The ABI is commissioning further research into indem-nity commission, claiming the debate has not moved on following the recommendations made by Charles River Associates earlier this year.Deloitte has been brought in to devise possible alternatives for the commission structure after the ABI consultation launched alongside the CRA research. ABI life and pensions director Chris Kenny says the action is not being instigated to stave off any regulatory intervention but claims it will benefit providers and advisers if intermediaries can build more resilient financial models reliant on recurring rather than up-front income streams. Deloitte is expected to de-liver its analysis by the end of the year and the ABI will formulate the next stage of its work on the issue by Easter. Kenny says: “Respondents in our consultation process all mentioned indemnity commission but did not come out with any detailed models.”
Cheshire Building Society
Buy-To-Let Two Year Fixed
Fund of funds and research house, Forsyth Partners has added to its UK team with the appointment of Sophie Huang as research analyst.Huang has been working as an independent consultant for the past two years after a prior seven year stint at UBS where she covered alternative investments.Forsyth has also poached Vanessa Heywood from Aberdeen […]
A Sidcup mortgage broker has lost his appeal against a decision by the Office for Fair Trading to revoke his consumer credit licence. Stewart Williams, trading as S&J Consultants, was convicted in July 2000 on several offences, including dishonesty and obtaining business money transfers by deception.
Clare Bettelley analyses the growing business of mortgage securitisation and what can happen when things go wrong
The head of Artemis’ US team explains why he is holding cyclical stocks (like semi-conductors) while also investing in growth (videogame producers, Amazon).
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]