Tribunal backs £2m FSA fine for hedgies August 15, 2011 THE UK’s tribunal system has upheld the Financial Services Authority (FSA) decision to ban two hedge fund executives and fine them a total of £2.1m for market abuse and deceiving investors. Michiel Weiger Visser, who was chief executive of Mercurius Capital Management at the time of the abuses, was handed a £2m penalty for breaching [...]
MPs launch finance education group January 30, 2011 THE first all-party political group (APPG) in support of financial education for young people will be launched today, with more than 100 MPs expected to pledge their support for financial education to be on the UK curriculum. The group, set up by Conservative MP Justin Tomlinson and launched with the Personal Finance Education Group and [...]
MPs launch finance education group January 30, 2011 THE first all-party political group (APPG) in support of financial education for young people will be launched today, with more than 100 MPs expected to pledge their support for financial education to be on the UK curriculum. The group, set up by Conservative MP Justin Tomlinson and launched with the Personal Finance Education Group and [...]
Money Dashboard launches in UK January 18, 2011 A new online personal finance service will be launched today to provide simple budgeting and financial planning tools for consumers struggling to keep track of their money. Visitors to the website www.moneydashboard.com will have access to tools that can aggregate information from bank accounts, store cards and credit cards in one place, helping people keep [...]
PERSONAL FINANCE NEWS April 29, 2010 STATE-OWNED MORTGAGE LENDERS FAIL TO SATISFY State-owned mortgage providers are trailing behind smaller lenders and building societies for customer satisfaction, says a new survey from Which? Money. Bank of Scotland – part of Lloyds Banking Group – had the lowest score; just 41 per cent of customers were satisfied with the provider. Halifax (44 per [...]
Learning skills for business in school January 24, 2011 TO FURTHER its ongoing financial education initiative, the Institute of Chartered Accountants is launching a national business game in schools across the country. Nearly 250 schools have signed up to the Business, Accounting and Skills Education competition, which challenges 16 to18 year olds to play chartered accountant and produce business plans for fictional companies. “Building [...]
Matrix slashes broking arm in jobs bloodbath July 20, 2011 THE City’s jobs bloodbath is threatening to decimate staff levels at smaller corporate finance firms this summer, industry sources warned yesterday. Finance house Matrix Group placed most of its 93-person investment banking team under review with a view to retrenching them as it struggles to cover its costs. Only its investment trusts, real estate and [...]
Matrix slashes broking arm in jobs bloodbath July 20, 2011 THE City’s jobs bloodbath is threatening to decimate staff levels at smaller corporate finance firms this summer, industry sources warned yesterday. Finance house Matrix Group placed most of its 93-person investment banking team under review with a view to retrenching them as it struggles to cover its costs. Only its investment trusts, real estate and [...]
A Playboy queen in chef’s whites November 8, 2011 IMAGINE, for a moment, the head chef at a Playboy Club. Whatever image just sprang to your mind, I am fairly certain it is not Judy Joo. A Korean-American former Wall Street banker (she was a sales-trader on the fixed income floor of Morgan Stanley; her husband works for a hedge fund in London), Joo [...]
Merging national insurance with income tax will boost transparency and cut costs October 20, 2011 NEXT month George Osborne will deliver his Autumn Statement, and it will have to be a good one. With the economy stalled and high unemployment, he needs a credible plan for economic growth. The credibility of the fiscal adjustment is on the line. Spending cuts are right and necessary but they are only one part [...]