Novia’s Vasilieff calls on FCA to ban exit charges
The FCA should ban exit charges and admin fees charged by restricted advisers and platforms for facilitating transfers, Bill Vasilieff, chief executive at investment platform Novia Financial says.
Author: Sebastian Cheek
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Miton CEO: No plans for EU-domiciled range despite Brexit
Miton feels under no pressure to add an EU-domiciled range of funds to its roster despite the Brexit vote, according to its chief executive David Barron.
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FCA echoes BoE’s worry over consumer credit
The Financial Conduct Authority (FCA) has echoed the Bank of England’s recent concern over escalating levels of consumer credit in the UK.
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Merwanji hire boosts GAM’s private client business
GAM has strengthened its private clients and charities business with the hire of Perhad Merwanji as portfolio director.
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PA ANALYSIS: The Senior Managers and Certification Regime explained
Portfolio advisers are to be subject to a new regulatory regime initially devised to make senior managers in banks responsible for the actions of staff, but soon to be applied to staff in 47,000 financial services firms.
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Higher IHT take points to a more aggressive HMRC
The IHT take has risen dramatically in the last two years leading NFU Mutual to warn that HMRC may be getting more aggressive with estates, even as the new nil rate residence band is introduced.
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Bond investors sleepwalking into duration risk
Two asset managers have warned that bond investors, particularly those in passive vehicles, are too exposed to duration risk without realising it.
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Revised managers’ regime will uncover ‘reckless and criminal’ firms
The Financial Conduct Authority’s extension of the senior managers’ regime will help weed out “reckless and criminal firms”, financial adviser support firm SimplyBiz Group says.
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BoE hires deputy governor and chief operating officer
The Bank of England has appointed David Ramsden as deputy governor for markets and banking, and Joanna Place as chief operating officer.
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US equities soar on Fed’s dovish sentiment
The US equity market hit new highs, but bond yields are expected to fall after the US Federal Reserve voted to keep rates on hold at its latest meeting.
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Monier backs long-term EM growth story
Emerging markets should deliver roughly twice the growth of developed markets and the differential is set to grow, the head of investments at Lombard Odier Private Bank says.
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PA ANALYSIS: Is Aramco an attractive opportunity?
The Financial Conduct Authority has raised eyebrows in some City circles by clearing the obstacles to a partial listing of Saudi Arabia’s state oil company Aramco in the UK.
