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Call for FSA probe into structured products

Conservative Treasury select committee member Philip Dunne says the FSA should look at how structured products were advertised to ensure guarantees were clearly explained.

Speaking to Money Marketing at the Conservative Party conference in Birmingham, Dunne says a guarantee was only as good as the guarantor and warned that to some extent this is a commercial decision for the person buying a product.

But he adds: “The FSA might like to take a look at the nature of the guarantees provided and whether they were clear.

“If you advertise a guaranteed return, then, to a degree, it is caveat emptor and partly the question would be whether these were held by retail inv-estors or more sophisticated investors.”

Dunne says he fears there may have been bad practice in the self-certification sector of the mortgage market.

He says: “I suspect there has been some pretty loose practice undertaken and I think that is something worth having a look at.”


UK moves to protect Icesave accounts

The British Government has stepped in to protect Icesave deposits held by UK savers with estimates that around 300,000 people had accounts with the UK operation of Icelandic bank Landsbanki.

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Do you believe that personal accounts will launch on time despite current market turmoil?No 75%Yes 25%No “Hopefully not. It is a rubbish idea and with current conditions it will be even worse. “Andrew Martin, Key BenefitsYes “There may be some tweaking in terms of the mechanics of the investments but I can’t see them abandoning […]

IHT: What were you doing in 2009?

One of the best sources of new business is your existing clients and, if they are estate planning clients, regular reviews are needed because people’s inheritance tax (IHT) problems tend to only get worse. Now, not a lot of things remain at the same rate as in 2009. If we turn the clock back, it […]


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