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Autif and the ABI give cautious welcome to regulatory change

The Association of British Insurers and the Association of Unit Trust Investment Funds have cautiously welcomed the FSA&#39s proposed changes to regulation.

The ABI says it has to look at the FSA&#39s plans in more detail to ensure they meet the objectives of giving people as much access to advice as possible, create a structure consumers understand and help close the savings gap.

ABI spokesman Malcolm Tarling says: “We are not against change but we will want to ensure any changes improve choice and consumer understanding.”

Autif says it welcomes the FSA&#39s recognition of the need to clarify the cost of advice as distinct from the product and for consumers to understand what type of advice they are paying for.

Autif head of communications Clare Arber says: “We welcome recognition of the points we raised in our response to Sandler. We have never taken sides in the polarisation debate.”


Chelsea enters buy-to-let for students

Chelsea Building Society is targeting landlords looking to let to students with the launch of a new buy-to-let mortgage. The product has the same charges as the Society&#39s existing buy-to-let product, equally its SVR plus 0.25 per cent, currently 5.94 per cent.It benefits from a 0.75 per cent discount for the first 12 months, hence […]

IFAs urged to emphasise the benefits of advice to women

Men are more likely to seek financial advice than women so IFAs should put greater emphasis on targeting women, according to a new survey from Sun Bank.It found that men are 50 per cent more likely to visit an IFA when sorting out their finances whereas women are more likely to go straight to their […]

Cap Gemini warns of recreating system flaws

A consultant at the heart of the FSA&#39s polarisation rev-iew has hit out at the pla-nned regime, saying it could have significant adv-erse impact on both consumers and the industry.Cap Gemini Ernst & Young vice-president Shaun Crawford says the proposals are in danger of recreating many of the present flaws in the system and there […]


Are life office cuts in with-profits bonus rates justified?“I think they probably are. The bonus rates have got to reflect the overall performance so I would have expected them to be lower.” Gordon Walker, Sole trader “Yes. With the investment returns we have seen in the last few years, I do not see how they […]


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