News

Thousands of ‘accidental Americans' could be unwittingly caught by the Foreign Accounting and Tax Compliance Act (FATCA) from July, leaving them exposed to US tax liabilities, Vestra Wealth has warned.

Santander UK has agreed to pay redress to affected customers after the Financial Conduct Authority (FCA) fined the bank £12.4m for what it said were "widespread" investment advice failings.

Shares in Lloyds Banking Group fell more than 5% this morning after the government sold another 7.8% of its stake in the bank last night.

Standard Life has confirmed it will offer 290 discounted ‘superclean' funds on its platform, at an average AMC of 53bps, following months of negotiations.

Henderson Global Investors has scrapped plans for the creation of preferential share classes in order to offer intermediaries a ‘level playing field.'

Psigma Investment Management has made a play for Barclays Wealth clients with less than £500,000, after the bank itself scrapped its bespoke service for lower net worth clients.

The Financial Conduct Authority (FCA) is preparing to fine Santander UK in the region of £12.5m for faulty investment advice, according to reports.

Standard Life Investments has agreed to buy Ignis Asset Management for £390m, in a move which will also see the group work more closely with Ignis' parent Phoenix Group.

The government last night sold another 7.8% of Lloyds Banking Group to institutions in its continued effort to return the government-backed bank to shareholders.

Sam Liddle has joined Church House Investment Management to head up sales of its low volatility fund range to the UK IFA market for the first time.