DFMs clients intermediaries post RDR
With RDRs first anniversary a few weeks away more than four in ten intermediaries feel that they are now offering better quality investment advice, according to research from Investec Wealth & Investment.
Regulation
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FCA fines Lloyds banks 28m
Lloyds TSB and Bank of Scotland have been fined more than £28m by the Financial Conduct Authority, its largest-ever fine for retail conduct failings.
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EC fines banks 1bn over interest rate rigs
The European Commission has fined a group of eight financial institutions a total of 1.7bn (£1.4bn), for forming illegal cartels to rig interest rates.
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Forum sets out stall for equity investors
The Investor Forum has been launched by the Collective Engagement Working Group as a response to the Kay Review on equity markets and long-term decision making.
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Calastone enables auto rereg for 80 of FMs
Over 80% of UK fund managers can now automate their asset re-registration via associated third party administrators (TPAs), according to Calastone.
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Price war on cards as FMs turn to restricted
Further unintended consequences of the RDR may be a price war over discounts on active funds and a shift towards restricted offerings, according to a recent study commissioned by International Financial Data Services.
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FCA fines SEI nearly for client money failings
SEI Investments has been fined £900,200 by the Financial Conduct Authority for client money breaches.
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Fund buyers must get braver now RDR is in force
The RDR will encourage a braver breed of fund buyer as they attempt to differentiate their offerings from the competition, according to the Group of Boutique Asset Managers.
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SJP hands over redress
Wealth network St Jamess Place has paid out more than £1m to compensate the clients of a rogue adviser.
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The FCAs 100k social media bill
The City regulator has spent more than £100,000 on social media, clocking up its bill by training staff on Twitter and Facebook as well as monitoring and analysing online platforms.
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FCA bans investment consultant for market abuse
The FCA has banned an investment consultant for market abuse but spared him a fine.
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Rathbones considers appeal in Jersey trust battle
Rathbone Brothers is deciding whether or not to lodge an appeal after a legal battle against a former employee and director drew to a close.
