News

The Financial Services Compensation Scheme (FSCS) has reduced the amount of compensation it is planning to collect from AWD Chase De Vere over its sale of Lifemark-backed Keydata investments, the national IFA has said.

Global markets bounced back sharply last month, with some of the most heavily sold off equities in Europe up by huge margins.

Martin Currie Investment Management has hired a North American specialist manager, in a bid to turnaround performance of its flagship fund which has slumped to the bottom quartile of the IMA North America sector.

The European parliament is set to reject a ban on commission to independent financial advisers (IFAs) when it votes on MiFID II next week.

The reputation of the UK banking sector hit a new low last week after the FSA hit Barclays with its largest ever fine of £59.5m for breaching LIBOR regulations.

Barclays bank chairman Marcus Agius has confirmed his resignation, admitting the "the buck stops with me" for the firm's interest rate fixing scandal.

Investment manager GAM has slowed inflows into its catastrophe bond fund, launched in the fourth quarter of last year, due to capacity constraints in the sector.

John Kennedy has deleveraged his £588m Scottish investment trust, converting its entire gearing component into cash equivalents to shield the portfolio against a further market set-back.

The Financial Services Authority (FSA) will be the biggest winner following the retail distribution review (RDR), according to a survey of 280 advisory firms.

Aviva has fired dozens of senior managers and may look to offload a fifth of its business units after carrying out a review of the company, according to reports.