Which? is urging the FSA to significantly increase the fines it imposes on companies found guilty of misselling. In a report this week, the consumer campaign group says it wants penalties to be big enough to alarm institutional investors into putting pressure on companies to prevent future misselling.
Rooftop Mortgages is to allow Sesame appointed reps and smaller packagers direct access to its products to increase business by 30 per cent this year. It has set up a Rooftop Service Centre in Southend to cultivate new business relationships with smaller packagers. Previously, they would had to go through a big packager to get […]
Serviced Land Fund
The Financial Ombudsman Service has threatened not to deal with enquiries from the IFA Defence Union after accusing its chief Evan Owen of harassment and intimidating behaviour. Senior legal adviser Louise Reilly has written to Owen describing an email addressed to one of her colleagues as hostile and intimidating. She warns that the FOS will […]
You know it’s August when the press releases become increasingly tedious or amusing, scraping the bottom of the proverbial barrel. This week’s winner arrives courtesy of Polhill client Clerical Medical, informing us that the most popular pop song about money was, indeed, Abba’s Money, Money, Money. The top 10 has two entrants by The Beatles, […]
Despite the surprises the market always springs on investors, for the Loomis Sayles US Equity Leaders Fund, macro events are not a factor in its own decision making.
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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 […]