WASPI and Back to 60 campaigners lose their High court judicial review challenge to the government’s increase in the retirement age for women. No reversal and no compensation at least from the legal route.
The Daily Mail’s Jan Moir sums up the feelings of many women in this article saying their pensions have been stolen. Yet some advisers have been vocal in suggesting that the campaign had taken the wrong tack and was asking for unaffordable things. There are suggestions that campaigners should not have approached their case on the basis of discrimination.
Interesting that the shadow pensions minister Jack Dromey says that Labour will seek a solution. It could prove very expensive in financially straitened times.
There is speculation that the Bank of England governorship may go to Dame Helena Morrissey who has spent two and a half years managing the relaunch of Legal and General's direct to investor business but has now departed.
The arch Brexiter’s views may chime with the views of the current Prime Minister. Most think it is going to be quite the hot seat. Morrissey is, of course, a very big advocate of having more women in senior roles to the extent of launching funds which tilt towards stocks that do.
Whatever else such an appointment would mean interesting times at Threadneedle Street.
New Model Adviser written an analysis of a Numis report published in June, which is now being used by SJP in its marketing up against firms such as Brewin Dolphin and Quilter as it shows they are more expensive.
The administrators of the Berkeley Burke Sipp have dropped the appeal against a High Court decision backing the FOS finding of due diligence failings when the Sipp accepted high risk investments between 2010 and 2012. It had raised £100,000 from across the industry but this would not have been sufficent to meet legal costs.
Tenet has imposed a ten-day commission hiatus on its advisers in the midst of a move to Intelliflo’s Intelligent Office system.
It seems that some commission payments may be calculated as an average of previous payments. It sounds as if there are serious issues with the implementation and its compulsory nature. Some advisers had written to the firm demanding the changes be phased in.