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Call for FSA to lighten regulation

The FSA should introduce lighter regulation on some products for life offices with Raising Standards accreditation or face the public abandoning the industry, says CIS.

General manager (life and compliance) Mike Fairbairn says the FSA should slacken rules on certain products and exempt accredited firms.

Without some form of cre-dit rating for firms based on the Raising Standards initiative, Fairbairn says a wedge could be driven between the industry and consumers. He says: “We need to gain the trust of the public or they will get satisfaction elsewhere.”

An FSA spokeswoman says: “We are looking at how we regulate insurance companies through the Tiner project to make our approach more ref-lective of the risk. Lower-risk companies are likely to come under less attention.”


ZAN chief jubilant at CP121

Zurich Advice Network distribution chief executive Keith Baldwin has crowed at a salesforce conference about depolarisation and a crisis of confidence among IFAs.In the company&#39s internal newsletter covering its January conference, Baldwin says: “The key point is the endless debate about independence versus tied is at long last redundant. The status of an adviser is […]

Outside edge

I have long argued the case for the full regulation of mortgage advice and prophesied this will lead to a significant consolidation within the world of mortgage distribution. Well now regulation is coming in full and we have the added bonus of the revised outlook for multi-ties.The obvious implication is that the industry will reform […]

88% want one set of designatory letters to end public&#39s confusion

IFAs are overwhelmingly in favour of introducing one set of designatory letters for the industry, according to the State of the IFA Nation poll ofMoney Marketing readers.The poll of IFAs, conducted in conjunction with Virgin One, shows that 88 per cent would like to see the regulator come up with one all-encompassing standard, which would […]

The war of independence

As the dust from the FSA&#39s recommendation that polarisation be scrapped settles, so the recriminations start. The leadership of field marshals – or even director generals – comes under close scrutiny as the IFAs&#39 D-day approaches.Given the pressure of the tight timetables under which the FSA is trying to rush fundamental market changes in, it […]

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(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


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