News

Annual costs have reduced returns of the average equity fund by 27.9% over a ten-year period, a Lipper report has revealed.

Barclays has been slapped with the largest-ever fine by the FSA and a huge penalty by the US authorities after it breached rules regarding LIBOR.

Non-advised platform assets under administration will grow at a compound annual growth rate of 71% between 2011 and 2014, according to figures from Deloitte.

Today's confirmation that cash rebates will be banned is a 'blow' to wrap platforms and presents a 'significant challenge' to their business models, fund supermarket Skandia has said.

Hargreaves Lansdown is confident its business model has the flexibility to cope with the ban on platform rebates proposed today by the Financial Services Authority (FSA).

German chancellor Angela Merkel has again ruled out the creation of jointly-issued eurozone debt ahead of a crucial summit in Brussels this week.

Glencore is under pressure to improve the terms of its $30bn offer for Xstrata after the latter proposed new compensation arrangements, and a leading shareholder came out against the deal.

The Financial Services Authority (FSA) has suggested it will not extend its proposed ban on platform rebates to life companies, but has promised to explore the issue further.

The ban on rebates from fund managers to platform providers is to cost platform operators up to £10m a year, the FSA has said.

The Financial Services Authority (FSA) has this morning confirmed its intention to ban both payments from providers to platforms and cash rebates to consumers.