View more on these topics

Broker Talkback

Will the appointment of Hector Sants as chief executive of the FSA make a difference to the regulator’s retail policy?

No 62.5%

Yes 37.5%

“Any change of leadership must result in a change of policy.”

Gavin Whippy, John F Whippy and Company


“I don’t know the chap well but I don’t think there will be any changes.”

Nick Teortiou, Westgate Financial Services


“They all seem to be rather egotistical and everything is moving towards the banks anyway so I don’t think things will change.”

Richard Brydon, Brydon Associates


“Sants will bring a different view to the FSA, having come from Credit Suisse. He has experience of being regulated and can bring that insight to the job. He is no civil servant.”

Tony Conner, Eldon Financial Planning


“The FSA already has firm views on retail markets and Sants has no particular experience of the retail market.”

David Brunning, Brunning Newman Houghton


“Unlike Tiner, who had an accountancy background, Sants has industry experience. He should be more in touch with retail markets and IFA practices. Other top dogs in the FSA have not so much as owned a corner shop.”

Raymond Davies, Wetherby Insurance Services


“The FSA has a history of over-regulating and trying to fix things that work perfectly well and that probably won’t change. It is an institutional problem. Changing the man at the top won’t necessarily help.”

Graham Carver, York Financial Management


“I really don’t know the personalities well enough but I hope so. I don’t think John Tiner was very understanding about the needs of the independent adviser.”

Trevor Rider, FMS Sevenoaks LLP


Providers to profit in pre-RDR sell-off

Ernst & Young is warning there could be a fire sale of highcommission products as providers seek to cash in before the RDR is implemented.In an assessment of the impact of the RDR, head of insurance services Shaun Crawford predicts greedy providers will try to boost last-minute sales using up-front commission.Crawford says providers will fall […]

Commercial crackdown?

There seems to be a looming question mark over the entire UK property market at the moment after several high-profile firms decided to move their vehicles from an offer to a bid basis in reaction to investors deciding it is time to get out.

General Electric quits US sub-prime

General Electric has left the US sub-prime mortgage market, selling subsidiary WMC Mortgage Securities. Staff numbers have fallen from 1,200 to 700 this year. US mortgage lender Alliance Bancorp has gone bankrupt after the sub-prime downturn.

MPC deputy governor Lomax voted against increasing July bank rate

MPC deputy governor responsible for monetary policy Rachel Lomax was one of three committee members to vote against increasing bank rate to 5.75 per cent this month.According to the minutes of the July meeting of the MPC, six members – including MPC governor Mervyn King and deputy governor John Gieve – voted in favour of […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm