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Davies slams PIA

FSA chairman Howard Davies has slated the PIA as being intrusive and oppressive on the day the new regulatory regime comes into existence.

In an article in a national newspaper today, Davies criticised the old regime as pleasing no-one and being the least satisfactory part of the FSA&#39s inheritance.

Davies said: “It is thought by the provider firms to be costly and ineffective, is felt by intermediaries to be intrusive and oppressive, and is considered by consumers to be toothless and inadequate. There is no doubt in our minds now that major reforms are needed in a number of areas.”


Product matters

Platform Home Loans&#39 light-averse offering has all the features one would expect in such a mortgage but is probably most suited to discharged bankrupts or borrowers who have been subject to an individual voluntary agreement, since they will least likely be able to obtain a mortgage from a mainstream lender.Many lenders are more willing to […]

Baronworth takes dual bond approach

Baronworth Investment Services is going for the twin-track approach with the introduction of the Baronworth combination investment series four.Investors have a choice where to invest. Their money can be placed in the three-year guaranteed income bond from Pinnacle Insurance, which offers a fixed rate of 5.75 per cent for three years with the original capital […]

Pink Home Loans ties up with online term platform

Pink Home Loans is linking up with LifeQuote to offer mortgage intermediaries access to term assurance online.LifeQuote offers term assurance from products from providers including Friends Provident, L&G, Norwich Union, Scottish Provident and Standard Life.Pink Home Loans sales and marketing manager David Copland says: “We are always striving to improve the range of products and […]

Bankhall owner Lynx in talks on takeover

Lynx, owner of the UK&#39s second-biggest IFA grouping, Bankhall, has confirmed that it is in talks with a possible buyer.The company, which is valued at £178m, confirmed last week that it had entered into exclusive discussions which may lead to its sale at 120p per share.Speculation is now rife about possible suitors for the company, […]


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