View more on these topics

&#39Treasury is pulling the strings&#39

IFAs and trade bodies say the FSA is buckling under to Treasury demands, with the plans to scrap polarisation set by the Government.

Others accuse the FSA board of overriding the views of its officials working on the review, including head of conduct of business David Severn, by ignoring his indications last October that polarisation was likely to stay and multi-ties were not a favoured option.

Those pointing to a split between the FSA board and officials refer to Severn&#39s comments last October that: “Abolition of polarisation makes for good headlines but we would have to replace it with more rules.” He also said: “We could go in for an option which saw more adoption of products in the tied sector. There must be a question over multi-ties.”

Informed Choice director Nick Bamford says: “This is a Government decision. The FSA had nothing to do with the document. It was told what to do by the Treasury and did not have the backbone to stand up to it.”

An industry commentator says: “It looks as if someone was pulling the strings and I suspect it was the Treasury working with Sandler.”


Leggmason Investors – UK Active Income Isa

Tuesday, January 15, 2002.Type: Unit trust based maxi Isa.Aim: Income and growth by investing in the UK income unit trust andmonthly income unit trust.Minimum investment: Lump sum UK income unit trust £1,000,monthly income unit trust £3,000.Maximum investment: £7,000.Catmarked: No.Investment choice: Client&#39s choice in UK income unit trust andmonthly income unit trust.Charges: Initial UK income unit […]

Home on the range

Schroders is giving access to a broad range of UK companies within its UK select Isa. The Isa will invest 50 per cent in the Schroder UK equity fund, 30 per cent in the Schroder UK mid-250 fund and 20 per cent in the Schroder UK smaller companies fund.The UK equity fund invests in big, […]

Genesis Home Loans 2-year fixed

Genesis Home Loans, fixed rate mortgageFixed term: 2 yearsFixed rate: 5.45%Minimum loan: £25,001Maximum loan: £250,000 – up to 90% LTVIncome multiples: 3.25 +1 , 2.75 x jointArrangement fee: £325Redemption fee: 6 months interest at SVR during fixed periodConditions: max 80% LTV first time buyersIntroducer&#39s fee: refer to packagerTel: 01832 275 044

Bricks and mortar boards loan from Chelsea

Chelsea Building Society is targeting its new buy-to-let loan at landlords looking to rent property to students.Previous buy-to-let products from the society excluded properties purchased as student accommodation.The student buy-to-let loan is based on the society&#39s standard variable rate plus 0.25 per cent, giving a current rate of 5.94 per cent. There is an additional […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm