@peter_IFAMAG reads Twitter so you don’t have to.
Disgruntled advisers handed annual regulatory bills as much as 60% larger than last years. Chris Giles updates the Bank of England’s CHAPS data, as UK retail sector sees ‘V-shaped recovery.’
Dennis Hall from Yellowtail Financial Planners was not best pleased about the increase to the FCA’s annual regulatory bill.
With the name Yellowtail I'm guessing we're one of the last firms to receive our annual @TheFCA regulatory bills. But despite some of the comments I've seen already I wasn't expecting a year-on-year hike of 48%! Surely an indication of just how unfit for purpose this regulator is
— Dennis Hall (@YellowtailFP) July 23, 2020
Nick Bamford saw a rise of 61.3%. He did well to censor his language.
Regulatory fee invoice received today. An increase of 61.3 % over last year. I bet the regulator continues to lecture us about the level of fees charged to clients. (some of the language I wanted to use in this tweet has been censored)
— Nick Bamford (@nickbamford) July 23, 2020
Sam Sloma saw his FCA fee increase of 100%. Check out the thread for further comment from IFAs.
Any other advisers get a 100% increase in their @TheFCA fee or just us????
— Sam Sloma (@samsloma1) July 23, 2020
Hannah Godfrey from Professional Adviser shares the sentiment. .
Chris Giles pieces together what he calls the Monetary Policy Committee’s new favourite chart.
The @bankofengland Monetary Policy Committee has a favourite chart at the moment….
…. it is a measure of real time spending from its own CHAPS payment system.
BoE won't (yet) publish the data daily for no good reason, but here it is in three Acts
1. Haldane "so far, so V" pic.twitter.com/nDL7hcV5bH
— Chris Giles (@ChrisGiles_) July 23, 2020
Retail recovers to pre-COVID levels, however, Jonathan Athow suggests uneven recovery.
Retail sales had a good June, growing around 14% compared to May, and we are almost back to the level we saw before the pandemic. (1/n) pic.twitter.com/CJrIr9Gidj
— Jonathan Athow (@jathers_ONS) July 24, 2020
And finally, I hope all those with Wirecard stock were keeping up to date on IFA Magazine’s coverage too.
Hedge fund manager Jim Chanos began shorting Wirecard after reading the FT's investigative pieces on the (now collapsed) German payments group last October. He made $100mhttps://t.co/sA24dVHpeu pic.twitter.com/T9wyKLJwY7
— Matthew Garrahan (@MattGarrahan) July 24, 2020
What are your thoughts on these tweets?
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