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Matthew Wright: People don’t want to risk investing with a manager who will ‘puff away’
Video: Fulcrum head of distribution on the importance of asset managers gaining fund buyers’ trust in their internal governance
Asset managers have had to assure fund buyers over the soundness of their governance models during the pandemic to avoid worries over a repeat of high-profile fund blow-ups like Arch Cru and Keydata, says Fulcrum Asset Management partner and head of distribution Matthew Wright.
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MPs in pension scandal constituencies declare Financial Conduct Authority “unfit for purpose” Jim Armitage
MPs representing victims of pension mis-selling today accused the Financial Conduct Authority of being “not fit for purpose” over its failure to help consumers.
Nick Smith and Stephen Kinnock, MPs whose constituents saw their life savings damaged when rogue advisers persuaded them to transfer out of the British Steel Pension Scheme, declared the FCA was characterised by organisational drift and bureaucratic inertia.”
In a letter to new FCA chief Nikhil Rathi, they wrote: “Despite our multiple and ongoing attempts to prompt action, the FCA continues to be City facing and lacks sufficient vision to tackle the issues facing consumers.”