@peter_IFAMAG reads Twitter so you don’t have to.
An independent review into Connaught, a collective investment scheme that lost investors £100m, is almost complete. Meanwhile, the National Crime agency starts an investigation into bank signature forgery claims.
Monzo launches premium account with a new card.
“Metal card holders will now effectively carry around a small piece of gold in their wallets.” Happy to be the only person online today who finds owning a bank card worth £50 terrifying versus thrilling 😬 https://t.co/J1PmeV01b3
— Isabel Woodford (@i_woodford) October 20, 2020
The premium card launch received mixed reviews.
I think the issue for me with the Monzo premium accounts is it feels like another bank account, with very similar features
When it should feel like Superhuman or Grammarly for banking
And maybe I'm missing something, but it it has more of an edge it's not playing to it
— Simon Taylor (@sytaylor) October 20, 2020
Also in the challenger bank sphere; the N26 works council elections will take place next month. The council has had a rocky existence so far.
Both election dates have been announced. N26 Operations Works Council Election will be on 9-10 November, and N26 GmbH votes on the 30th of November and the 1st of December.
— Works Council @ N26 (@worker291) October 19, 2020
The UK ranked 15th among 39 countries assessed on sustainability, adequacy and coverage of their pension system.
NEW: The UK has ranked 15th in a league table of 39 countries assessed on the sustainability, adequacy and coverage of their #pension systems. Chile, Canada, Finland and Israel ranked higher on the Mercer CFA Institute Global Pension Index. The Netherlands topped the rankings.
— Josephine Cumbo (@JosephineCumbo) October 19, 2020
Regulatory failings review on Connaught Income fund is nearly complete.
Regulatory failings review on collapse of Connaught Income fund led by Parker is complete & Parties have received redacted report, have till today to respond. Calls for compensation could arise from the reviews on Capita or review of #LCF. @jameshurleyhttps://t.co/5AaVNr1wZT
— Martin Hague (@MartinWHague) October 20, 2020
The collapse of the fund cost investors £100m.
An independent review into alleged regulatory failings surrounding the collapse of a fund that lost investors more than £100 million is almost complete.
The investigation into FCA’s handling of the demise of Connaught is concluded bar final checks . . https://t.co/kdMvFgA1Cx— LCF Bondholders (@LCFBondholders) October 20, 2020
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