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&#39Sandler against DP and 1% caps&#39

Ron Sandler is believed to oppose the FSA&#39s definedpayment system and 1 per cent caps on products, according to industry sources.

Several industry figures expect Sandler to add his voice to the chorus against DP when he publishes his report, expected in June.

It is also thought he may decide to criticise the 1 per cent stakeholder cap, which could signal an end to the spread of price-capped products.

Sandler is believed to view DP and the cap as reducing consumer access to products and widening the savings gap.

His criticism of with-profits products is expected to include demands for greater transparency and ringfencing of the funds themselves.

Simpsons of Brighton partner Andrew Merricks says: “If Sandler is against the DP system, the FSA has got to listen. If the Consumers&#39 Association, Lloyds TSB and Fidelity have shown flaws in the system, let alone IFAs, it has to go.”


Nationwide says housing market &#39not overheated&#39 despite record price rises

House prices are rising at a record rate, with the average home now costing £100,473 – £14,000 more than last year – according to the latest house price index from Nationwide.House prices went up by 3.4 per cent in April, says Nationwide. The annual increase is 16.5 per cent.However, the building society says the market […]

Revenue says no charge for switch to New Star fund

The Inland Revenue is allowing investors in Rathbone&#39s special situations fund to switch without charge to Patrick Evershed&#39s new select opportunities fund at rival New Star.In a move the firms believe is unique, the Revenue is permitting Rathbone unitholders to keep their investment with manager Evershed – who recently left the company to join New […]

Newton acquires Henderson subsidiary

Mellon subsidiary Newton has acquired Henderson Private Asset Management for an undisclosed sum.The deal, which both companies expect to complete in August, will raise Newton&#39s private client and charities funds under management by 25 per cent to around £5bn from £4bn.HPAM manages around £930m of funds on a discretionary basis for 1,000 high net-worth clients, […]

Regulator&#39s consultant says cost analysis is the big chance for IFAs

The FSA&#39s cost-benefit analysis is IFAs&#39 big chance to have an influence on the outcome of the review of polarisation, says the consultancy which compiled CP121.Charles River Associates principal Tim Wilsdon told the Money Marketing G80 summit the IFA sector should bombard the FSA with details of the cost to their businesses of implementing the […]


What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.


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