Financial services

The adoption of Ucits III by absolute return managers has coincided with a period when confidence in offshore investment funds has never been lower, writes Merchant Capital's George Cadbury.

Cofunds chief executive Brett Williams believes proposed changes to platform remuneration is likely to lead to increased costs and heightened adviser confusion.

The FSA is set to bring in new capital adequacy requirements for platforms, it said today in its platform discussion paper, warning the cost of ongoing business for some players will increase.

The FSA believes there is there is no consumer detriment in allowing advisers who operate under COBS rules to maintain their current commission based charging.

The FSA has indicated it is leaning towards abolishing all payments to platforms from product providers.

The FSA has made a major upward revision of the RDR's costs in its policy statement today.

London's financial community feels it is fighting a war on two fronts: the prospect of being hamstrung by pending EU measures and suffering targeted attacks from the government at home.

The House of Lords EU Committee has written to Financial Services Secretary Lord Myners to express its concerns over "flawed" EU investment proposals.

The AIFM directive was drafted by the EU in response to what it saw as an absence of common regulatory standards for non-Ucits investment vehicles and there are six key issues that specifically affect the UK-listed closed-ended fund sector.

A raft of new measures designed to give regulators more power in tackling city crime are to be unveiled in the Queen's Speech this week.