FCA
Tax & Regulation | 6 Jun 16
Strabens Hall claims PI payout ends insolvency threat
International IFA firm Strabens Hall says it no longer faces “inevitable insolvency” due to £1m in claims over ill-fated investments in the collapsed Connaught Income funds after reaching an agreement with its professional indemnity insurer.
Retirement | 3 Jun 16
Watchdog tells wrongly-advised client to pay £1,700 exit fee
A decision by Friends Life to charge a client a £1,700 exit fee for transferring a planned pension has been upheld by the UK’s Pensions Ombudsman Service (POS), despite being wrongly advised by her IFA.
Investment | 31 May 16
EEA investors offered ‘dismal’ price for run-off shares
Investors in the ill-fated EEA Life Settlements Fund have received a “dismal” strike price offer for their shares in so-called ‘death bonds’, according to campaign group EEA Investor’s Group (EEIG).
People Moves | 31 May 16
PEOPLE MOVES: Amundi, Pictet, Axa, FCA, ABI, UBS, BNY Mellon
Amundi announces a high-profile global advisory board, while Pictet names ex-Goldman Sachs director Dominique Joories to head its Singaporean banking unit. Axa reveals Jean-Laurent Granier, the chief executive of the group’s Mediterranean and Latam divisions, will step down next month while prominent figures from the UK’s insurance industry join trade body ABI.
People Moves | 27 May 16
Daniel Godfrey hired by FCA
Former Investment Association chief Daniel Godfrey has been hired by the Financial Conduct Authority on a consultancy basis, a spokesperson said.