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Commissioner wants early CRB details

The FSA is to share Criminal Records Bureau checks with the Regulatory Decisions Committee at an earlier stage under a new protocol being drafted by the regulator.

The RDC hears appeals against enforcement, authorisation issues and supervisory decisions and reports to the FSA board.

The move was revealed in a letter from the Complaints Commissioner which was published last week.

The commissioner received a complaint against the FSA after an application to conduct regulated activity was turned down due to non-disclosure of criminal convictions.

The complainant referred the matter to the RDC, which ruled the non-disclosures were not deliberate and instructed the FSA to grant the authorisation.

Commissioner Sir Anthony Holland rejected the complaint but expressed concern that the FSA did not pass the relevant CRB information to the RDC until the day of the hearing.


Skandia UK increases profits by 56%

Skandia UK has announced pre-tax profits of £140m for the year ended December 31, an increase of 56 per cent compared to £90m in 2009, on an IFRS basis. Funds under management grew 20 per cent over the year to £33.9m, gross sales grew 46 per cent to £6bn and net sales grew 77 per […]

ABI should drop “total” from disability banner

The world of critical-illness insurance has been extremely busy lately with upgrades from Bupa, Legal & General, Bright Grey and more recently LV=. Additionally, the ABI has finally published the triennial statement of best practice, albeit some two years behind schedule. The ABI aims to apply a plain English understanding to the critical-illness wordings and […]


Aifa proposes professional advice FSCS sub-class

Aifa has put forward the idea of creating a professional advice sub-class as part of future reform of the Financial Services Compensation Scheme. Aifa and the British Insurance Brokers’ Association presented in the Houses of Parliament last night at an All Party Parliamentary Group on insurance and financial services evidence session on the FSCS. Aifa […]


Access points

Should the Government allow early access to pension funds to encourage greater take-up?

Scheme pays explained

By Fiona Hanrahan, senior product insight and technical support analyst We’ve received lots of queries on scheme pays and when it can be used. This article explains how it works and the conditions which apply. What is ‘scheme pays’? If an individual exceeds the annual allowance (AA) and an AA tax charge is due, they […]


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