Senior executives at Equitable Life have received copies of the report ahead of its publication. Financial secretary Ruth Kelly said the serving directors had been given extracts of Lord Penrose's report early to assist the Treasury ' with its public functions.'
I was interested to read the comments of Walter Merricks on behalf of the Financial Ombudsman Service complaining about the industry holding contrary views on the issues of consistency in FOS decisions and the right of the FOS to set precedent (Money Marketing, January 22). He says if you want consistency, you must have a […]
Type: Enterprise investment scheme Aim: Growth by investing in a Shetland-based cod farm Minimum investment: £30,000 Opening/closing date: January 1, 2004/March 1, 2004 Charges: Initial 4% Commission: Initial 2% Tel: 0141 5641523UNIT-LINKED BONDSSKANDIAMultiBond - Skandia Distribution BondType: Unit-linked bondAim: Income and growth by investing in a range of distribution fundsMinimum investment: Lump sum £5,000Fund links: […]
Estate agency Jackson-Stopps and Staff has added its support to sellers' packs group Splinta who are campaigning against the packs. The company says it has reached the conclusion that the home condition report contained in the home information pack is totally inappropriate for the type of property the firm deals with.
US medical specialist database service Best Doctors is looking to gain a stronger foothold in the UK following the appointment of its first UK and Ireland general manager. Former Munich Re protection new business manager Peter Mannion has taken on the role and is looking to make the UK as prominent a territory for the […]
Last year, worldwide mergers and acquisitions (M&A) rose to an unprecedented $4.7tn, according to Thomson Reuters, a 41 per cent increase over 2014. Anthony Forcione, senior equity analyst at Loomis Sayles, an affiliate of Natixis Global Asset Management, looks at what’s been driving this particular wave of mergers. Click here to view full article: Loomis-Sayles
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]