Staff still in the dark over looming Mifid rules
A fifth of business leaders have admitted their employees are not even aware of the sweeping changes that will come into force under Mifid II, a survey has revealed.
Regulation
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FCA rejects demand to review point of sale disclosure
Calls for a review of the complex and lengthy disclosure documents clients receive at the point of sale (POS) have been rejected by the Financial Conduct Authority despite the regulator admitting that customers can get confused.
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FOS backs complaint after client’s funds fall 50%
An ombudsman has backed a complaint from a former client of PFP Wealth Management after funds it chose for his pension slumped nearly 50% in the first year.
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Investment managers optimistic ahead of Mifid II
After a drop off in sentiment in the previous three months, asset and wealth managers in the UK are more optimistic about their overall business situation, according to the latest CBI/PwC Financial Services Survey.
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FSCS warns over plague of scams
The UK’s Financial Services Compensation Scheme (FSCS) is the latest body to warn consumers that scammers are using its reputation in a bid to defraud them.
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Aberdeen Standard absorbs Mifid research cost
Aberdeen Standard Investments, the investment arm of the recently-merged mega manager, has confirmed it will absorb research costs once Mifid II come into force early next year.
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Watchdog reveals scope of investment consultant probe
Conflict of interests and barriers to entry in the investment consultant world are set to come under the scrutiny of a government watchdog investigation.
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Government must tackle £200bn consumer debt crisis
The Financial Conduct Authority has called on the government to come up with a solution to Britain’s dangerous ballooning consumer debt problem.
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Boutique joins list pledging to absorb Mifid costs
SVM Asset Management has announced it will take on the cost of external research under Mifid II rules next year.
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Researchers to lose $1.5bn in critical post-Mifid era
A halving of the cash spent on research by investment managers could see banks lose $1.5bn in revenue once Mifid II rules come into force next year.
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Probe into £1.6trn consultant market handed to govt watchdog
Three of the largest investment consultancies have pledged to cooperate fully with a government investigation into the industry amid competition concerns.
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Mifid II research unbundling consensus grows, again
Deutsche Asset Management and Franklin Templeton are the latest firms to reveal they will take on the cost of research once Mifid II comes into force next year.
