Search found 26 matches

by swynn
September 1st, 2017, 1:39 pm
Forum: Banking Sector
Topic: FCA RBS report leaked
Replies: 2
Views: 1136

Re: FCA RBS report leaked

I have made a FoI request to see the report. I suspect when I do see it, the FCA "summary" will turn out to be more of a loose interpretation. It is absurd for it remain unpublished. So we have to make do with summaries and articles about it.
by swynn
June 5th, 2017, 10:20 am
Forum: Food
Topic: Blessed are the cheesemakers.
Replies: 33
Views: 2463

Re: Blessed are the cheesemakers.

"Penicillium molds are found in Blue cheese. Penicillium camemberti and Penicillium roqueforti are the molds on Camembert, Brie, Roquefort, and many other cheeses."
by swynn
April 27th, 2017, 1:26 pm
Forum: Pensions - Practical Problems
Topic: Bemused
Replies: 10
Views: 1168

Re: Bemused

The topic of transaction costs is a nightmare which the government is offloading onto busy IGCs, trustees, employers and members.

https://www.fca.org.uk/publication/disc ... p15-02.pdf
by swynn
April 26th, 2017, 8:52 am
Forum: Pensions - Practical Problems
Topic: Bemused
Replies: 10
Views: 1168

Re: Bemused

The link in my last post was to DP 15/2.
by swynn
April 25th, 2017, 7:18 pm
Forum: Pensions - Practical Problems
Topic: Bemused
Replies: 10
Views: 1168

Re: Bemused

This issue of the disclosure of transaction costs seems to be a nightmare: Reading: https://www.fca.org.uk/publication/consultation/cp16-30.pdf There are 22 "questions". But most "questions" contain more than one question mark. So there are really 22 issues and 55 questions., Tra...
by swynn
April 24th, 2017, 9:55 am
Forum: Pensions - Practical Problems
Topic: Bemused
Replies: 10
Views: 1168

Re: Bemused

If the slippage cost is high this will indicate that there is excessive trading. If funds had to hold their investments for a minimum period, there would be no excessive trading, so no need to calculate slippage. I suggest two years for unit trusts and oeics and three for pension funds.
by swynn
April 23rd, 2017, 1:42 pm
Forum: Pensions - Practical Problems
Topic: Bemused
Replies: 10
Views: 1168

Re: Bemused

As I pointed out on the dash for cash thread, there is an obvious solution to the problem of transaction costs. That is to require funds to hold their investments for a minimum time such as two years. This a cost-benefit situation. The benefit in reduction of transaction costs because of reduced tra...
by swynn
April 23rd, 2017, 11:36 am
Forum: Pensions - Practical Problems
Topic: Bemused
Replies: 10
Views: 1168

Re: Bemused

The link does not seem to work. This is to CP 16/30 Transaction cost disclosure in workplace pensions.
by swynn
April 23rd, 2017, 11:14 am
Forum: Pensions - Practical Problems
Topic: Bemused
Replies: 10
Views: 1168

Bemused

People tend to be bemused about pensions. They are going to be even more bemused by being given information about transaction costs, such as "slippage cost" explained in: ttps://www.fca.org.uk/publication/consultation/cp16-30.pdf DP 15/2 says: "the Pensions Act 2014 places a duty on t...
by swynn
February 8th, 2017, 6:14 pm
Forum: Investment Trusts and Unit Trusts
Topic: Insurance Funds
Replies: 4
Views: 770

Re: Insurance Funds

Wanting to be wised-up about insurance funds, I did a word search on "insurance fund" and "insurance funds" in the Asset Management Market Study: https://www.fca.org.uk/publication/market-studies/ms15-2-2-interim-report.pdf and came up with 0 (zero). Oh dear! This "study&quo...
by swynn
February 8th, 2017, 10:23 am
Forum: Investment Trusts and Unit Trusts
Topic: Insurance Funds
Replies: 4
Views: 770

Insurance Funds

My aunt said she was invested in unit trusts. But on looking at her investments a large proportion were insurance funds. She seemed to have started with all unit trusts, then her advisor slipped in insurance funds masquerading as unit trusts. One insurance fund even had the same name as a unit trust...
by swynn
January 15th, 2017, 4:48 pm
Forum: Oil & Gas & Energy (Sector & Companies)
Topic: Aker BP
Replies: 0
Views: 312

Aker BP

I bought some Det Norske - now called Aker BP - following a tip on TMF. They have done well. Any thoughts about this company will be helpful. Should I top up?
by swynn
January 15th, 2017, 10:59 am
Forum: Banking Sector
Topic: Collusion
Replies: 3
Views: 1006

Re: Collusion

I have posted on Catastrophe Corner about the dash for cash scandal, closely related to IRHP mis-selling. I hope this is a suitable topic for the Catastrophe Corner.
by swynn
January 13th, 2017, 10:46 am
Forum: Banking Sector
Topic: Collusion
Replies: 3
Views: 1006

Collusion

The FCA has been colluding with banks to rip-off SMEs by: permitting IRHP mis-selling, not investigating complaints and not investigating when "RBS (small business loans)" was debated in Parliament on 10 March 2010, excluding "sophisticated customers" from the Redress Scheme, kee...
by swynn
January 12th, 2017, 9:41 am
Forum: Investment Trusts and Unit Trusts
Topic: Competition between asset managers
Replies: 15
Views: 1902

Re: Competition between asset managers

"which is doing no more than stating the bleedin' obvious"

Not so bleedin' obvious to the DWP, otherwise the funds of DC workplace pensions would be passively managed.
by swynn
January 9th, 2017, 9:30 am
Forum: Banking Sector
Topic: RBS Myth
Replies: 0
Views: 731

RBS Myth

Myth:: "RBS GRG was only converted into a 'profit centre' after the 2008 crash." "Crucially, the skilled person review commissioned by the FCA into GRGs activities only considers the period 2008-2014, so victims including Nigel Henderson, Stuart McCredie, Kenny Riddoch and Rod Coffey ...
by swynn
December 24th, 2016, 5:27 pm
Forum: Banking Sector
Topic: Who is protecting who?
Replies: 2
Views: 915

Re: Who is protecting who?

The LOBO loans and RBS / GRG Redress Scheme are more recent bank scandals than IRHP.

https://spandaviablog.com/2016/11/17/rb ... idiculous/
by swynn
December 24th, 2016, 11:47 am
Forum: Banking Sector
Topic: Who is protecting who?
Replies: 2
Views: 915

Who is protecting who?

The government is being run for the benefit of the banks, rather than the benefit of the public. An example is IRHP mis-selling. This was permitted by the government, followed by a "voluntary" redress scheme which favors the banks: http://www.ianfraser.org/fantastic-amazing-a-triumph-the-b...
by swynn
December 13th, 2016, 11:29 am
Forum: Investment Trusts and Unit Trusts
Topic: Competition between asset managers
Replies: 15
Views: 1902

Re: Competition between asset managers

You say "low cost passive funds provide better returns than more expensive managed funds". i agree. But a problem seems to be that some funds claiming to be "low cost passive funds" are actually a con. The low cost comes from low portfolio turnover, PTR values. But the highest PT...
by swynn
December 12th, 2016, 6:14 pm
Forum: Investment Trusts and Unit Trusts
Topic: Competition between asset managers
Replies: 15
Views: 1902

Re: Competition between asset managers

The Complaints Commissioner decision has been published:

http://fscc.gov.uk/wp-content/uploads/F ... -11-16.pdf

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