UK compensation scheme declares 8 firms in default
A raft of UK financial advice firms were declared in default by the Financial Services Compensation Scheme (FSCS) during April, meaning consumers could get back money they have lost.
A raft of UK financial advice firms were declared in default by the Financial Services Compensation Scheme (FSCS) during April, meaning consumers could get back money they have lost.
RL360’s parent company makes two major appointments, Indosuez Wealth Management hires a head of markets, investment and structuring in Singapore, while a former employee re-joins Saxo Bank as a chief executive.
The Isle of Man was ready to “vigorously challenge” the UK Government if it imposed a public register of beneficial owners on the crown dependency, its chief minister Howard Quayle has revealed.
Columbia Threadneedle Investments will launch 13 Sicav versions of Oeics ahead of the UK’s exit from the European Union as the asset manager prepares to switch EU-based investors out of its UK-domiciled range into Luxembourg-domiciled alternatives.
Scottish Widows says Standard Life Aberdeen is a clear and material competitor and it, therefore, has the legal right to terminate its investment management agreement with the firm.
Clients of collapsed Beaufort Securities could lose up to 40% of the value of their holdings to cover liquidation costs, bringing into question the whole system of regulatory and legal protection of investors in the UK, according to campaign group ShareSoc.
UK pensioners who are still working could have to pay National Insurance (NI) contributions to help fund their care in later life, according to plans being considered by the government.
Standard Life Aberdeen has challenged Lloyd Banking Group’s decision to pull out of a £109bn ($148bn, €124bn) contract, arguing that there are no material competition concerns.
Australia banking giant ANZ has announced it will stop paying bonuses to financial planners selling its products, as it looks to change its banking practices in response to a royal commission focussing on misconduct in the sector.
Confidence in the security of assets held in Jersey and Guernsey trusts has been restored following a recent ruling in the Privy Council, says Nick Robison, partner at law firm Babbé, which was involved in the case.
The Financial Ombudsman Service has ordered Nutmeg to pay a former client for “numerous mistakes” surrounding direct debits on his pension plan that were likely to cause irritation.
Old Mutual Wealth appoints an industry veteran to its specialist pensions team, the Phoenix Group chairman announces his retirement and embattled AMP appoints an executive chairman.