Concern that over one third of financial services are unsure if they are MiFID II compliant What is MiFID II? MiFID II is an EU Directive which comes into force January 3rd 2018. Its purpose is to offer greater protection for investors and create greater transparency in all asset classes: from equities to fixed income, exchange traded funds and foreign exchange. How will it affect investment decisions? The legislation…
Pensions uncertainty Almost half of business owners without a workplace pension scheme are still unclear about their responsibilities, with a quarter not confident their business can cope. and FSB pole has found… 26% The proportion of small firms that say they would recommend their bank to others – up from 23% in 2014. £255bn The amount owed by British small firms in late payment according to insurance firm Zurich.
Government review will examine whether pension age should continue to be linked to life expectancy. Speculation is rife that a new review of retirement age will lead to workers joining the workforce now not receiving their state pension until at least their mid-70s. The study, which will report to the government next May, will be headed by John Cridland, the former CBI boss. It’s a scheduled assessment due to be…
There are some big changes in employment law in 2016, and companies need to be prepared Employment law is constantly evolving, as new rules and regulations come into force, and as such it’s imperative employers are informed and prepared. 2016 will see a number of important changes of which all employers should be aware Pensions State pensions are set to be radically overhauled in April with the introduction of…
Tasting the Freedoms: savers have spent the money or held it in cash The Pensions and Lifetime Savings Association has published its latest wave of research on patterns in retirement following the reforms. Of those adults aged 55-70 surveyed, the majority, 63%, had started to look at how they would take their pension, and 23 per cent had done nothing. Of those that accessed their pension, 18 percent spent…
The Week in Numbers 225 – Number of Investment Advisers Santander expects to employ by the end of March 7% – Fall in China’s CSI 300 index on Monday, triggering newly-introduced “Circuit-Breakers” that halted trading for the day 21% – Rise in mortgage approvals year-on-year in November, according to Bank of England Figures 13k – Number of new affordable homes the Government plans to build this year through directly…
The Week in Numbers 5 – Number of organisations that should merge to become a single trade body, according to a review chaired by former Ofcom chief Ed Richards. The list includes the CML and the BBA £3.7m – Amount in Hargreaves Lansdown shares sold by investment marketing director Ian Hunter 99 – Number of companies that have defaulted on their debt this year, according to Standard & Poor’s….
The Week in Numbers 34% – Year on year rise in SIPP claims reported by the Financial Ombudsman Service, from 210 in Q3 2014 to 281 in the same quarter this year 10 Years – Length of SIPP administration deal agreed between Curtise Banks and Zurich 100 – Number of Sanlam Wealth Planning employees whose jobs are under threat after the firm placed its Rhyl and Worcester offices under…
The Week in Numbers – 13th Oct 2015 6 – Number of former brokers standing trial at Southwark Crown Court facing charges of Libor rigging 80% – Proportion of cash lump-sum withdrawals since pension freedoms made by savers under 65, according to the ABI £35K – Funds pledged by the CISI to promote financial planning following its merger with the IFP £3.5m – Cash injection secured by adviser reviews…
51% – Proportion of people who do not know if their provider levies charges for managing their pension pot. 0% – CPI inflation in August, down from 0.1% in July according to the Office for National Statistics 80% – Proportion of investment houses that publish out-of-date fund data, research by fintech company Instinct Studios shows 5.2% – House price growth in the year to July 2015, down from 5.7%…
