95 per cent of ifa firms
Just under 95% of IFA firms still have to get their business models ready for the post-RDR financial services landscape, according to new analysis from IFA database MyTouchstone.
Regulation
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20bn tax rebate predicted for uk funds
UK investment funds could be due tax rebates to the tune of 20bn following a ruling by the European Court of Justice to ensure French corporate tax law does not discriminate against foreign investors.
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martin currie fined by fsa and sec
Martin Currie Investment Management has been fined £3.5m by the FSA for failing to manage a conflict of interest, the largest ever fine of its type.
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aic rdr-readies its charges methodology
The Association of Investment Companies (AIC) has altered its charges methodology to allow easier comparison of its members’ closed-end funds with their open-ended counterparts in the run up to RDR.
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fsa clarifies 30m rule covering rdr activities
The FSA has confirmed that the 30-month rule applies to “most but not all” RDR activities.
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ima calls for us Treasury to delay fatca
The Investment Management Association has written to the US Treasury asking for a delay to the implementation of its FATCA regualtions.
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fsa targets ucis in death bonds
The FSA has confirmed controversial guidance against traded life policy investments (TLPIs or ‘death bonds’) and said it will shortly consult on the products along with other non-mainstream investments such as Unauthorised Collective Investment Schemes.
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fsa warns advisers off dfms and model portfolios
The FSA has issued guidance against the widespread and unsuitable use of DFMs and model portfolios ahead of the implementation of RDR.
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fsa looks to fine cazenoves hannam
The FSA has published a decision notice to fine JPMorgan Cazenove’s chairman of capital notice, Ian Hannam, £450,000 for market abuse.
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investment services complaints
The FSA has released complaints data for the second half of 2011, with some well-known firms listed for failure to provide adequate investment services.
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fsa fines coutts for serious and systemic
Coutts & Co has been fined £8.75m by the FSA for anti-money laundering (AML) control failings, which the regulator has termed “serious, systemic and allowed to persist for almost three years”.
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fsa issues guidance against structured product
The FSA has issued its final guidance on structured products, calling on providers to stress-test new products to ensure they are capable of delivering fair outcomes for investors.
