News

Bank of America Merrill Lynch is close to agreeing a $16bn-$17bn settlement over its handling of mortgage-backed securities in the run up to the financial crisis, according to reports.

International investor demand for European equities helped Henderson boost retail net inflows by more than seven times in the first half of 2014.

Old Mutual Wealth's soon to be re-branded Skandia platform today reported profits had jumped 400% in the first half of 2014 to £10m, while assets in its recently-launched WealthSelect range hit £1bn.

Henderson Global Investors has hired a multi-asset director to expand its retail and institutional business.

The cyclicality of listed asset management businesses has been called into question as big names spring dividend surprises and attract the interest of UK equity income managers.

The Financial Conduct Authority (FCA) has launched a consultation on the use of social media by regulated firms, after outlining its expectations of companies when communicating with customers via channels such as Twitter.

UK and European equity markets have pulled back again this morning after two mega M&A deals fell through and geopolitical tensions increased.

Proposals from Europe to restrict the use of dealing commissions to pay for investment research have been rejected by the Investment Management Association (IMA) and the Wealth Management Association.

The FCA has used its consumer protection powers for the first time, banning the sale of contingent convertible securities to the mass market.

Legal & General is to roll out an expanded D2C platform offering by the end of 2014 as it seeks to complement Cofunds with an enhanced direct service.