Tax & Regulation | 20 May 15
Hargreaves shares fall on FSCS levy spike
Despite announcing plans to dip its toes into the non-advised space, shares in Hargreaves Lansdown fell around 3% on Wednesday, largely in response to it highlighting the significant increase in its Financial Services Contribution Scheme levy payment.
Middle East | 20 May 15
Holborn adviser faces UK ban for UCIS mis-selling
A financial adviser currently employed by Holborn Assets in the UAE has been fined and banned in the UK after the Financial Conduct Authority found him guilty of knowingly recommending inappropriate, high risk products to retail clients.
United Kingdom | 20 May 15
Openwork scraps APFA membership
Advisory networking giant, Openwork, has decided to ditch its membership with the Association of Professional Financial Advisers (APFA).
Global demand for income products highest in Asia
Asian and United Arab Emirates investors show the highest demand for income products globally, according to a survey by Schroders.
Robo-advisers will struggle to make profit, says Morningstar
Robo-advisory firms will have to eat through all of the capital they raised in order to reach a profitable scale, according to fund research firm Morningstar.