Europe
bank deposits and fund navs slip
The total value of bank deposits held in Jersey decreased by around 2.8% in the second quarter, while the total net asset value of funds under administration slid by just under 2%, as sterling weakened and global commodity prices rose.
new european commission rules clamp
New rules which will severely curtail the so-called “shadow banking” industry, including money market funds, in Europe have been proposed today by the European Commission.
stm group posts 500000 profit in first half
STM Group posted an after-tax profit of £456,000 in the six months to the end of June compared with a loss of £21,000 during the same period a year earlier, as its pensions division continued to attract new business.
feifas stanfield comments as industry debates
The head of a trade association set up in 2009 to represent financial advisers catering for expats in Europe says his organisation is doing what it can to promote high standards on the continent, as industry concern over the matter of unregulated advisers practicing there and elsewhere outside the UK grows.
eurozone optimists too simplistic
F&C’s Ted Scott is still cautious over the rate of the eurozone’s recovery despite improving economic data relating to the region.