View more on these topics

Davies warns that FSA could be left in limbo without legislation

The FSA has warned that it will struggle to operate unless the bill placing it on a statutory footing is in the Queen&#39s Speech next month.


The Financial Services and Markets Bill would free the FSA from their interim position and provide them with extensive powers to demand information, mount prosecutions and fine banks and brokers.


FSA chairman Howard Davies says: &#34 The position we have at the moment is a halfway house and cannot survive indefinitely.&#34


The bill has been heavily criticised by financial service organisations and lawyers who say it is unfair, lacks detail and gives the FSA inadequate responsibility.

Recommended

Standard Life survey shows continuing confusion over pensions

Consumer ignorance surrounding pensions is creating an environment which is discouraging people from investing in their future, according to a survey by Standard Life.The survey finds that 55 per cent of consumers are not sure how their pension is invested and 49 per cent need advice from traditional financial service providers before buying a pension.It […]

AITC launches shareholder value initiative

The Association of Investment Trust Companies is launching a number of initiatives which it hopes will enhance shareholder value.The trade body has commissioned a &#34Reference Book for Directors&#34, which will be researched and edited by Nigel Sidebottom, formerly of Greig Middleton.It will also produce a guidance note on best practice for investment trust company reports […]

Goldman Sachs downgrades year-end market prediction

Goldman Sachs says it remains cautiously optimistic despite limiting its 12-month forecast for European equities to a rise of between 5 per cent and 10 per cent.The US investment bank says it has lowered its forecast, because despite interest rate cuts in the UK and US, the market is not discounting the risks to earnings […]

Portman offers range of new mortgages

Portman is launching six mortgages offering a wide range of benefits to cater for the varied needs of home buyers.The range of products includes capped, fixed and discounted interest rate mortgages and benefits such as no early repayment fee, free valuation and cashback.All six products are available through IFAs from November 1 and have an […]

Unfinished business?

Pension specialist Fiona Tait gives an update on three big announcements from the 2016 Budget – Pensions Advice Allowance (PAA), the Lifetime ISA (LISA) and the pension dashboard. £500 Pensions Advice Allowance What’s new Under current rules it is possible to deduct an adviser charge from a defined contribution pension fund to pay for financial […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com