A Parliamentary early day motion which supports the Pensions, Protection & Investment Accreditation Board's Raising Standards initiative has gained the support of more than 80 MPs.
The EDM was tabled in November by Labour MP Paddy Tipping and commends the first five providers to be accredited by the scheme.
The EDM singles out CIS, one of the accredited companies, for praise after it pledged to exceed the minimum standards in the initiative.
CIS general manager (life and compliance) Mike Fairbairn says: “The strength of support from the House of Commons is an acknowledgement of the efforts that the industry is making to promote customer understanding.”
PPIAB chief executive John Cox says: “With 30 per cent of the industry by market share having gained accreditation and 80 per cent of the industry committed to doing so in the future, raising standards represents a determination to build consumer confidence.”
View more on these topicsNews
Mellon – Mellon Global Innovation Portfolio
Tuesday, January 8, 2002.Type: Ucits.Aim: Growth by investing in companies involved in technology,telecommunications, media and e-business worldwide.Minimum investment: Euro 5,000 or $5,000.Place of registration: Dublin.Investment split: 100 per cent in companies involved in technology,telecommunications, media and e-business worldwide.Isa link: No.Charges: Initial A shares up to 5 per cent, annual 2 per cent.Commission: Initial 3 per […]
Year of the stockpicker
The passing of 2001 has not been mourned by many in the investment world after global economies lumbered towards recession and markets crashed to a four-year low in September.After the second successive down-year, fund managers are crossing their fingers for 2002.There is plenty of optimism. Standard Life Investments believes equity markets will outperform bonds this […]
ScotProv urges independent windfall advice
Scottish Provident is sending letters to former members urging them to seek independent financial advice on how to invest windfall payouts totalling £1.8bn from the life office's demutualisation.ScotProv, which demutualised last August when it was acquired by Abbey Nat-ional, is contacting around 450,000 policyholders to notify them of their individual windfall payouts, which average £4,400.The […]
Mellon – Mellon Global Bond Portfolio
Tuesday, January 8, 2002.Type: Ucits.Aim: Income and growth by investing in international sovereign,government, agency, corporate, bank and asset-backed anddebt-related securities.Minimum investment: Euro 5,000 or $5,000.Place of registration: Dublin.Investment split: 100 per cent in international sovereign, government,agency, corporate, bank and asset-backed and debt-relatedsecurities.Isa link: No.Charges: A shares initial up to 5 per cent, annual 2 per […]
Who cares?
By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]
Newsletter
News and expert analysis straight to your inbox
Sign up
3
Ros Altmann: Without advice Lifetime Isa savers face clear risks
Since it was first proposed, it has been clear to many that the Lifetime Isa is unsafe to sell without advice. Significant dangers arise from the product’s complex design, absence of clear risk warnings, lack of suitability checks and asymmetry of information between customers and providers. The first evidence of such problems is appearing. Lisas […]
FCA slaps £27.6m fine on UBS over reporting failures
UBS has been fined £27.6m by the regulator after misreporting close to 136m transactions over a ten-year period. Between November 2007 and May 2017, the Switzerland-based bank failed to report a number transactions as required but also reported cases that did not require it. The FCA says UBS failed to provide complete information on 86.67m […]
