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Farnish quits FSA for NAPF

Christine Farnish is quitting her post as director of the FSA&#39s consumer division to become chief executive of the National Association of Pension Funds. She takes up her new post from July. Farnish has proved a controversial figure among advisers. She has worked on areas such as stakeholder decision trees, league tables, the endowment issue and on the past performance task force. Initiatives from her division such as a CD Rom for investors providing generic advice were criticised by advisers who believed the FSA was trying to take over their role, though the regulator disputed this.

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We hear that our Power & Influence List, apart from threatening the careers of those who feature too high in the list, is also giving people the opportunity to address each other in new ways.When Norwich Union sales and mark-eting director Peter Hales got a letter from Oliver Wyman & Co head of insurance practice […]

RBSI bond absorbs fund of funds trend

Royal Bank of Scotland International has absorbed the trend for funds of funds with its first guaranteed equity bond to be linked to a basket of funds.The five star bond is linked to five offshore funds — Fidelity European growth, Julius Baer Japan leading stock, Credit Suisse equity fund (Lux) USA, Merrill Lynch Mercury offshore […]

Norwich and Peterborough – Six Month Fixed Rate Bond

Wednesday, May 8, 2002Type: High interest accountMinimum-maximum investment: £1,000-£500,000Interest rates: 4.15% gross a year, 4.07% gross a monthTerm: Six monthsOffer period: Until further noticeWithdrawal penalties: No penalty provided £1,000 remains in thebond. Otherwise 30 days’ loss of interest on amountwithdrawnTel: 0845 3002511

Define business to avoid &#39remedies&#39

Is defined payment the weakest link in the FSA&#39s CP121 proposals? It appears so. Managing director John Tiner says the FSA is considering other options. David Severn apparently puts its survival at 50-50. At the G80 conference last week, 80 per cent of those present believed it would be modified. And we hear the Treasury&#39s […]

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