News

The Financial Conduct Authority (FCA) has warned of a scheme encouraging pension savers to transfer money from their work pension schemes into self-invested personal pensions (SIPPs) to be invested into an AIM listed company.

A network is planning to test its independent advisers' knowledge on unregulated collective investment schemes (UCIS), and if they fail, will ask them to become restricted.

RBS has reserved £400m for a currency probe as it reported a third successive quarterly profit thanks to reduced costs and strengthening economic conditions.

Sesame is "not alone" in selling places on its restricted panel of product providers to the highest bidder, executive chairman John Cowan has said, as the network reels from a £1.6m fine for the banned practice.

Sesame, the UK's largest network of financial advisers, has been fined £1.6m by the Financial Conduct Authority (FCA) for setting up a pay-to-play scheme that "undermined the ban on commission payments brought in by the Retail Distribution Review (RDR)"....

L&G is to reduce ongoing charges by up to 55% on selected retail index funds in the latest sign of price pressure in the passive investment space.

Past and present appointed representatives (ARs) of Sesame have expressed their anger at being told advice previously passed by the network as suitable has now been deemed wrong in a widespread review following a £6m fine from the regulator.

Henderson has reported strong net UK retail inflows of £814m for the third quarter but cautioned difficulties lie ahead for investors.

Barclays has reported a 15% rise in Q3 profit but also set aside £500m for potential fines relating to manipulation of foreign exchange markets.

New business at wealth manager St James's Place (SJP) was up 18% in the third quarter of the year to £212m as clients took advantage of increased ISA limits, interim results show.