News

A former security chief at Lloyds Banking Group has been jailed for five years for submitting false invoices to claim payments from the bank.

Connaught Asset Management has entered administration following the suspension of its three unregulated collective investment schemes (UCISs).

Venture capital trusts (VCTs) are facing the prospect of a steep decline in fundraising if they are not granted an exemption from the FSA's ban into the sale of unregulated collective investment schemes (UCIS) to retail investors.

The Association of Independent Financial Advisers (AIFA) is to change its name to the Association of Professional Financial Advisers (APFA).

Victims of Bernard Madoff's fraud are being mailed a slice of a $2.4bn payout, bringing their total recovery amount so far to more than triple the amount initially set aside.

Bank of England governor Mervyn King has called the end of the recession in the UK and pointed to signs of growth returning to the economy.

Legal & General Investments' Frank McGarry is leaving the business, Investment Week understands.

F&C Investments has moved to cut the annual management charge (AMC) across its £385m Lifestyle range, run by co-heads of multi-manager Gary Potter and Rob Burdett.

Broker Oriel Securities has compiled a ten strong list of investment trusts trading on discounts which are too attractive to ignore, while also naming ten companies which are too expensive to own.

Fidelity is continuing to trim down its range of funds ahead of RDR after announcing it intends to merge its Fidelity Portfolio fund into one of Trevor Gretham's Multi-Asset funds.