Breaking: Gaudi goes into administration after sale
Sipp provider and fintech Gaudi Regulated Services has gone into administration on the same day the firm sold its pension business book to platform provider Platform One. The FCA said directors of the Salisbury-based firm decided it was insolvent due to liabilities from outstanding Financial Ombudsman Service complaints. The Financial Services Compensation Scheme is now […]
Struggling with prospect emails? Fidelity Labs’ Catchlight says generative AI can help
FCA warns on mismanagement of trusts
The FCA has issued a warning today about the potential mismanagement of ‘asset protection’ trust schemes. It said it had seen cases of firms seriously mismanaging trusts with unsuitable investments being made by trustees. The regulator warned: “It is possible for trust assets to be inappropriately invested, including into high-risk illiquid assets. In most cases, […]
Schwab could be worth more without its bank, JPMorgan says
FCA to boost resilience of LDI managers
The Financial Conduct Authority has set out a number recommendations for asset managers to improve the resilience of Liability Driven Investment (LDI) funds. The move follows recommendations published recently by the Bank of England’s Financial Policy Committee. The watchdog has created guidance on risk management and operational arrangements for LDI managers so that they can, […]
Look for alternatives to crypto, other risky plays: 5 takeaways from SEC Reg BI bulletin
Editor’s Comment: Reasons to see a planner, part 3
Reasons to be Cheerful, Part 3 has always been one of my favourite Ian Dury songs. It came to mind this week as we reported on the reasons to see a financial adviser. It’s always been a question on my mind as to the reasons why consumers opt to see a financial adviser. What are […]
AJ Bell appoints new chair as Morrissey exits
Platform provider AJ Bell has appointed former Hargreaves Lansdown director Fiona Clutterbuck as its new chair to replace outgoing chair Baroness Helena Morrissey. Ms Clutterbuck will step down from her current role as a non-executive director at M&G when she becomes chair. AJ Bell, founded by industry entrepreneur Andy Bell, has gone through a number […]
London man ran fraud site which conned 200,000
A 35-year-old London man has pleaded guilty to being a key figure in running a website used by fraudsters who are believed to have conned 200,000 UK consumers out of over £43m. Tejay Fletcher, of Western Gateway, Docklands, London was a leading administrator of the ‘iSpoof’ fraudster website. The website provided fraudsters globally with services […]