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Credit Suisse axes multi charges

Credit Suisse is removing the initial charge on lump-sum investments into its multi-manager funds until the end of April.

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Code comfort on PPI

There is a short answer to Julian Stevens’ letter about the misselling of payment protection insurance. Before January 2005, the ordinary law of negligence and, for product providers, misrepresentation and non-disclosure applied. For General Insurance Standards Council members, the GISC rules applied. The Private Customers Code 3.2 and 3.3 would have covered this. Adam Samuel […]

‘TCF in danger of adding too much red tape’

Any positive benefits resulting from the move towards principles-based regulation could be cancelled out by industry guidance and firms’ own compliance procedures brought in to support the treating customers fairly initiative, warns the Better Regulation Commission.BRC chairman Rick Haythornthwaite says he supports the FSA’s focus on principles-based regulation and the drastic reduction of the sourcebook […]

M&G will not hedge bets on cautious fund

M&G says the exclusion of commodities and hedge funds from its new cautious managed multiasset fund will not undermine the diversification benefits of its investment approach.David Jane, who will manage the fettered fund of funds, believes that investment in gold is risky because returns depend on its spot price at any given moment while fixed […]

Personal account hybrids slammed

The DWP has floated the idea of the private sector developing hybrid top-up policies to run alongside personal accounts.Speaking at a Social Market Foundation event in London last week, DWP chief economist Robert Laslett responded to concerns that low personal account contributions will become the norm by sugges-ting the private sector could construct savings vehicles […]

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