Investing according to Environmental, Social and Governance principles (ESG) has been a fast growth area, according to figures1, UK-based ESG funds saw record inflows between March and July 2020, with £362m invested in July alone. What is ESG? The acronym, ESG, refers to three key factors used by investment companies to evaluate corporate behaviour: Environmental criteria – such as: carbon emissions, waste management and air/water pollution Social criteria – such…
Read MoreFinancial Services Compensation Scheme
The Financial Services Compensation Scheme (FSCS) has extended its protection for savers amid concerns that the pandemic has increased the likelihood of financial firms failing. The fund currently protects deposits with UK banks, building societies and credit unions to the tune of £85,000 per person. However, there is additional protection for consumers who temporarily have high balances of up to £1M. Having such a large balance for a relatively short…
Read MoreFCA Bans Sales of Cryptocurrency Investments
The FCA has banned the sale of a swathe of cryptocurrency investments to retail investors in the UK. The FCA has published final rules banning the sale of derivatives and exchange traded notes (ETNs) that reference certain types of cryptoassets to retail consumers. They consider these products to be “ill-suited” for retail consumers due to the harm they pose. The regulator said these products cannot be reliably valued by retail…
Read MoreFraud goes viral
If it sounds too good to be true, it probably is. This is an old maxim, but remains a good one. UK fraud prevention groups are warning individuals to be extra vigilant following a huge increase in the number of scams seeking to exploit the pandemic; as these scams increase in sophistication, we are all vulnerable. Your best tactic is to equip yourself to stay ScamSmart; you can do this…
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