View more on these topics

Clarke vow to review the scope of the FSA

Conservative leadership candidate Ken Clarke has vowed to review the scope

of the FSA within two years if he is elected leader, as part of the party&#39s

policy towards financial services.

The former Chancellor has committed himself to splitting the roles of

chief executive and chairman following the term of Howard Davies and

conducting a wider ranging review of the regulator as a whole if the Tories

win power.

Speaking to a national newspaper, Clarke said: “I am not wildly

enthusiastic about having one monster Financial Services Authority which

could so easily acquire a culture of its own which could become

anti-entrepreneurial and anti-business.”

The candidate in the leadership race, the results of which are due to be

announced on September 12, is the first of the two rivals to speak out

about financial services matters. A spokesman for Clarke says the FSA is

one of a number of issues to be flagged up for review if he becomes leader.

FSA spokesman Patrick Humphris says: “Lots of protections have been built

into the legislation behind the FSA to make sure we do not abuse our

powers.”

Recommended

What about IFAs&#39 human rights?

I write to express my gratitude to Towry Law, knowing that they have savedIFAs so much money by reducing our potential liability to the ICS. Nevertheless, it begs the question, given the unlimited liability we areunder – are these present arrangements an infringement of our [IFAs] humanrights”, for the following reasons. First, as a separate […]

IFAs warned as Welsh reveal LTC proposals

IFAs must be wary when advising clients on their long-term care insuranceneeds because of the differences in funding plans in the UK, providers havewarned. The warning comes after the Welsh Assembly said it plans to join Scotlandand Northern Ireland in splitting from Westminster over funding for care. The Welsh plans, which will not come into […]

Stack holder

As the busy house-hunting season begins, those in the mortgage marketexpect a hectic time. But this year, lending growth has at record levels.Mortgage business is booming and should provide great opportunities forlenders and introducers. So why does this season bring groans from the IFA community who view thisas not much money for too much hassle? […]

Annuity Bureau calls for rule changes

The Annuity Bureau is calling for new legislation to forceinvestment-linked annuity providers to allow transfers from one provider toanother to provide a lifeline to annuitants locked into poor-performingfunds. The specialist IFA is arguing for the change in light of the poordeal Equitable Life annuitants receive and also for policyholders optingfor riskier investment-linked annuity products.

Tech winners keep on winning

By Ali Unwin, chief technology officer & fund manager, Neptune Artificial intelligence, driverless cars, big data. As technological advancements – and disruption – increasingly dominate headlines, Ali Unwin sets out six key themes he is watching in 2017. Read more Important Information Investment risks Neptune funds may have a high historic volatility rating and past performance […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment