Good morning and welcome to your Morning Briefing for Friday 30 September 2022. To get this in your inbox every morning click here.
Fallout continues
The government’s difficulties from the mini-budget have continued on the eve of the Tory party conference.
Chancellor Kwasi Kwarteng has said the government will reverse the decision to axe the top 45p rate of income tax.
We wait to see if the government changes its mind on anything else it announced in the mini budget.
Case officers
The Financial Conduct Authority plans to increase its case officer headcount by 20 between 31 July and 31 December 2022.
This was revealed through a Freedom of Information (FOI) request submitted to the FCA by Money Marketing on 15 August 2021.
The regulator added that additional increases in case officer headcount for 2023 will be considered as part of routine business planning processes. This is to ensure the FCA can meet anticipated demand.
Vanguard expansion
US passive behemoth Vanguard is considering expanding its range of model portfolio solutions in the UK.
One solution would blend active and passive funds, while the other one would be a target-volatility solution.
They would come in addition to the LifeStrategy and the LifeTarget solutions.
Quote Of The Day
Pressure to change course is likely to persist and, with it, heightened volatility in domestic markets.
– Trevor Greetham, head of multi asset at Royal London Asset Management,comments on deteriorating UK…
