ExSJP partner faces 300k fine and industry ban
An ex-partner at St. Jamess Place faces an industry ban and £300,000 fine after his clients lost millions from investments into companies that he controlled.
Regulation
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Standard Life instils precautionary tax steps
Standard Life has said ensuring that its customers outside of Scotland remain part of the UKs tax regime is one of its three biggest priorities in the event of the countrys independence following its upcoming referendum.
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UK wealth managers still concerned over MiFID
UK wealth managers remain concerned about the high compliance costs associated with MiFID II and its incompatibility with the traditional structure of UK non-bank wealth managers, says Jonathan Sokhanvari, COO at Multrees.
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Chase de Vere ordered to pay compensation
The Financial Ombudsman Service has ruled in favour of a client which was advised by Chase de Vere to invest £145,000 into three high risk UCIS funds, six years before his retirement.
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Serious Fraud Office to investigate Timothy Schools
Timothy Schools, the former manager of the failed legal financing fund Axiom, is being investigated by the Serious Fraud Office, Portfolio Adviser understands.
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FCA fines and bans broker over dishonest UCIS
The Financial Conduct Authority has fined and banned an IFA for life after he was found to have sold unregulated funds to retail investors.
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Demographics regulation still driving WM MA
Demographics and regulatory issues are likely to continue to drive M&A within the wealth management space, says Bellpenny CEO, Kevin Ronaldson.
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Heavy fines reveal FCA clampdown on market abuse
Market abuse was one of the Financial Conduct Authoritys most handled offences in 2013, with the regulator issuing over £340m worth of fines for the crime.
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Ex-Investec trading duo lose baseless 6m
Two former Investec traders have lost a wholly incredible and baseless £6m bonus battle to their former employee.
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FCA issues social media guidance
The FCA has issued a guidance note on the use of social media for promotion of financial services products.
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Chewing the FATCA 10 commonly asked
Dalila Ver Elst, senior compliance officer at Maitland, answers 10 frequently asked questions about the implications of the Foreign Account Tax Compliance Act.
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IMA calls for conference alternative solution ESMA
The IMA has said it intends to hold a conference to establish an alternative model countering the proposal set out by the European Securities and Markets Authority (ESMA) on restricting the use of dealing commissions to pay for investment research.
