View more on these topics

Ex-PWC woman to probe complaints against FSA

The FSA is appointing Rosemary Radcliffe as independent complaints commissioner res-ponsible for examining cases made against the regulator.

Radcliffe, a former Pricewaterhousecoopers chief economist, will operate independently of the FSA and will investigate complaints by, among others, authorised firms and consumers. Her remit, which comes into effect this week, includes the power to investigate allegations of mistakes and lack of care, unreasonable delay, unprofessional behaviour, bias and lack of integrity made against the FSA.

But the industry has raised concerns over the app-ointment, saying the FSA is not bound by any findings that the commissioner reaches. However, an FSA spokes-man says the regulator is likely to abide by any decisions.

Radcliffe, 56, was a partner at PWC from 1982 to July 2001 and had a background in dispute resolution with the firm. She has also served on a number of Government advisory and review bodies.

Treasury economic secretary Ruth Kelly says: “Rosemary&#39s distinguished career spans more than 30 years in both the private and public sector. Her breadth of expertise and judgement will be invaluable in making the FSA answerable to all its stakeholders.”

Radcliffe says: “I see my role as crucial in underwriting the FSA&#39s accountability as regulator to the financial services industry and to the wider public. It is vital for regulators to know that their actions may be exposed to independent scrutiny.”

Recommended

Deutsche Asset Management – Deutsche Corporate Bond + Fund

Monday, 3 September 2001.Type: Oeic.Aim: Income by investing in investment and non-investment grade bonds.Minimum investment: Lump sum £1,000 class A shares, £500,000 class B shares, monthly £25 class A shares.Investment split: Investment grade bonds 80 per cent, non-investment grade bonds 20 per cent.Yield: 5.85 per cent.Isa link: Yes.Pep transfers: Yes.Charges: Initial 4 per cent class […]

Cancer tests may lead to dual-pricing

Critical-illness policyholders will have to choose whether to pay higher premiums or have less coverage if the ABI implements the results of a consultation exercise. A Government screening policy for prostate cancer means more cases are expected to be caught, resulting in increased claims.The ABI asked members if they wanted policy wording to be rewritten […]

Interest rate left unchanged

The Bank of England Monetary Policy Committee has voted to leave interest rates unchanged at 5 per cent, despite calls from the manufacturing sector, already in recession.The decision had been widely expected in the light of the strength of the housing market and high street spending, but the FTSE responded by falling to a three […]

Baronworth stoxx up growth

Baronworth Investment Services has joined forces with InvestlifeLuxembourg to produce the high income & growth bond.The product is a guaranteed equity bond and is aimed at themedium-risk investor looking for a product that gives either incomeor growth over a five-year period.Investors can choose to take either 2.44 per cent income everyquarter, 10.45 per cent income […]

Reforming India: just the beginning

By Kunal Desai, Neptune India Fund

As global investors continue to scour emerging markets through the lens of reform potential, India shines bright. Indeed, we think it can sparkle even brighter. We anticipate India’s self-imposed 10-year ‘policy holiday’ to turn into one of the most pro-growth and pro-investment policy calendars seen in Asia in years. The Indian electorate has engineered a historic verdict. We now have the strongest Indian government since 1984, with the pro-market Bharatiya Janata Party (BJP) achieving an absolute majority for the first time in the party’s history.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment