East London company that operated a wine investment scheme has been wound-up in the courts after it abused clients’ funds worth more than £1.9 million. From: The Insolvency Service Published12 April 2022 Global Wine Exchange Limited has been wound up in the public interest in the High Court on 22 March 2022 before Deputy Judge...Read More

By David Thorpe April 27 2022 For most of the decade after the financial crisis, advisers were presented with a dilemma. Until that point the role of government and other lower risk bonds in client portfolios was to balance the volatility of equities, while also providing an income. That was based on the notion that bond prices...Read More

By Michael Klimes 7th December 2021 8:24 am The Financial Conduct Authority will require firms to demonstrate how they meet client needs through a new Consumer Duty. It has published (7 December) a consultation and draft guidance to help firms prepare before the introduction of the new duty. The consultation is open until 15 February 2022 and the FCA expects to confirm any...Read More

By Jean-Baptiste Andrieux 21st January 2022 21st January 2022 The Financial Ombudsman Service (FOS) is currently dealing with 274 open cases concerning mini-bonds. This was revealed by a Freedom of Information request submitted by Money Marketing on 16 December 2021. Among these 274 open cases, 12 of them are related to Wellesley & Co Limited and...Read More