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Guilty parties

Amid the stream of bad news it warms Mole’s heart to hear a happy tale so he was pleased as punch to find that the folk at the Financial Services Authority didn’t miss out on the festivities at Christmas time.

It turns out the FSA’s 2,800 staff were treated to three Christmas parties at a cost of more than £200,000.

A spokesman for the regulator apparently said that the parties were necessary to maintain staff motivation after a tough year.

Mole agrees that 12 months of ignoring brokers battling with networks over fees and missing glaringly obvious mistakes by major players while coming down like a ton of bricks on the little guys must leave one a little tired and in need of a £200,000 p**s-up.

Heart-warming stuff indeed.



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Gloom and bust

Have you found yourself feeling a little blue of late? Not your usual cheery self? Well you’re not alone. A survey of 5,000 adults by TV channel Comedy Central has found that in better times the average Brit laughs six times a day but since the dreaded crunch hit this number has halved.

Marketwatch 20/04/2009

Swap rates fell for the first time in several weeks and three-month LIBOR has edged down to 1.53%.

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The future of active management is now

Fees under pressure. Regulatory moves against closet indexers. Rapid advances in financial technology. Shifting sentiment among investors. Such mounting challenges have led to widespread speculation about active management’s shrinking future. But a closer look inside intelligent portfolio construction today tells a story of expanding roles, added value, and innovative risk-adjusted, lower-cost solutions. Four investment experts […]


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