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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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]