News

Morningstar has voiced concerns about the lack of succession planning in the funds industry and the reluctance of groups to hand over large pots of money to young talent.

Vodafone shares have jumped to the top of the FTSE 100 leaderboard on talk that US peers Verizon and AT&T are working on a $245bn break-up bid for the firm.

Advisers and clients could get "caught out" by the new tax treatment of payment of trail commission, according to James Hay Partnership.

Harlequin Property, the UK-based overseas property sales agent that is at the centre of a Serious Fraud Office (SFO) investigation, has lost its second auditor in under three years.

City Financial has acquired OPM Fund Management for an undisclosed amount, taking over its £75.2m fund range in the process.

Regulators have levied fines worth more than £1bn on UK companies and managers for fraudulent activity since 2007, with financial services firms alone charged £560m.

Jupiter chief executive Edward Bonham Carter has criticised EU proposals to cap fund manager bonuses, saying the moves could jeopardise industry stability.

Japanese shares have slumped in this morning's trading as equity markets struggle to consolidate gains seen in the first quarter of 2013.

The Financial Services Authority (FSA) ceased operation yesterday and was replaced by two separate new regulators.

Lord Adair Turner, chairman of the now-disbanded Financial Services Authority (FSA), has joined the economics thinktank founded by billionaire George Soros.