The cautionary tale of Carey Pensions
As Carey seeks another court appeal, the never-ending Sipp drama is becoming more painful than Brexit. When will it stop?
By Michael Klimes 15
Image credit: Shutterstock
There is no immediate resemblance between Brexit and an obscure court case involving a Sipp provider.
One is a national psychodrama that will define the direction of the country for generations. The other is a niche legal dispute that attracts the interest of oddball pension journalists: the Carey Pensions court case.
But take a closer look and unusual parallels start to emerge.
Initially, both are not given much attention, yet they snowball to become the main fixture in the news cycle. This draws passionate comment from individuals not directly involved in the matters at stake. The buzzword, whether it is Brexit or Carey, is a proxy for deep-seated grievances.
Landmark court ruling turns client losses back on Sipp provider
By Michael Klimes 1
st April 2021 12:36 pm
The Court of Appeal has overturned a landmark judgment, ruling that a Sipp provider was in fact responsible for their ex-client’s losses.
The judgment marks a watershed over how much responsibility a Sipp provider has to vet unregulated investments.
It also brings to a conclusion several years of legal wrangling between Russell Adams and his old Sipp provider Options UK Personal Pensions LLP.
Options, formerly known as Carey Pensions UK, was fighting to maintain a key judgment it won in May 2020 against its former client Adams.
FCA launches High Court action against DB transfer IFA
By Sonia Rach 9
th February 2021 1:54 pm
The FCA has launched civil proceedings in the High Court against the directors of collapsed IFA Estate Matters Financial after allegations it provided unsuitable defined benefit pension advice.
The FCA claims that EMF, which went in to liquidation in June 2020, has breached various requirements under the Financial Services Market Act 2000 by providing unsuitable DB pension transfer advice, which led consumers to exit their schemes when it was not in their best interests to do so.
As part of the proceedings, an interim injunction has been secured against directors Paul Steel and Jacqueline Foster, which freezes the assets of the pair, up to the value of £7m, pending a further hearing.
Global X ETFs Launches First Two UCITS ETFs in Europe
Asset Manager Brings Thematic Investing Expertise to European Market
LONDON, Dec. 18, 2020 (GLOBE NEWSWIRE) Global X ETFs, a global leader in thematic investing, today celebrates the launch of its first two European-listed UCITS ETFs. The firm, which announced its formal entrance to European markets on December 1, is launching the Global X Video Games & Esports UCITS ETF (HERU) and the Global X Telemedicine & Digital Health UCITS ETF (EDOC) on the London Stock Exchange.
Tracking the Solactive Video Games & Esports v2 Index, HERU provides investors with targeted exposure to the evolution of digital entertainment via video games & esports, which saw immense adoption amidst global stay-at-home efforts throughout 2020. The Fund includes companies involved in the development or publishing of video games, a sector which is expected to exceed $159B in revenue in 2020, making it larger than the movie industry and professional spo
GLOBAL X: Global X ETFs Launches First Two UCITS ETFs in Europe
Asset Manager Brings Thematic Investing Expertise to European Market
LONDON, Dec. 18, 2020its formal entrance to European markets on December 1, is launching the Global X Video Games & Esports UCITS ETF (HERU) and the Global X Telemedicine & Digital Health UCITS ETF (EDOC) on the London Stock Exchange.
Tracking the Solactive Video Games & Esports v2 Index, HERU provides investors with targeted exposure to the evolution of digital entertainment via video games & esports, which saw immense adoption amidst global stay-at-home efforts throughout 2020. The Fund includes companies involved in the development or publishing of video games, a sector which is expected to exceed $159B in revenue in 2020, making it larger than the movie industry and professional sports.