The Association of Finance Brokers and Association of Mortgage Intermediaries have claimed victory in securing an amendment to the European consumer credit directive which would have banned commission.
The personal accounts delivery authority launched its consultation on choosing a charging structure to pay for personal accounts today.The consultation paper outlines a number of ways charges could be deducted including an annual management charge, a contribution charge and a joining charge.But Pada identified the fact that different charging structures favour different potential members depending […]
The FSA has banned Jonathan Leigh Hardie, of Primedale Financial Services, from being a senior manager for mishandling mortgage endowment complaints over a period of five years.
Standard Life has announced that an estimated £800m of bonuses will be added to its with-profits plans in 2008.Its with-profits bonus declaration states that bonus growth rates for unitised with-profits bonds will increase from 2 to 2.5 per cent per annum and from 1.5 to 2.0 per cent for other life plans.Standard Life says where […]
Paragon has confirmed that its shareholders have voted unanimously in favour of its proposed rights issue at its Extraordinary General Meeting today.The buy-to-let specialist lender had announced to the stock market in November that it would have to do an emergency rights issue as a result of funding problems caused by the credit crunch.It has […]
This year looks set to bring a new danger for pension savers and their employers.
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Claims management companies must be more specific on separate permissions and competency when they under the remit of the FCA, according to HM Treasury. Under rules proposed in the Treasury’s latest consultation paper, claims management companies will operate under six sectors – housing disrepair, industrial injuries disablement benefit, personal industry, financial products and services, criminal […]
Knowing what assets each operator will accept and with what conditions is becoming increasingly difficult The recent well-publicised events concerning Sipp operator asset acceptance have focused the mind of a number of advisers. We have been fielding enquiries about our own Sipp and the asset classes we as a Sipp operator would consider. But this […]
Investment trust sales may come under pressure due to new EU rules, experts have warned. The potential benefits of gearing on investment trusts risk being overlooked as new cost reporting rules make them look more expensive compared with open-ended funds. Traditionally, closed-ended funds have looked attractive based on lower costs compared with other structures, as […]