News 20 Nov 17
Advisers still misleading public with fake credentials
Almost two thirds of financial advisers listed on online directory Unbiased are misleading the public with false credentials, a figure that has not improved since the last time the review was carried out 18 months ago, according to new research by a consumer watchdog.
European fund groups to absorb Mifid research costs
More than half (53%) of European investment professionals expect firms to absorb the cost of research under Mifid II regulations, according to a survey by the CFA Institute.
Inducement ban detrimental to consumers, warns CISI
An outright ban on the offering or acceptance of inducements within the financial services industry will lead to “opportunities for people to understand each other” being missed, the Chartered Institute for Securities & Investments (CISI) has warned.
Gina Miller on Mifid: If I can do it, why can’t you?
There is “no excuse” for firms that fail to prepare for Mifid II before January, according to SCM Direct founders Alan and Gina Miller who have launched a “fully compliant” service of their own.
Capita Financial Managers fined £66m for fund failure
Capita Financial Managers (CFM) has been ordered to repay investors £66m after one of its low-risk funds went into liquidation.
JOHCM under FCA investigation over dealing commissions
JO Hambro Capital Management (JOHCM) is under investigation by the Financial Conduct Authority (FCA) for about AUS$8.6m of services paid for out of dealing commissions over the course of a decade.