European IFAs fight commission ban
A group representing financial advisers across Europe is petitioning the European government not to introduce a ban on commission payments, a move it says will damage small business and hurt investors.
Regulation
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Influential committee calls british fatca
A heavyweight committee of the UK parliament is calling for the introduction of a British version of a key aspect of the proposed US Fatca legislation.
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fsa proposes ban on ucis
The FSA has published proposals to ban the promotion of Unregulated Collective Investment Schemes (Ucis) to the vast majority of retail investors in the UK following a consultation on the products.
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advisers face tough competition for clients
Only 13% of investors will be looking for an ongoing advisory service in the fee-based aftermath of RDR, making them the most desirable and hard-fought for clients, new research from JPMorgan Asset Management claims.
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banks subpoenaed in libor probe
Barclays and six other banks have come under fresh Libor-rigging scrutiny after it came to light the New York attorney-general, Eric Schneiderman, has issued them with subpoenas.
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standard chartered agrees to 340m fine
Standard Chartered is to pay a $340m penalty to the financial regulator of New York, in an embarrassing concession to accusations it laundered money on behalf of Iran.
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BlackRock tools up advisers for fee based move
BlackRock has rolled out an online transitioning tool for advisers planning to move to a fee-based model ahead of RDR.
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fatca creates strategic dilemma for wms
The US Foreign Account Tax Compliance Act (Fatca) poses a genuine risk to the UK’s financial services, as the costs of implementing a compliant investment solution for US clients are simply too high, according to wealth manager London & Capital.
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fsa – expect to hear from us
The FSA has said it is looking at investor’s expectations from absolute return products due to concerns they could turn into the next misselling scandal.
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uk treasury launches consultation
The UK Treasury has issued a consultation document to invite responses to its plans to reform two provisions of its anti-tax avoidance legislation, in response to notification by the European Commission last February that the provisions were incompatible with certain EU treaty freedoms.
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ifas rail against arch cru redress
The Association of Independent Financial Advisers (Aifa) chose the last day of consultation to publish its challenge to the FSAs consultation paper for proposed redress for Arch cru victims, claiming it does not meet legislative tests.
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fsa shows commitment to punish
The FSA has fined Adrian Mark Mosley of Mosley & Company £10,500 and prohibited him from holding a significant influence function or acting as a sole trader.
