The Corporation of Insurance & Financial Advisors has changed its name to the Corporation of Insurance, Financial & Mortgage Advisors. The trade association was initially formed in 1968 as the Corporation of Mortgage Brokers. The change was announced at its annual lunch last week.
The High Court has frozen the assets of IFA Malcolm Peter Millward of Calverton, Nottingham after proceedings were brought by the FSA.The injunction also forbids Millward from breaking the Banking Act 1987, and will remain in place until the final hearing of the case.The FSA alleges Millward between 1994 and this year accepted loans from […]
Skipton Building Society has paid £1.475m for a controlling interest in consumer finance lending company Amber Credit.It says it has bought Amber Credit to reduce its reliance on the housing market.Skipton chief executive John Goodfellow says: "The latest addition brings the total number of Skipton group subsidiary companies to eight and secures another route for […]
Glasgow Investment Managers Shires Income trust has posted a return on net assets of 8.5 per cent with a proposed final dividend of 5.4p in 12 months to March.This brings the total divident over 12 months to 17.5p. The assets now total £164m.
The Association of British Insurers has launched an initiative to answer IFA queries about the single currency.It has put together a factsheet entitled “Frequently asked questions for insurance intermediaries”.The factsheet is being sent to intermediaries via the IFA Association and other organisations. Bulk copies are available from the ABI at a price of £4.00 per […]
When he was Chancellor of the Exchequer, George Osborne made several changes to the way in which income is taxed. Personal allowances were increased significantly above the rate of inflation; a starting rate band was introduced for savings income and, with effect from 6 April 2015, this was assessed at 0 per cent. In addition, […]
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Consumer champion Martin Lewis has published a passionate warning about scam advertisements using his identity to endorse investment and insurance schemes. Lewis, founder of Money Saving Expert, has posted a video denouncing a cloud-based trading scheme that claims he invested £500,000 in it. He says in the video: “It is a con, it is a […]
The FCA cancelled the authorisations of more than 200 firms last year for failing to meet “basic regulatory requirements” like paying their fees or filling out regulatory returns. The regulator revealed the figure in an update today, that its Threshold Conditions Team took enforcement action against at least 207 firms for failing such compliance failings […]
Royal London chief executive Phil Loney has said that mandatory advice on drawdown could be a “potential solution” to problems in the market as he hits out at how providers treat non-advised clients. Speaking with Money Marketing, Loney said that the company was worried about how customers in the back books of long-established pension companies […]