FCA to crack down on unacceptable defined benefit pension transfer advice June 19, 2019 The Financial Conduct Authority today warned that it is to crack down on poor advice around defined benefit pension transfers. The City watchdog said too much advice it has seen to date is “not of an acceptable standard”. The FCA said it was concerned that too many financial advisers are recommending that large numbers of [...]
Woodford failed to warn Hargreaves Lansdown of unquoted stocks breach June 19, 2019 Neil Woodford failed to warn Hargreaves Lansdown that his now suspended fund twice breached an investment limit in unquoted stocks. The fund supermarket had insisted Woodford Investment Management informed it if the equity income fund breached a 10 per cent limit. This followed concerns that the proportion of unquoted assets in the fund had increased. [...]
Facebook confirms launch of own cryptocurrency June 19, 2019 | City Talk By Gary McFarlane from interactive investor. The social media giant announces its own cryptocurrency, called ‘Libra’ that aims to be ‘global money’. Facebook (NASDAQ:FB) has announced Libra coin, a cryptocurrency that aims to be global money and is set to launch in early 2020. A new app is joining the Facebook family called Calibra (https://calibra.com/), which will act as [...]
CYBG to rebrand as Virgin Money to ‘disrupt status quo’ of UK banking June 19, 2019 Clydesdale and Yorkshire bank owner CYBG will be renamed Virgin Money in a major rebranding to “disrupt the status quo” of UK banking. CYBG acquired Virgin Money last year in a £1.7bn deal and will now adopt its name across its business by the end of the year. Read more: CYBG shares jump as it [...]
Metro Bank and Network Rail bosses voted among most popular by staff June 19, 2019 Metro Bank staff have backed their boss Craig Donaldson in a list of the UK’s most popular chief executives. Despite Metro Bank’s tough start to the year, chief executive Donaldson came third in recruitment firms Glassdoor’s top 50 CEOs list with a 98 per cent approval rating from employees. Read more: Troubled Metro Bank slashes [...]
Obscure fees could be eroding your pension – here’s what you should be paying June 19, 2019 If you’ve ever endeavoured to compare fees charged by pension providers, you’re probably sat wild-eyed, rocking yourself back and forth. Despite the push to rid the financial sector of opaque and confusing charging structures, it’s still incredibly difficult for consumers to compare the fees levied by pension providers. Not only can it be difficult to [...]
Debunking the dropout-hero narrative June 19, 2019 It often happens. In meetings, at networking events, or even around dinner tables. “So, where did you go to college, Andrew?” “MIT,” I respond. Naming the Institute usually draws impressed looks. “But I left before graduating to build my own company.” Choosing not to complete university historically evoked suspicion, even sympathy. But that is not [...]
Fraudsters target children as young as 11 to launder money June 18, 2019 Identity fraud reached record highs last year and criminals targeted children as young as 11 to launder money. Criminals targeted younger people and pensioners, the UK’s fraud prevention service Cifas revealed in its annual report. The figures showed more than 189,000 fraud cases were reported last year with plastic card fraud proving the most common. [...]
Sainsbury’s Bank outage: Customers locked out of online banking June 18, 2019 A Sainsbury’s Bank outage spurred customers to take to Twitter today to complain they could not access their accounts online. Read more: The UK banks with the most IT outages Neither the supermarket’s new app nor online banking service wereworking for customers, with Down Detector reporting dozens of complaints this morning. An outage map showed [...]
Technology fuels increasingly mobile future for investment professionals June 18, 2019 | City Talk CFA Institute report finds that nearly half of investment professionals expect their roles to substantially change within the next decade.
