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Cascade of consultation

Following on from the “year of the consultation paper”, there are many loose ends to be tied up this year.

Product disclosure proposals seem to ack nowledge that consumers get too much to read but what will replace them? Still more words but FSA-badged?

The shape of the successor regime to polarisation is to be decided. We do not yet know the details of what will be in comparative price tables, although I cannot see them being a substitute for advice whatever happens.

I am also pleased to hear from several IFAs that monitoring teams appear to have had a much more constructive approach to their task in recent months and are actually looking to resolve not create problems. The FSA management should be focusing on continuing with this transformation.

So this year we should see some tying up of loose ends, more indications of whether risk-based regulation actually reduces the burdens on businesses and regulatory intrusiveness and undoubtedly even more consultation documents.


US rate cut boosts UK markets

Equity markets have responded well to yesterday&#39s surprise half point cut in US interest rates. Technology, media and telecoms sectors pushed the FTSE 100 up more than 155 points in the first 10 minutes of trading today. US chairman of the Federal Reserve Alan Greenspan made the rate cut ahead of the scheduled meeting of […]

Same product, different name

The UK pension market is about to change substantially. Indeed, I am fairly sure we are about to witness a genuine structural change in both the focus of the market and the nature of products. People have made such predictions before, I know, most notably in the mid to late 1980s with the coming of […]

Woolwich buy to seizes on increase in private renting

Woolwich has introduced a five-year fixed rate buy to let mortgage to capitalise on the steady increase in private renting. Private renting has been growing since the 1990s as a result of changes in working patterns, particularly as contract working has become more popular. The mortgage is fixed at 7.29 per cent until April 1, […]

Legal & General – High Income Trust

Thursday, 4th January 2001.Aim: Income by investing in corporate bonds.Minimum investment: Lump sum £1,000, Isa lump sum £500, monthly £30.Investment split: 100 per cent in corporate bonds.Yield: 8 per cent.Isa link: Yes.Pep transfers: No.Charges: Annual 1 per cent.Special offer: For Isa investments, if funds are still invested as at December 31, 2001, annual management fees […]


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