The Secret Fees In Pensions

Secret pension fees that cost billions are exposed | The Times Transparent Pensions, Please | The Times Front page article and leader from today’s Times.  FX is, of course, one of the execution costs that nobody measures.    ...

Quis Custodiet ipsos custodes?

https://www.pensionplaypen.com/top-thinking/show/256/quis-custodiet-ipsos-custodes.html#.UwSLv_l_uSo An interesting piece reflecting on the fines imposed on State Street following the issues in their transition management business.  In our view any form of trading...

On fiduciary responsibility and foreign exchange.

We’ve been looking at fiduciary responsibility, and found this line courtesy of Lord Millett in the case of Bristol & West Building Society vs Mothew: ‘A fiduciary is someone who has undertaken to act for and on behalf of another in a particular...

FX Fraud as bad as LIBOR.

http://www.ft.com/cms/s/0/6d2f697a-8da8-11e3-bbe7-00144feab7de.html?siteedition=uk#axzz2sRkAgTUa Please find on this link an article in which the head of the FCA, Martin Wheatley, describes the FX fixing scandal as as the LIBOR scandal. We feel that this is the tip of...