The bounce back in prices during August means that the average price of a typical UK property is now £160,224, only slightly lower than 12 months ago.

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Another Article A common misconception is that this is an IT issue and best left solely to the technical departments to resolve. In fact, most companies find that this is a multi-discipline exercise best co-ordinated by a risk and compliance function who can then co-ordinate any IT requirements and engagement; governance for policy writing or [...]

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Another ArticleAn investigation is currently being carried out at Positive Solutions into an alleged fraud by one of its advisers. A spokesperson for Aegon, which owns Positive Solutions, confirmed there was currently an internal investigation underway into the conduct of an adviser employed by the nationwide IFA firm. She said: “There is an investigation underway [...]

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Another ArticleAccording to Mark Hoban MP, shadow financial secretary to the Treasury, the FSA has failed to perform both its function as custodian of financial markets and in its duty to safeguard the interests of consumers. He said: “That is why we think it [the FSA] should be scrapped, with responsibility for regulating IFAs and [...]

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Another ArticleIncreasing your risk management functions is pointless if they do not address the risks. Overlap as well as gaps in reporting or monitoring seem present in many organisations despite increased spend in risk management teams. A cohesive and robust framework is required if the system is to work across all elements. In the recent [...]

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Another ArticlePaul Tebbutt, who was chief executive of Millfield Partnership, has joined the new IFA consolidation firm Succession, run by Simon Chamberlain. The FSA fined Mr Tebbutt £35,000  in 2006 for providing misleading information about the firm’s application to merge with Inter-Alliance. Millfield itself was delisted from the AIM market and went into administration in June [...]

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Bad reporting by UK Small Firms:
Only one in three firms had submitted accurate data.
One in three Directors were assessed as having a poor understanding of financial reporting or an over-reliance on external consultants.
Where FSA assessed firms as having misreported, either in error or to mislead, half of these were subsequently found to have undeclared financial resources deficits and are currently subject to further supervisory action by FSA.

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