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&#39Consumer education beats rules&#39

Consumer education will accomplish more than any rules or regulations will in terms of consumer protection according to FSA chairman Howard Davies in a speech this week.

Speaking at the regulator&#39s third annual education conference in London, Davies said educating today&#39s youth and promoting financial literacy among adults are the keys moving forward.

Davies said: “Ultimately, a long-term program of cultivating awareness and understanding among consumers will achieve more consumer protection than any rules or regulations can ever hope to."


Losses hit £272m at ZFS

Zurich Financial Services UK parent Zurich Financial Services Group has posted a £272m net loss for last year and pledged to cut dividends by more than 50 per cent. ZFS, which issued a profits warning in December, says the events of September 11 and increased charges for exposure such as asbestos are to blame for […]

Sarasin&#39s in good health

Sarasin has introduced the Sarasin global health fund, an Oeic that aims to produce capital growth by investing in global healthcare and medical developments.The fund will look at three sectors: pharmaceuticals, biotechnology and medical technology. It will select stocks within these areas according to themes, such as the technological innovation and the prevention and cure […]

ScotEq International&#39s business suffers amid Revenue challenge

Scottish Equitable Inter-national saw a sharp business decline in 2001 in a year which was beset with difficulties for the firm.Single-premium income fell by 37 per cent to £203m from £320m in 2000.Luxemburg-based SEI had planned to launch a with-profits bond from a new office in Dublin this year but has put it on hold […]

Charcol says fixed and discounted mortgage will help first-time buyers

Charcol is offering an exclusive one-year fixed-rate mortgage which switches to a stepped discount for the remaining term of the loan.Funded by West Bromwich Building Society, the loan is fixed at 4.49 per cent for the first year before reverting to a discount of 0.75 per cent on the lender&#39s variable rate, currently 5.95 per […]


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