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Advisers to be examined on LTCI

New requirements for long-term care insurance come into effect on October 31 making all LTCI policies subject to FSA regulation. The new rules ensure an enhanced level of protection of all LTCI products including insurance-only pure protection and investment-based products. The changes include pre and post sale requirements, risk warnings and enhanced training and competence requirements for all LTCI advisers Existing advisers who are already deemed competent to advise on LTCI will have until October 2006 to pass the examination.


Multi-Manager View

The wisdom of taking bets on asset allocation is a frequent topic of conversation with financial advisers. We take the conservative view that the neutralisation of asset allocation risks is the most appropriate approach for our products and market. If a multi-manager is taking big bets on behalf of clients, there are three possible outcomes. […]

Money Portal sets up fund admin platform service

The Money Portal will launch a fund admin platform service designed to compete with the admin services of a major international bank. TMP has appointed three leading investment experts to run the business which provides distribution and admin services for fund management companies. It has recruited John Ellis from JP Morgan Fleming Asset Management as […]

FSA cuts mortgage firms&#39 FSCS levy by nearly half

Mortgage intermediaries&#39 contributions to the Financial Services Compensation Scheme will be almost half the amount originally proposed. When statutory mortgage regulation starts next week, mortgage intermediaries will be subject to FSA, Financial Ombudsman Service and FSCS fees, just as IFAs currently are. The FSA says the levy that the FSCS will take from mortgage intermediaries […]

Package deal

Some packagers will be falling outside the regulatory net after October 31. What regulatory risks are posed for lenders and intermediaries who use them? Webb: It is true that some packagers will be regulated by the FSA and some will not. Those which will not are ref-erred to as pure packagers. A pure packager is […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


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