The FSA has appointed two new members to the Financial Services Consumer Panel. Citizens Advice generalist adviser Carol Stewart joined the panel June 1 and Mail on Sunday journalist Tony Hetherington joins January 1 2005. FSA chairman Callum McCarthy welcomed the two new members and said the panel will continue to act as a strong, independent consumer voice.
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Lenders unsure of electronic reporting requirements
Lenders are unsure of what they will be asked to do to comply with electronic reporting requirements according to Focus Solutions. Focus' s latest survey shows that 88 per cent of lenders feel their organisations are ready for mortgage regulation but when it came to mandatory electronic reporting 58 per cent of the respondents thought […]
ABI says rise not generous enough
The ABI says the Government has not been generous enough in raising the price cap to 1.5 per cent though it describes the move as a step in the right direction. ABI director general Mary Francis says: “The decision is a step in the right direction. The Government has recognised that the one per cent […]
Bank of England warns of property crash
Bank of England governor Mervyn King has warned Britons buying a home to be wary of a possible housing market crash. Speaking to the Scottish CBI King said the rise in house prices over the past five years had taken the ratio of house prices to earnings to new record levels, unsustainable in the long-term. […]
MPs told that shock rise in rates is needed to stop property spiral
Leading economist Roger Bootle has told MPs that the Bank of England monetary policy committee needs to shock housebuyers by raising interest rates. Speaking at the Treasury select committee meeting last week, three of the UK's leading housing market economists expressed concerns about the impact on the economy of a collapse in the housing market. […]
Bond market review and outlook – Q3 2016
Loomis Sayles’ Macro Analyst, Craig Burelle, discusses the key takeaways for bond markets during Q3 2016 and looks at the outlook for global growth and inflation. Click here
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FCA updates guidance on ‘basic advice’ under Mifid II
Advisers will not be able to give ‘basic advice’ on stakeholder products that fall under Mifid II and the Insurance Distribution Directive, the FCA has confirmed. Basic advice rules, which date back to 2005 and allow the provision of simpler and lower-cost advice to consumers on a range of stakeholder products using pre-scripted questions, previously […]
ABI chief: Brexit deal is taking too long
The director general of the Association of British Insurers has told MPs that a post-Brexit deal is taking too long to form. Giving evidence to parliament’s committee on exiting the EU yesterday, Huw Evans said that “the thinking about what a future relationship would look like with our European partners is not where it needs to be” […]
The future for alternatives: Can esoteric investments win over advisers?
Adviser attitudes towards alternative investments have changed considerably in recent years, but the market remains divided on how they should be used. What was once seen as a niche market has now become far more prevalent and investors are increasingly looking towards alternative investments as a way of diversifying their portfolios and generating returns in […]
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