The long-awaited draft distance selling directive is due to be adopted by the European Commission this week. It will seek to regulate sales of financial services products by phone and over the internet and could stipulate a minimum cooling-off period of 14 days. Life offices are expected to have to make few adjustments as they already operate under tight regulations. But the move could add an extra regulatory burden to mortgage lenders. There is also concern that a previous draft which appeared in the spring cuts across existing UK regulations.
The Mortgage Code Register of Intermediaries is attacking IFAs for the first time with a threat to deregister 120 firms if they fail to prove they hold a consumer credit licence.A valid consumer credit licence is a requirement of membership of the MCRI. If deregistered, a broker would not be able to place business with […]
Edinburgh Fund Managers is signalling that the stock market has reached levels where it will consider adding to its portfolio rather than reducing its exposure.The fund manager says that it remains neutral on UK equity but it believes that bond yields will continue to support the market. It believes market priced less than 4800 would […]
Last week was Adult Learner’s Week, a celebration of lifelong learning and continued education. But why should education stop after school?
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
More and more of my conversations with advisers are focused on those clients that have exceeded the lifetime allowance and have either not been eligible for any of the protections available at the time or have invalidated the options before they realised. There is little the adviser can do; a problem compounded thanks to not […]
M&G is to transfer four UK-domiciled funds to equivalent Sicavs on its Luxembourg platform in a “prudent” move amid uncertainties around the Brexit negotiations. The £275bn fund group, which has already outlined plans to launch Sicav funds in Luxembourg, will move £6bn in assets to the continent by November of 2017. Subject to shareholder approval, […]
Chief executive of technology provider best known for its transfer service to stand aside after 10 years at the top