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Arch cru shows why new thinking needed on FSCS

Editor’s comment of the week

Response to last week’s online editor’s view, Arch cru fallout highlights FSCS broken model

This highlights why Mark Hoban needs to put his thinking cap back on and sort out the mess that is the FSCS and its funding arrangements.

It is simply not good enough for him to say they have thought hard about FSCS funding but cannot think of a better solution. The Arch cru debacle is one in an increasingly long list of failures that have affected the adviser community disproportionately.

Not only are surviving firms having to shoulder more cost and responsibility, so are clients through increased costs of advice.

Dennis Hall


Lenders scrap plans for loan fraud unit

Lenders have scrapped plans to launch a specialist mortgage fraud unit within the City of London Police. Last year, the Council of Mortgage Lenders held talks with its members, the National Fraud Authority and the City of London Police about funding a unit with the aim of targeting mortgage fraudsters. But lenders have decided their […]


Queen’s Speech reveals deficit reduction, banking and pension reform

The Government will legislate on the structural reform of banks and reforming adult social care and make changes to state and public sector pensions, according to the legislative agenda set out in today’s Queen’s Speech. Speaking in the House of Lords this morning, the Queen said the Government’s’s first priority would be reducing the deficit […]

Public survey of MPs’ value for money

The body in charge of setting MPs’ salaries and pensions has launched a public consultation on whether MPs are giving the public value for money. The Independent Parliamentary Standards Authority has already introduced a pay freeze for MPs and a 1.85 per cent increase in their pension contributions for 2012/13. IPSA chair Sir Ian Kennedy […]

Royal London new business falls 10 per cent

Royal London’s new life and pensions business fell by 10 per cent for the first three months of the year. The firm’s results, published today, show life and pensions new business fell from £843m for the same period in 2011 to £761m, with the firm blaming volatile markets. Bright Grey and Scottish Provident new business […]

Leading Edge June – Investment panel debate

RLAM’s asset class specialists discuss some of the findings from the panel session at our recent Investment Conference. By Rob Williams, Head of Distribution Welcome to the latest edition of Leading Edge. It has been an eventful six months since the last e-zine. The European Central Bank announced ongoing stimulus measures, while the immigration crisis in Europe threw the […]


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