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Euro Equitable row escalates

The row between members of the European Parliament Equitable Life committee has escalated with Conservative MEP Sir Robert Atkins accusing Labour MEPs of trying to wreck the report for political gain.

Money Marketing revealed last month that a row was developing between members of the committee, with Labour MEP Peter Skinner attacking the draft report and accusing other members of politicising its findings and betraying the policyholders.

The committee met today to finalise its conclusions and recommendations which all of the members voted for with the exception of the Socialist Group- which Labour MEPs belong to.

Atkins says Labour MEPs on the committee are seeking to wreck the report on the basis that it criticises British financial regulators and the UK Government.

Atkins says: “This would be folly, since those who presented us with evidence of deceit; failure and incompetence – the pensioners – want the finger pointing somewhere.

“This sensible constructive report does just that and Socialists will be letting down those who suffered financial and personal loss if the report is rejected”.


Correspondent’s Week

This week by ex-Daily Mail personal finance reporter James Coney, now deputy business editor at the Daily Mirror.

Sipp mis-buying – not misselling – is the problem, says Vantis

Vantis, the AIM-listed business advisory, tax and accountancy firm, is rejecting warnings from some IFAs that Sipps could be the subject of the next mis-selling scandal, claiming instead that investors have bought into them sometimes in spite of advice that they are not the right vehicle.

CII creates new board structure

Chartered Insurance Institute members have voted in proposals to modernise the organisation with a new governing board replacing its existing council.The governing board will comprise of 13 people including employer and consumer members and will replace the CII’s existing 49 person council.The Council will be expanded to 65 members and will fulfil a representative function.CII […]

FSA’s placement plan casts shadow on IFAs

The FSA’s plans to have members of its staff shadow IFAs at work has met with a mixed response from the industry.The regulator says the main purpose of the placement scheme is to allow FSA employees to experience the sales process at first hand for a few days to enable them to gain a better […]

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