10 November 2011
The RDR will change IFA/provider relations for good, says Peter Craddock.
Alan Lakey says the FSA has seen fit to lay waste to the IFA sector.
Peter Le Beau says input is needed from politicians to encourage take up of CI cover.
The state of Aifa’s finances clearly highlights the predicament facing director general Stephen Gay.
Nic Cicutti says it appears that Aifa’s message post-2012 is to open the doors to anyone as the money will come in handy.
MM will be holding the FSA to its word on monitoring progress towards 2013.
Tony Byrne says that hidden charges are still rife across the financial services industry.
The protection market is being undermined by dodgy pop-up distributors.
Intermediary Mortgage Lenders Association directors say the eurozone crisis is very different to the credit crisis of 2007 and should not lead to a similar contraction in mortgage lending.
PruProtect has apologised after it repeatedly contacted an IFA’s client directly to sell them whole of life cover.
Ardevora has dropped the equity label on its £14.6m UK equity income fund after investors confused it with the firm’s £2m UK equity fund.
Federation of Small Businesses says auto-enrolment will impose significant start-up costs on small businesses.
Barclays Bank is to launch its first residential mortgage-backed securitisation since May 2007.
Bestinvest has launched 14 risk-rated managed portfolios as part of its new advisory offering.
Brokers are urging 14,000 BoI customers affected by sale of its £1.1bn loanbook to look to remortgage with a different lender.
The “mythology” that the Government and regulators have allowed to develop came under attack at last week’s Imla executive briefing
The Department for Work and Pensions has ruled out a TV ad campaign to raise awareness of automatic enrolment.
The FSA has criticised the industry for using what it says are lengthy and complex key features illustrations which confuse consumers.
Regulatory experts suggest the FSA still has a fight on its hands to ensure it can ban all advisers from receiving commission.
Treasury financial secretary Mark Hoban has defended the FCA’s objectives, despite pressure from MPs and the FSA to change them.
Hoban says current terms of £20bn loan are “no longer appropriate”.
IFA firms will move “overwhelmingly” towards restricted advice within three years of the implementation of RDR, according to an independent consultant
Legal & General has accused the Government of ageism after ministers tabled concessions to public sector pension reforms that protect everyone over the age of 50.
TSC member Andrea Leadsom questions why their are no women at the helm of the FSA.
Treasury financial secretary Mark Hoban has written to the MAS over concerns it may drop its work on financial education for young people.
Eden Financial’s head of asset management wants to create a multi-strategy fund business based on boutique values.
Deal expected to close within next few months.
The first-time buyer higher loan-to-value market should be considered a niche area, according to Northern Rock head of intermediary sales Richard Tugwell.
Jupiter income manager Tony Nutt believes inflation could reach 8% in the UK by 2015.
Treausry holds firm despite DWP move to reclassify the arrangements as defined benefits.
The company initially thought that up to 10,000 customers could have been affected by the failure.
SimplyBiz joint managing director Neil Stevens says it is “unacceptable” that the FSA has not yet clarified how it will treat legacy commission after the RDR.
FSA chairman Adair Turner and Treasury financial secretary Mark Hoban have called for the publication of the board minutes of the FCA.
The Intermediary Mortgage Lenders Association says the lack of a joined-up approach on housing policy between Government departments and the FSA must be addressed.
Consumer bodies have called for increased Parliamentary accountability for the Financial Conduct Authority.
The world has moved on since the FSA started its mortgage market review and the proposals may not meet the needs of today’s market, according to Imla executive director Peter Williams.