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Endowments probe not ruled out

A full-scale endowment mortgages review may be a step closer as backbench and opposition MPs increased pressure on the government to take action.

An Early Day Motion calling for the Government to investigate the extent of endowment misselling is being forwarded by Lib Dem financial spokesman Dr Vincent Cable.

The motion says “much distress” has been caused by the controversy and asks ministers to “establish the scale of past misselling to name and shame the worst perpetrators and establish arrangements by which the industry can compensate the victims.”

Labour backbencher Paul Flynn says: “I don&#39t accept the conclusion of Financial Services Authority that there doesn&#39t need to be a review. There needs to be one and there is strong support in parliament.”


Gartmore prepares for &#39bidding frenzy&#39

Gartmore is preparing for a bidding frenzy after revealing its “best ever” performance last year.Its figures show a return of 27 per cent on the company&#39s average segregated UK balanced pension fund compared with 19.5 per cent for the average manager for last year.The returns revelations have come just before the sale of Gartmore kicks […]

Isa confusion claim

The Government is confusing worried Individual Savings Account customers, according to Gartmore.The fund management group is claiming Isa rules make consumers fear they are breaking them even when they are not.Gartmore is recommending the Government devise a single annual Isa allowance of £5,000 and stop baffling people with how much they are allowed to invest […]

ABI euro push

The Association of British Insurers is bracing the industry for the introduction of the euro by publishing details of three initiatives.The ABI is set to reveal details from an ongoing programme of work with the aim of providing comprehensive and detailed guidance to help insurers prepare for a possible entry into the Euro.The second publication […]

BoS new bid plans

Bank of Scotland is set to reveal three joint ventures in a bid to boost its takeover bid for National Westminster Bank.The bank is not being drawn on the detail but have indicated the three ventures will be on a significant level.The news has increased pressure on rival&#39s in the takeover battle, Royal Bank of […]


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