News by: Daniel Grote
Markets
Former IFA admits to £1 million fraud
Former adviser Malcolm Green has pleaded guilty to more than 40 offences in a £1 million fraud case, according to the Grantham Journal.
Sants blames Tiner as MPs grill FSA over RBS failure
Financial Services Authority chief executive Hector Sants has attempted to shift the blame for the regulator's actions in the run-up to the failure of Royal Bank of Scotland on his predecessor John Tiner.
FSA fines traders £195k following US hedge fund failures
The Financial Services Authority has handed out a further £195,000 in fines in the wake of the failures at hedge fund Greenlight Capital.
Boost to VCTs as court rejects gov't appeal over solar subsidies
Venture capital trusts have been handed a boost after the government lost its appeal against a High Court ruling that its planned cuts to solar feed-in tariffs were illegal.
UK economy shrinks as recession fears take hold
The UK economy shrank by 0.2% in the final three months of the year, figures from the Office of National Statistics have revealed.
Advisers should beware the new regulator's approach
A regulator that sees it duty as removing potential pitfalls from the path of irrational consumers may well start to train its eyes on IFAs.
New regulator: product bans will protect 'irrational' investors
New regulator the Financial Conduct Authority (FCA) has outlined its plans to use powers to ban the sale of potentially harmful products to protect 'irrational' investors.
Swipe at Goodwin removed from FSA report into RBS
A criticism of Fred Goodwin's ability to run a global bank was cut from the Financial Services Authority's (FSA)report into the collpase of Royal Bank of Scotland, it has emerged.
Legacy commission demands would dilute RDR
Protests from life companies about the Financial Services Authority’s plans to ban legacy commission are getting louder, but they need to be resisted if one of the retail distribution review’s key principles is not to be undermined.
Cable launches clampdown on executive pay
Business secretary Vince Cable has unveiled plans to curb executive pay by boosting shareholder power.
Old Mutual merges European wealth management businesses
Old Mutual is to merge its French and Italian wealth management businesses with its Skandia Retail Europe arm, which operates in Germany, Austria, Poland and Switzerland.
Eurozone ministers reject Greek debt deal
Eurozone finance ministers have dealt a blow to progress on restructuring Greek debt after demanding private investors accept a lower interest rate on any new Greek bonds, according to the Telegraph.
Invesco's Causer and Read call bank recovery with fund launch
Invesco Perpetual's co-heads of fixed income Paul Causer and Paul Read are to launch the Invesco Perpetual Global Financial Capital fund in order to profit from the recovery of the banking sector.
Battle lines drawn in legacy commission fight
The Investment Management Association's response to the Financial Services Authority's consultation on the treatment of legacy commission post-retail distribution review has laid bare the divide that exists across financial services on the issue.
What the Arch Cru legal claim means for investors and IFAs
Even if a successful case brought against ex-Arch Cru fund managers Arch Financial Products it is unclear whether the £150 million being claimed could be recovered. So where does that leave advisers and investors?
New model advisers shine despite economic gloom
The growing economic gloom has not stopped new model advisers develop and grow their businesses.
Government considers private sector pension cuts
The government is considering scrapping inflation protection for private sector defined benefit pension schemes, according to the Financial Times.
Which? survey reveals huge variation in IFA fees
A study by consumer group Which? has revealed a huge variation in IFA fees across the UK, with one quoting £2,450 more than the cheapest alternative for the same service.
BCC warns of UK stagnation as eurozone crisis takes toll
The British Chambers of Commerce has warned of stagnation of the UK economy in the first half of the year, but argued that a recession is not a 'foregone conclusion'.
MF Global clients vent anger at administrators KPMG
KPMG has defended its role as administrator of MF Global, as it faced a meeting with clients of the failed broker who have yet to receive their money back.