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A busy year for the industry regulator comes to an end

The FSA was very busy this year putting its stamp on the world it will inherit come the mythical date, N2.

Before it even got its feet off the ground, the regulator was busy shooting from the hip commissioning rep orts and making recommendations that could fundamentally change the IFAs&#39 world.

After the now infamous London Economics report was published in July, the FSA followed it with a recommendation to scrap polarisation, and then scurried around trying to justify its decision.

Just when we thought it was safe to come out of the water they come after us again. Despite all the coherent argument put forward in favour of polarisation there was a distinct lack of coherent argument put the other way.

While it was busy with IFAs, the FSA was sitting on its hands as one of the UK&#39s oldest life offices was forced to close its doors to new business.

Ironically this non-action could have been the greatest benefit to IFAs, as the Equi table Life was always public enemy number one when it came to poaching IFA business.


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The year of the millennium was hardly a landmark for mortgages. After a flurry of product innovation in preceding years nothing really new appeared during 2000. The flexible mortgage continued its march towards market dominance but Standard Life Bank did not repeat their major market success of 1999. It didn&#39t take the others very long […]

Rights of passage

Over the last few weeks we have been talking about the various ways in which a claim may be made against a spouse&#39s accrued pension rights in divorce settlements. What we have not yet done, however, is examine the chances that such claims might succeed. It is not automatic that a claim must or even […]

IFAs give polarisation overwhelming backing

IFAs have overwhelmingly given their backing to the current polarisation regime, acc ording to a survey by IFA the Lighthouse Group. Its research found that 98 per cent of IFAs believe the Government&#39s plans to relax polarisation will cause confusion and clients will not rec eive appropriate advice. The survey questioned 160 IFAs in England […]

Close Plays FTSE

Close Plays FTSEClose Fund Management FTSE Euro eTX FundType: Oeic.Aim: Growth by tracking the FTSE eTX Euro 50 index.Minimum investment: Monthly £100, lump sum £1,000.Investment split: 35 per cent computer services, 34 per cent computer software, 11 per cent semi-conductors, 8 per cent internet, 6 per cent telecommunications equipment, 4 per cent computer hardware, 2 […]


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