View more on these topics

Duffy ‘discrimination’ claim over FSCS levy

The way that the Financial Services Compensation Scheme levy collects from the mortgage sector discriminates against firms with a blue-chip client base, says Hamptons International managing director Kevin Duffy.

Duffy criticises the levy for charging a percentage of turnover rather than a per-RI charge, as for IFAs. He says that these clients are more financially astute and have more capital available and therefore represent a lower risk.

But Riach Independent Financial Services proprietor Bob Riach says firms working with clients with bigger funds present a bigger risk than less-well-off clients.


Friends in extranet warning

IFAs risk contravening the Data Protection Act by sharing passwords for life office extra-nets, warns Friends Provident. Friends is to launch a new service for IFAs using its extranet to help firms control who has access to their company’s data on the site and prevent them sharing passwords. The technology will speed up the process […]

Skandia stems the re-registration flow

Skandia’s decision to focus on attracting new business and move away from re-registration as a means of asset gathering is indicative of the financial pressures afflicting fund supermarkets.

CGT entrepreneurs' relief

Entrepreneurs’ relief is due, subject to meeting certain conditions, in respect of capital gains arising on ‘material disposals of business assets’. These ‘business assets’ include: Read more


News and expert analysis straight to your inbox

Sign up


    Leave a comment