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Complaint data must be revealed

The FSA is to force firms to publish their own complaint data every six months where 500 or more complaints have been received during the period.

It estimates that 200 firms will need to publish figures, which will account for 95 per cent of all complaints. The FSA says this will enable consumers to see how firms handle complaints, including the number received and how quickly they are resolved.

The information will be broken down into five product areas, including banking, home finance, general insurance and pure protection, life and pen- sions and investments.

The plans will cost the industry an initial 600,000, plus 300,000 in annual costs.


Lloyds completes intermediary review

Lloyds Banking Group has appointed Peter Curran as head of intermediaries for the group. It has completed a restructure of its intermediary proposition, with Phil Rickards as head of BM Solutions, Kevin Purvey as head of both Cheltenham & Gloucester and Scottish Widows and Ian Wilson heading Halifax for Intermediaries.

Turner questions complexity

At the FSA’s financial capability conference in Cambridge, Lord Turner said “radical questions” need to be asked such as can there be too much innovation in some markets and are some products too complex to be sold to consumers at all.

Boosting our annuity strategies

Targeting annuity purchase in lifestyle strategies isn’t anything new but we’ve just lifted the bonnet and injected an enhancement shot into the end-point of these solutions. The recent volatility has shot short-term volatility into equity markets and painted a very turbulent backdrop but we’re also equally faced with a stressed fixed interest environment. This can […]


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