Discussion
European Securities and Markets Authority says,
"MiFID II/MiFIR will apply from 3 January 2018.
"The protection of investors is strengthened through the introduction of new requirements on product governance and independent investment advice...."
Edit: See detail from Ginge R below
"MiFID II/MiFIR will apply from 3 January 2018.
"The protection of investors is strengthened through the introduction of new requirements on product governance and independent investment advice...."
Edit: See detail from Ginge R below
Edited by anonymous-user on Tuesday 6th February 11:59
Fiver a Day is mine. The website is currently down for one particular reason. MiFIDII requires me to have two separate and distinct trading entities for my propositions, and it's simple for me to do so. However, I am currently working with the members of the British Steel Pension Scheme who allege they have been fraudulently invested into Defined Contribution pension schemes from their DB scheme.
Consequently, I have decided to focus solely on one aspect only of that I am currently involved with and can control, rather than do more than one, badly. Fiver (as a website) could be up and running in two days if I so wished. But because it's an advised proposition, I cannot focus on new business as I would wish. It's just the 'window' - anyone investing still has access to their investments (which continue normally). MiFIDII prevents me with a solution to a problem that I would have had to address anyway, given my present workload.
Clients have my contact details and I remain available.. if a little distracted. Anyone so inclined to know about the story, will know that I'm working with the police, the regulator, the Ombudsman etc, to bring about a satisfactory conclusion for workers who have had in excess of £70m of funds handled in a way that will probably result in an unsatisfactory outcome. The tale even made the front page of this weekend's FT (Al Rush) and my ugly face has been on the telly quite a lot recently, too.
https://www.ft.com/content/46ef41b4-fba3-11e7-a492...
There is no need for concern if you are already invested, I'm just not taking on new clients for Fiver at the moment (and probably won't do for a few weeks yet (at least)). If anyone does have concerns, please don't hesitate to let me know by DM and I'll talk it through.
Edit: There might be a paywall on that, sorry.
Consequently, I have decided to focus solely on one aspect only of that I am currently involved with and can control, rather than do more than one, badly. Fiver (as a website) could be up and running in two days if I so wished. But because it's an advised proposition, I cannot focus on new business as I would wish. It's just the 'window' - anyone investing still has access to their investments (which continue normally). MiFIDII prevents me with a solution to a problem that I would have had to address anyway, given my present workload.
Clients have my contact details and I remain available.. if a little distracted. Anyone so inclined to know about the story, will know that I'm working with the police, the regulator, the Ombudsman etc, to bring about a satisfactory conclusion for workers who have had in excess of £70m of funds handled in a way that will probably result in an unsatisfactory outcome. The tale even made the front page of this weekend's FT (Al Rush) and my ugly face has been on the telly quite a lot recently, too.
https://www.ft.com/content/46ef41b4-fba3-11e7-a492...
There is no need for concern if you are already invested, I'm just not taking on new clients for Fiver at the moment (and probably won't do for a few weeks yet (at least)). If anyone does have concerns, please don't hesitate to let me know by DM and I'll talk it through.
Edit: There might be a paywall on that, sorry.
Edited by Ginge R on Sunday 21st January 14:01
TooLateForAName said:
Thanks for the heads up, much appreciated. Ginge R said:
Fiver a Day is mine. The website is currently down for one particular reason. MiFIDII requires me to have two separate and distinct trading entities for my propositions, and it's simple for me to do so. However, I am currently working with the members of the British Steel Pension Scheme who allege they have been fraudulently invested into Defined Contribution pension schemes from their DB scheme.
Consequently, I have decided to focus solely on one aspect only of that I am currently involved with and can control, rather than do more than one, badly. Fiver (as a website) could be up and running in two days if I so wished. But because it's an advised proposition, I cannot focus on new business as I would wish. It's just the 'window' - anyone investing still has access to their investments (which continue normally). MiFIDII prevents me with a solution to a problem that I would have had to address anyway, given my present workload.
Clients have my contact details and I remain available.. if a little distracted. Anyone so inclined to know about the story, will know that I'm working with the police, the regulator, the Ombudsman etc, to bring about a satisfactory conclusion for workers who have had in excess of £70m of funds handled in a way that will probably result in an unsatisfactory outcome. The tale even made the front page of this weekend's FT (Al Rush) and my ugly face has been on the telly quite a lot recently, too.
https://www.ft.com/content/46ef41b4-fba3-11e7-a492...
There is no need for concern if you are already invested, I'm just not taking on new clients for Fiver at the moment (and probably won't do for a few weeks yet (at least)). If anyone does have concerns, please don't hesitate to let me know by DM and I'll talk it through.
Edit: There might be a paywall on that, sorry.
Might it be better to put something to this effect on the fiver page? The current page could be quite offputting, whereas if you say that the you are sufficeintly busy that that you've stopped taking new business until things settle because you don't want to let service standards drop.Consequently, I have decided to focus solely on one aspect only of that I am currently involved with and can control, rather than do more than one, badly. Fiver (as a website) could be up and running in two days if I so wished. But because it's an advised proposition, I cannot focus on new business as I would wish. It's just the 'window' - anyone investing still has access to their investments (which continue normally). MiFIDII prevents me with a solution to a problem that I would have had to address anyway, given my present workload.
Clients have my contact details and I remain available.. if a little distracted. Anyone so inclined to know about the story, will know that I'm working with the police, the regulator, the Ombudsman etc, to bring about a satisfactory conclusion for workers who have had in excess of £70m of funds handled in a way that will probably result in an unsatisfactory outcome. The tale even made the front page of this weekend's FT (Al Rush) and my ugly face has been on the telly quite a lot recently, too.
https://www.ft.com/content/46ef41b4-fba3-11e7-a492...
There is no need for concern if you are already invested, I'm just not taking on new clients for Fiver at the moment (and probably won't do for a few weeks yet (at least)). If anyone does have concerns, please don't hesitate to let me know by DM and I'll talk it through.
Edit: There might be a paywall on that, sorry.
Edited by Ginge R on Sunday 21st January 14:01
I don't know how people in general would respond to that.
It's a valid, fair point - I normally urge clients to take a macro-perspective/the long view, yet here I am, nose far too close to the millstone. I hadn't imagined that the British Steel business would have continued to drag on as long as it has. I imagined it would have been done and dusted by December which would have given me time to do the other aspects required for MiFIDII. It drags on though, and I imagine it will do so for the foreseeable future.
I take onboard your point, thank you, and will arrange the amendments this week. Dry January has been at risk on more than a few occasions..
I take onboard your point, thank you, and will arrange the amendments this week. Dry January has been at risk on more than a few occasions..
Ginge R said:
It's a valid, fair point - I normally urge clients to take a macro-perspective/the long view, yet here I am, nose far too close to the millstone. I hadn't imagined that the British Steel business would have continued to drag on as long as it has. I imagined it would have been done and dusted by December which would have given me time to do the other aspects required for MiFIDII. It drags on though, and I imagine it will do so for the foreseeable future.
I take onboard your point, thank you, and will arrange the amendments this week. Dry January has been at risk on more than a few occasions..
Thank you for the replies and for what it's worth I would - simply because my first instinct was "Oh they've gone, something about regulations?" so I doubt I'd be the only one to think so I take onboard your point, thank you, and will arrange the amendments this week. Dry January has been at risk on more than a few occasions..
b
hstewie said:
hstewie said: Where have they gone? The similar robo's are all still there so not sure what's with the home page.
Still no change by the look of things.http://www.fiveraday.co.uk/
Gassing Station | Finance | Top of Page | What's New | My Stuff