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...Executives have been warned by regulators that even these changes may not go far enough, they added. SJP has a complex fee structure involving upfront fees and ongoing annual charges....
...The Financial Conduct Authority said that if social media influencers promoted financial products or services without proper authorisation, they may be committing a criminal offence punishable by up to two...
...Sally YoungLondon W8, UK...
...The Financial Conduct Authority said on Tuesday that if social media influencers promote financial products or services without proper approval or authorisation, they may be committing a criminal offence...
...In May last year it defended its strategy and urged shareholders to remain “disciplined and patient”....
...The company’s performance in 2023 may have given Bird some headroom, as the £6mn pre-tax loss reported was lower than the £612mn suffered a year before, and adjusted operating profits came in above analysts...
...For example, a new “sustainability improvers” label will be applied to funds investing in assets that may not be sustainable now, but are aiming to improve their sustainability over time....
...The Financial Conduct Authority has repeatedly warned wealth managers to ensure consumers are receiving value for money when they pay for financial advice, and this month it said it may crack down on high...
...SJP does not even know the number of clients to whom it may have to pay out. The £426mn provision was based on a “statistically credible representative cohort” of clients....
...The City regulator has warned advice firms it may crack down on customer charges, following concerns that some clients are overpaying....
...Pattisson stepped back as chief executive in May to focus on his role as a portfolio manager. Meanwhile, Paul Synnott, head of operations, left in April after a decade with the company....
...A group of employees has alleged that the moves may have breached employment law and they are exploring whether to mount a legal challenge....
...“There may be circumstances where, because of the success of that business, because of the family’s experience of operating within a geographic environment, their network and connections, there may be very...
...Assets at Majedie’s Tortoise fund plummeted from £712mn in May to £10mn in August after its two managers left....
...Those changes have dented trusts’ appeal to investors and prompted warnings that the sector may disappear without government or regulatory action....
...More than a fifth of shareholders voted against the remuneration report in the group’s annual meeting in May, which awarded outgoing chief executive Andrew Croft £3.1mn and chief financial officer Craig...
...Della Valle said in May that the group “must change” as investors and analysts scrutinise its presence in other European markets, particularly Germany....
...Venetia Jackson, a lawyer at Pinsent Masons, said the announcement was “a significant move from the FCA to ensure compensation is available to customers who may otherwise be left with proving their claims...
...“Selling properties under such pressure may lead to the fund manager selling them for less than their actual market value, potentially resulting in financial losses for the fund and its investors.”...
...Reporting by Martha Muir, Joshua Oliver, Emma Agyemang, Laura Hughes, Rafe Uddin, Sally Hickey and John Aglionby...
...GAM’s shareholders turned down the Liontrust deal, with only about 33.5 per cent of the Swiss asset manager’s investors voting for the transaction, announced in May....
...The rises have been in response to soaring inflation, which was 7.9 per cent in June and has exceeded the Bank of England’s 2 per cent target since May 2021....
...Some 33.5 per cent of GAM shareholders voted for the deal, which was launched in May and included a £17.8mn loan to GAM, half of which has already been drawn down....
...Liontrust offered in May to buy the whole of GAM in a deal worth £96mn. It has extended its deadline twice and made clear it does not intend to raise the offer....
...Time is running out before Liontrust’s twice-extended August 4 deadline to seal the deal it outlined in May....
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