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Showing posts from November, 2017

Inflation

United Kingdom Inflation Rate 1989-2015  Consumer prices in the United Kingdom rose by 3 percent in the year to September 2017, as widely expected, following a 2.9 percent gain in the previous month. It was the highest inflation rate since April 2012, mainly due to rising prices of food, transport and leisure activities. The annual core inflation rate, which excludes prices of energy, food, alcohol and tobacco, stood at 2.7 percent, unchanged from the previous month's five-year high and in line with market consensus. Inflation Rate in the United Kingdom averaged 2.58 percent from 1989 until 2017, reaching an all time high of 8.50 percent in April of 1991 and a record low of -0.10 percent in April of 2015.

Consumer prices index (CPI) is the government's preferred measure of inflation. It is used for international comparison and the government inflation target for the Bank of England Monetary Policy Committee. It is available as an index from January 1997, with estimates back t…

So, what is a Legal Entity Identifier (LEI)?

The Markets in Financial Instruments Directive II (MiFID II) comes into force next year, with one of its key objectives being market transparency. This will see a new section added to the FCA Handbook which refers to the requirement to make transaction reports to the FCA with regards to certain financial instruments. These reports have to be completed for all clients and, where the client is not a natural person (i.e. an individual), it will need confirmation of their Legal Entity Identifier (LEI).
An LEI is a unique identifier for a client which is a legal entity or structure.
Which clients need a Legal Entity Identifier (LEI)? Most commonly clients of an advice firm, these will include:
Companies (public and private)Charities Trusts (but not bare trusts)  A natural person (including sole traders and partnerships) does not require a LEI as their national insurance number will identify their involvement in the purchase of a financial instrument.
What types of financial instruments need…

Good News for State Pensioners

As many of you will be aware in the UK, due to the current financial climate inflation has been steadily increasing over the last 12-24 months putting pressure on the Bank of England to increase interest rates. It is still unclear as to whether this will be the case (although it is looking increasingly likely). However, what we do know is, due to current inflation levels and the generous triple-lock State Pension guarantee, those in receipt of their State Pension will see a 3% increase from April 2018.