Funds

Alliance Trust chief executive Katherine Garrett-Cox has outlined three roadblocks which could hinder economic growth in 2013 and derail soaring global equity markets.

The Financial Services Authority is planning to ban rebates on legacy business which are paid by fund groups to platforms from 2016, in a move which will shake up the platform industry and force providers to charge groups for additional services.

Alliance Trust has reported its strongest yearly start for 20 years as markets soared at the start of 2013, but said the equity rally is unlikely to continue at the current pace.

Dermot Campbell, Managing Partner at Kuber Ventures on the FSA's long awaited decision as to whether EIS will be defined as an UCIS.

Graham Bentley has quit Skandia amid the fallout from the group's merger with Old Mutual.

COMMODITIES

ITs

Standard Life is investigating an error that has left thousands of advisers being quoted inflated fund prices on a number of platforms.

J.P. Morgan is proposing to alter the income mandate on its £96m European investment trust, in a move which would see it sell out of the UK and focus on continental Europe.

Hargreaves Lansdown co-founder Stephen Lansdown has joined Peter Hargreaves as a member of the Forbes list of billionaires.