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ABI standards still flying high

Following a very successful second anniversary event for Raising Standards, I was very disappointed to read the recent front-page report. There is no evidence that the FSA&#39s forthcoming consultation on information disclosure to customers will damage the Raising Standards scheme.

After all, the disclosure standards are only two of the eight that make up the scheme.

At the event, John Tiner made it clear that companies that are already Raising Standards accredited will find the transition to any new regime an easier process and that our work on plain language and other communication issues has rightly furthered the FSA&#39s thinking.

Raising Standards continues to influence the market both in terms of product design and the development of new standards. The scheme will continue to raise our sights right across the industry – as recognised by the FSA with-profits review, the Sandler report and the recent Pensions Green Paper. It would be unreasonable to suggest that the FSA would damage the scheme that is delivering so much for the consumer and has been so widely welcomed.

Phil Hodkinson

Chairman, Industry Standards Group, ABI


&#39Danger&#39 survey is slammed by IFAs

IFAs have criticised a report which claims that around a fifth of the IFA sector is in financial “danger”. Plimsoll Publishing&#39s survey claims to analyse 781 IFA firms, giving each a financial rating category of strong, good, mediocre, caution or danger, based on figures obtained from the UK registrar of companies. This has provoked an […]

Consultation on orphan assets set for summer

The FSA says it has undertaken preliminary work on the attribution of orphan assets and will consult on it in the summer. In CP176, the regulator says it is developing open processes for policyholders affected by the attribution of orphan assets. The move has come under fire from some critics, who say a transparent process […]

Buoyant year for societies

Gross mortgage advances by building societies totalled £35bn last year, up from £30bn in 2001, according the Building Societies&#39 Association. The BSA says its members had a bumper year, with net advances increasing to £10.8bn from £6.6bn in 2001. Approvals reached £39bn in 2002 compared with £29bn in 2001. Gross advances in December were £3.4bn, […]

Aberdeen shelves Fof plan

Aberdeen Asset Management has shelved the launch of its fund of funds operation, citing the economic environment for the delay. The multi-manager should have been running by the end of last year but has been put on hold, with Aberdeen admitting “everything is under review”. The decision throws into doubt the positions of Simon Nicholas […]

Sierra Leone cover image - thumbnail

White paper — Sierra Leone International Insights

Jelf Employee Benefits assesses the areas that employers should be aware of when considering operating in Sierra Leone, including healthcare access, delivery and insurance provisions. This report draws on various sources to highlight specific considerations for this emerging jewel in West Africa.


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