has kept clients reliably informed of the progress of its work with notes on its website about discussions with the FCA, temporary suspensions and the like.

Last week, we spotted a new section added to the HDC website entitled Training Days. The contents? Completely blank. At least when WSJ checked…

Out of context

I was once persuaded to do a rendition of Eminem’s “Lose Yourself”

Schroders’ James Rainbow reveals his reluctant karaoke act.

“Magic Money appearing in one place magically disappears from another without any explanation, accountability or semblance of fairness”

Verve IFA Steve Buttercase likens transactions in Harry Potter to capitalism in general.

“I’m not going to predict anything, but I predict traditional asset allocations are going to struggle”

Blogger Cyclopean View mocks New Years’ investment predictions.

“The remoaners need to get over themselves”

Star fund manager Neil Woodford isn’t immune to a bit of Brexit mudslinging.


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