LibDem Shadow Chancellor Vincent Cable is to table a Parliamentary question asking why the FSA will not publish the full text of the correspondence between FSA chairman Callum McCarthy and Prime Minister Tony Blair.Cable says when Parlia- ment returns in October he will be looking to address this “deeply shocking” issue. Cable says it is in the public interest for the letter from Tony Blair to McCarthy to be published, and the non-disclosure shows ‘extraordinary arrogance’. He says this makes no sense as it paints the regulator in a worse light. The FSA refused a national newspaper freedom of information request to publish the letter in August claiming it would harm the open and uninhibited relationship between Prime Minister and regulator. Cable also addressed industry concerns about his plans for a network of free advisers. He says it is an ambitious concept that needs to be tested first to ensure advisers were willing to participate and to ensure that there was no chance of middle-class individuals who could afford to pay taking advantage of free advice. Cable says: “When Parliament gets back, I will be tabling a question on the subject. It is unbelievable behaviour from the FSA, showing extraordinary arrogance, and is utterly and completely counter-productive.”
IFAs who steer clear of healthcare cover are missing a decent chance to strengthen their offering and increase the lifetime value of their clients.
Arch Financial Planning managing director Arthur Childs predicts this will be a bumper year for VCTs as 40 per cent income tax relief is expected to end in April 2006. “This is one of a number of offers that I would expect to see oversubscribed. Matrix has a team of eight experienced managers specialising in […]
Standard Life is set to start legal proceedings against a former employee, with the firm alleging that there was an attempt to steal thousands of pounds from the firm. The company is alleging that the unnamed ex-staff member tried to move around 40,000 worth of commission into a personal account. It is understood that the […]
Identity theft is the major new crime of the decade. In just a few years, it has gone from being virtually unheard of to being a big issue which is seriously undermining many consumers’ attitude towards more efficient methods of working.
Interest rates are low. Bond yields, in some economies, are at negative levels. Simon Edelsten, manager of the Artemis Global Select fund, analyses which assets investors should now consider. Click here to view full article
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A majority of independent financial advisers think there should be a single rate of tax relief according to this week’s Money Marketing poll. More than 120 advisers took part in the poll with 77 in favour of a single rate of tax relief, 39 against and six undecided. Yellowtail Financial planning managing director Dennis Hall […]
The FCA has issued a warning over ‘commoditised’ defined benefit pension transfers running the risk of unsuitable advice. In a letter sent to advisers holding pension transfer permissions, the regulator reminds planners that a “key area” of its focus is on pension transfers, and that it will later this year be contacting all firms to […]
Problems look set to arise for pension schemes operating relief at source