towry fined GBP 494900 by fsa
Wealth manager Towry has been fined almost half a million pounds by the FSA for breach of two key principles, including treatment of client money.
Regulation
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axa wealth against delay to ban on rdr legacy commission
Axa Wealth’s chief executive argues against the potential for the FSA to delay banning legacy commission.
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fsa fines three over ucis failings
The FSA has fined three directors at two firms over their failure to ensure retail customers go suitable UCIS advice.
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Uk reporting status a must for et fs
ETFs are under the spotlight again following the arrest of the alleged UBS rogue trader.
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Smith: UBS scandal highlights ETF risks
ETF cynic, Terry Smith, said UBS’ rogue trader has highlighted risks inherent in this rapidly expanding asset class.
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Post-RDR: will multi-managers replace due diligence?
Inflows into multi-manger funds are likely to increase post-RDR, but is there a danger IFAs will use them to outsource due diligence?
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FSA fines Rockingham Independent £35k
The FSA has fined the Peterborough-based firm for selling Ucis to investors they were unsuitable for, and hit the firm’s directors with partial bans.
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Cayman court finds two hedge fund directors negligent
A Cayman Islands court has found two directors of a failed hedge fund guilty of "wilful neglect".
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FSA brings High Court injunction in market manipulation case
The FSA has obtained an interim High Court injunction in an ongoing market manipulation case.
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PA ANALYSIS: RDR could limit advice not increase it
Advised sales are falling and with RDR still to come this proportion could continue to fall.
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Credit rating agencies under fire from new EU Authority
ESMA intends to reduce over reliance on credit ratings agencies with asset management.
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IFA outsourcing to rise ahead of RDR start
IFAs are expected to increase outsourcing client portfolios to discretionary managers ahead of RDR
