correcting for tilt
Management groups have been busy introducing clean-fee share classes for their funds, but thorny questions still remain about how exactly they demonstrate past performance track records.
Regulation
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esma signs alternative investment fund agreement
The European Securities and Markets Authority (ESMA) has approved co-operation arrangements on the supervision of alternative investment funds between EU regulators and 34 jurisdictions across the rest of the world.
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Financial complaints hit record levels
The number of new cases dealt with by the Financial Ombudsman increased 92% between 2011 and 2012 bringing the total number of new cases for the year to 508,881.
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Platform paper puts consumers in the driving seat
Ian Sayers, director general of the AIC, has welcomed the FCA's long-awaited rules outlining how platforms can be paid going forward.
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RDR increases attractiveness of UK market
The UK has become a more attractive investment destination in the past year due in part to the wider range of choice offered to investors as a result of RDR, according to research from Morningstar.
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AIFMD continues to plague hedge fund managers
Hedge fund managers are remaining tight-lipped following HM Treasury’s decision to allow new funds to continue to market as normal for the year following the implementation of the Alternative Investment Fund Manager’s Directive (AIFMD).
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big three blame smaller platforms
The issue of client assets held in no-man’s land due to delays in platform re-registration must be resolved, according to Skandia, which has written to other providers urging them to get their shops in order.
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cass business school launches masters in wm
The Chartered Institute for Securities & Investment (CISI) and Chartered Insurance Institute (CII) have clubbed together with Cass Business School to offer a new part-time masters in wealth management.
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fsa accused of shoe-horning as 70 question
The latest survey of regulated firms on their opinion of the FSA and the first on expectations of the FCA will not have made fun reading for the new regulator.
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the fca plan to review firms dodging rdr
The FCA is to launch a review later this year into instances where advisers are trying to circumvent RDR, naming it “Distortion of the RDR”.
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private bank fined for money laundering failure
EFG Private Bank has been fined £4.2m by the FCA for failing to establish and maintain effective anti-money laundering (AML) controls for a period of more than three years.
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fears of adviser mass exit overstated
The number of authorised firms in the UK decreased by just 14 between February and March, from 23,596 to 23,582, slowing dramatically from the 233 that exited the market in the month before, according to research from Matrix Solutions.
