Investment fraudsters steal £51m in three months
Scammers are showing an increased appetite for ripping off unsuspecting UK consumers after £51m was stolen in the first three months of 2018/19, figures from the City of London Police reveal.
Author: Kirsten Hastings
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UK political shake-up sees gold investments jump
The resignation of Brexit secretary David Davis followed swiftly by foreign secretary Boris Johnson saw a 237% jump in people purchasing physical gold on Monday compared with an average day, investment firm The Pure Gold Company has said.
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Rothschilds back retail investment platform
Two members of the famous Rothschild family have put their own money behind an AI-powered wealth manager offering for UK retail investors.
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Boiler room scam lands ‘Wolf of Wimbledon’ jail time
A fraudster known as the “Wolf of Wimbledon” has been given an additional four years in prison after failing to pay a more than £7.5m confiscation order, the Serious Fraud Office has confirmed.
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Wealth managers ‘taking advantage’ of clients’ trust
Half of UK investors don’t know what they are being charged by their wealth manager, according to discretionary manager Netwealth.
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Paul Feeney: We don’t want to be a firm of just bald blokes
Quilter chief executive Paul Feeney has admitted the company is “behind the eight-ball” on gender diversity as it floats on the London and Johannesburg stock exchanges on Monday following its demerger from Old Mutual.
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Cold-called investor wins compensation
A company that downplayed the risks of buying shares in unlisted companies to a cold-called investor has been ordered by the UK’s Financial Ombudsman Service (FOS) to put the investor into the position she would have been in had she never invested.
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Good news for investors in defunct Beaufort
Nearly all individual customers of Beaufort Asset Clearing Services are expected to be protected in full for the return of money and assets, the UK’s Financial Services Compensation Scheme (FSCS) has confirmed.
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The PI thorn in the side of DB pension transfer firms
Professional indemnity (PI) insurers are doing more than the Financial Conduct Authority to make the lives of IFAs providing defined benefit (DB) pension transfer advice difficult.
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Ex-SJP trainee adviser banned for faking qualifications
The FCA has slapped a fine and prohibition order on a former St James’s Place trainee financial adviser who repeatedly lied and faked a document in a bid to advise retail investors without gaining the necessary qualifications.
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UK taxman outlines tax avoidance enabler hitlist
HM Revenue & Customs has updated its guidance on who can be considered enablers of tax avoidance and the penalties they will face when caught.
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Phoenix top as FCA complaints hit 3.8 million
Consolidator The Phoenix Group featured heavily in data from the Financial Conduct Authority that shows complaints about all financial services firms rose by 13% in the second half of 2017, driven by payment protection insurance (PPI) claims.
