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Aifa launches working group to look at FSA distribution review

Aifa has launched a working group to draw up the trade body’s response to the FSA’s review of retail distribution.
Aifa director general Chris Cummings says members should not underestimate the importance of the review and the recommendations it could make.
Former Tenet Group chairman Barry Kayes will chair the group.
Cummings says: “It is essential that our response proves not only the value of independent financial advice but also provides robust arguments on transparency, adviser remuneration and capital, and tackles, head on, the tangible steps we will take to address the reputation issues of the financial services industry.”


Treasury backs forced annuities

The Treasury has stressed its allegiance to forced annuitisation and says alternatively secured pensions should never become a mainstream product.In a letter to IFA Hargreaves Lansdown, the Treasury says: “The Government did not introduce Asps to provide a means by which a small and wealthy minority could avoid annuitisation and use pension funds to pass […]

Halifax moves to end retention confusion

Halifax has moved to stop confusion over its retention products after two Personal Touch brokers claimed it does not offer the same deals to new and existing customers.The lender insists it does offer the same deals for all clients as long as they stay within a particular product range.It has different product ranges for first-time […]


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