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Equitable says Baird report will help its own investigation

Equitable Life says the Baird report will assist its own investigation into whether legal action can be taken against previous directors, advisors or regulators.

Herbert Smith is acting on behalf of Equitable to see if policyholders can claim for compensation from regulators. The law firm will use the Baird report to reduce costs, but will not be bound by its findings

Equitable, however, wants regulation over a much longer period to be examined and hopes the Penrose enquiry will cover this ground.

Equitable has also hit back at suggestions from the Treasury did not co-operate with the Baird review. It says it provided a large amount of information to the FSA.


Rock and C&G are poised to buy Mortgage Brain stakes

Northern Rock and Chelten-ham & Gloucester are poised to acquire stakes in Mortgage Brain in moves which would see the trading platform account for 80 per cent of the market.The two lenders admitted this week that they are on the brink of signing agreements with the four owner lenders – Nationwide, Halifax, Alliance & Leicester […]

Quester goes for innovation

Quester Capital Management is offering new shares in its Quester venture capital trust (VCT). This venture capital trust aims to produce income and growth by investing mainly in unquoted companies, although around 15 per cent will also go into quoted companies and fixed-interest securities. This VCT has a general focus that is spread across sectors […]

Online opportunities

Where did it all go wrong for business-to-consumer financial websites? Only a year ago B2C personal finance websites were all the rage. Any self-respecting high-street bank, life insurance company or mortgage provider was building and launching a consumer-facing website.Many were investing millions of pounds launching entirely new brands to try to attract a younger, affluent […]

450 IFA firms registered for Transact tools

Portfolio consolidator Transact has passed the £100m sales mark just 11 months after its launch into the UK market.The trading platform, which earlier this year formed a strategic alliance with the AITC, now boasts more than 300 firms of advisers on board, with a further 150 registered to begin using the service in the near […]


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