View more on these topics

CII won’t give compensation after exam papers are lost

The Chartered Insurance Institute is refusing to compensate advisers whose exam papers were lost last month although it acknowledges that some may lose earnings as a result.

Around 300 papers went missing from a Birmingham test centre on October 17 and failed to turn up by the CII’s November 11 deadline.

The CII promises to refund advisers and allow them to resit the exams on November 30. Advisers who cannot make that date will have to wait until January or April.

The tests sat on October 17 included a range of basic FPC exams enabling advisers to give advice on pensions and investments in the run up to A-Day.

But the CII, which is making an insurance claim against the courier which lost the papers, says it will not compensate advisers for loss of earnings.

The blunder could not come at a more embarrassing time for the CII, which announced its new exam framework to accompany the launch of chartered status earlier this week.

Group public affairs director John Ellis says: “The potential loss of earnings is the reason why we have set up a new resit date later this month. There is nothing more we can do to put this right.”

Hallmark-IFA managing director David Holbrook says: “They need to pull out all the stops to make more dates available and mark the papers more quickly.”

Recommended

Lloyds is pondering merger of Swip with Belgian bank Fortis

Lloyds TSB is reported to be mulling over a merger of Swip and Belgian bank Fortis’s asset management business which would create an investment giant with 155bn under management. Rumours have been rife in the industry following share price moves this weekend that Lloyds might spin Swip off into a joint venture with Fortis’ 68bn […]

Isa investors get risk appetite

Unconstrained, non-benchmarked investment trusts appealed to retail investors in the third-quarter, according to the Alliance Trust Savings Select Isa rankings. Caledonia investment trust was the top choice for the three months to October, moving up from third place in the second quarter and knocking the British Empire securities & general trust off the top spot. […]

Slice of the action

There are many ways in which a financial adviser can consider constructing an investment portfolio. It is by no means my intention to recommend preferred strategies, nor to comprehensively describe any one or more concepts in any great detail.

Finding value in UK equities

By Mark Martin, Investment Director & Head of UK Equities Register for a live update on 9 July at 14.30 with Mark Martin, who will be discussing Chancellor George Osborne’s ‘emergency’ summer budget, the UK equity landscape post May’s General Election and his outlook for the second half of 2015. Mark will also highlight the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com