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Consumers&#39 Association calls for inquiry into with-profits

The Consumers&#39 Association is calling on the Treasury to set up an independent public inquiry into the with-profits industry.

In a report entitled &#39Profits at the consumer&#39s expense&#39 the Consumers&#39 Association criticises with-profits funds as being over-complicated, poorly regulated and lacking in transparency.

The Consumers&#39 Association does not believe the review of with-profits funds announced by the FSA is sufficient to address all the issues. The report says: “One of the issues to be addressed is the FSA&#39s own role in relation to Equitable Life and the Axa orphan assets proposals. The regulator would be in part investigating itself.”


Autif names new director general

Autif is appointing Richard Saunders as director general, replacing Philip Warland. Saunders will take up the post on May 1. Current director of legal and fiscal affairs Sheila Nicoll is promoted to the new post of deputy director general. Nicoll will also be acting director general until Saunders takes up the post. Saunders has been […]

Henderson offers initial charge discount

Henderson Global Investors is offering a 1 per cent discount on the initial charge on its European Capital Growth Fund. The fund is an Oeic and is available in an Isa wrapper and as a Pep transfer. The minimum lump sum is £1,000 or £2,000 through an Isa. Henderson UK retail head Simon Ellis says: […]

Scottish Life within range of retirement solutions

Scottish Life has designed retirement solutions, a range of pension products that give employers the chance to give their employees a choice of a group personal pension, a group stakeholder plan or an occupational money purchase scheme. Retirement solutions is aimed at both large and small companies and allows employers to tailor pension arrangements to […]

Halifax buys Equitable

Halifax has agreed to buy Equitable Life for £1bn, in a deal which could see guaranteed annuity rate policyholders trading their guarantees for upfront bonuses. Halifax will pay £500m for Equitable&#39s asset management business, administration systems and salesforce. Halifax will then pay £250m into the Equitable with-profits fund if the holders of guaranteed annuity rate […]

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Thinking of expanding overseas?

Whether you’re a small company or an established larger employer, expanding overseas into emerging markets can be an extremely attractive prospect for growing your business. However, with this comes a duty-of-care requirement to any staff based overseas.


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