View more on these topics

ABI steps up indemnity commission debate

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.”

Recommended

Forsyth Partners adds to UK investment team

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 […]

OFT revokes broker credit licence

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.

Default lines

Clare Bettelley analyses the growing business of mortgage securitisation and what can happen when things go wrong

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment