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Can you bend the rules by being big?’

I question the validity of the regulator’s threshold conditions when hundreds of small IFAs endure significant personal inconvenience to meet the capital adequacy require-ments at all times, yet the industry’s biggest organi-sations continue to trade unabated and inadequate.

I question an enforcement system that judges its penalty on the ability of the culprit to endure it.

I am certain the FSA has its reasons for allowing firms to trade out of their position (consumer protection perhaps), when faced with extolling the virtues of compliant business to small IFAs, I question what message the regulator is presenting? That it is OK to bend the rules, if you are big enough?

Tim Grey

Compliance services manager

SimplyBiz Services



Millfield loses star duo to Tenet’s IFA

Millfield Partnership has lost its two top-performing advisers to newly established Tenet IFA Foster Denovo. Tenet claims that the two teams led by Paul Clarke and Darren Laverty were the top- producing Millfield IFAs in 2004 and 2005, with both achieving a turnover of over 1m in each year. Both are on target for generating […]

It’s a family affair

Running a family business can raise other recruitment challenges

Gareth Marr steps down as ceo of Origen

Gareth Marr is stepping down as chief executive of Origen with immediate effect.Having successfully recovered from cancer last year Marr says he is reviewing his personal priorities and as such will be unable to fulfil his role of ceo.Marr was instrumental in the creation and development of Origen which brought together five Aegon-owned IFA firms […]

Widows to put direct clients back in S2P

Scottish Widows is the latest life office to contract direct customers back into the state second pension automatically unless they choose otherwise. Widows has written to around 7,500 direct customers telling them that it will contract them back into S2P by the end of January unless they object. This follows similar moves by Prudential and […]

Seeking quality in uncertain markets

By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article


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