A Midlands financial advice firm has had its credit licence revoked after a series of hearings by regulatory bodies.CF Consulting of Berry Dale, Northampton was found to be a risk to consumers. The firm is run by husband and wife team of Riaz and Shomaila Ali. It specialises in financial and corporate advice to businesses in the Midlands. The firm lost round one of the battle after a hearing before the Office of Fair Trading. At the public hearing in May, it was revealed that Mr Ali was an undischarged bankrupt and both partners had provided incomplete information on a variety of occasions in relation to licence applications. CF Consulting went to appeal and a special independent panel hear, the case. The panel has confirmed the OFT ruling. It ruled that CF Consulting had, through non-disclosure, breached section 7 of the Consumer Credit Act 1974. It also said Mr Ali had failed to co-operate with the Official Receiver in the bankruptcy proceedings and was still an undischarged bankrupt. The panel found the business was a serious risk to consumers and unfit to hold a licence. The firm could still appeal to the High Court on points of law.
Scottish Equitable is extending its post A-day pension range with the launch of a group Sipp from July 24.The group Sipp is an extension of its group personal pension plan, allowing clients to choose the self-investment function as and when appropriate. Although Scot Eq believes group Sipp will become more mainstream it says the majority […]
The home information pack regime has been left in disarray after a dramatic U-turn this week which has seen home condition reports axed. The Department for Communities and Local Government says HCRs will not be compulsory when Hips are launched next June. The move has raised question marks over whether the scheme will be watered […]
Bubbles can be described as situations where the price of an asset exceeds its actual value. When these assumptions are realised to be unattainable, the market suddenly falls back. Mini bubbles occur everyday in capital markets. The bubbles we are talking about here are far more menacing, involving a level of mispricing that could undermine a whole economy and cause enormous loss of wealth.
Midas income and growth trust has outperformed its benchmark by 2.6 per cent since Midas Capital was appointed investment manager last August.
Call us old fashioned, but we want to get to know you personally. That’s why we give you a named case manager and underwriter to look after all your cases from start to finish. Your underwriter will happily give you their number, so you can ring them directly with any questions you have. And your […]
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The Government should make it easier for advisers to sell products that blend income drawdown with insurance to meet future care costs, according to former pensions minister Steve Webb. A paper published today by Royal London calls on the Government to introduce policy changes which allow new products to be created that pay for long-term […]
Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]