View more on these topics

CII warns of misbuying

The CII has warned of the dangers of misbuying from the Sandler review proposals. It says the new simplified regime should not bring a dilution in the standards of consumer protection. CII director general Dr Sandy Scott says: “Action is needed to help bridge the annual savings gap of £27bn and we support moves to make investments more simple and transparent. However, whoever is responsible for the sale of these simple products must be suitably qualified and be able to demonstrate and maintain, the relevant level of competance.” The CII says it has already recognised the need for a more stringent investment qualification for financial advisers.

Recommended

Sandler recommendations could damage customers

Ron Sandler&#39s recommendations run the danger of being achieved at the expense of consumer protection says the Financial Services Consumer Panel.It says removing the obligation to provide “suitable advice” and “know their customer” could potentially lead to future misselling scandals. The Panel points out that misselling in the past of personal pensions, mortgage endowments and […]

Sandler: provider response

SkandiaThe cost of redesigning products and administration will be considerable and contrary to the objective of simplifying the sales process, with consumers ultimately bearing the costs. Scottish WidowsProtection should be added to the stakeholder suite of three products but a price cap will lead to market distortions. Norwich Union LifeWe have the size and scale […]

IFA investment knowledge to be increased

Financial advisers will have to beef up their investment knowledge following Sandler&#39s recommendations, with the review team concluding IFAs are lacking in this area.The report does not go into specifics in this matter, with Sandler saying details will be up to the FSA to sort out. He says the FSA&#39s current examination of the review […]

CA welcomes Sandler&#39s call for reform

CA welcomes Sandler&#39s call for reform of finance industry but calls on FSA and Government to act Consumers&#39 Association (CA) has today welcomed the Sandler review, which nails the industry line that it serves the consumer interest. The report offers a blueprint for the industry, focusing on consumer needs.Sandler has confirmed CA&#39s assessment of poor […]

Inheritance Tax, a tax on the wealthy? Urban myth or fact?

By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment