Martin Wheatley 480

Martin Wheatley 480

Martin Wheatley, the FSA’s managing director, speaks at the Thomson Reuters building in Canary Wharf, London, September 5, 2012. Britain’s banks have 18 months to stamp out incentives that encourage the mis-selling of financial products or face “intrusive” action, the Financial Services Authority said on Wednesday. UK banks have been hit by a string of scandals in the last 20 years for inappropriate selling of products, such as insurance, home loans and pensions, to customers who often did not need them. Compensation for mis-sold loan insurance alone will cost the banks 9 billion pounds. Martin Wheatley, the FSA’s managing director, told a Thomson Reuters Newsmaker event it was time to tackle incentives for sales staff as banks were no longer serving customers properly. REUTERS/Simon Newman (BRITAIN – Tags: BUSINESS)

Recommended

Martin Tilley Cut Out Medium
7

Martin Tilley: Words of warning on toxic transfers

The new pension freedoms are finally here and, as both national and trade press have reported, there is huge interest in the drawdown flexibility and more favourable treatment of funds remaining on death. Much of this interest will come from members of defined benefit schemes who previously enjoyed neither the flexibility of income nor, in […]

Japan-Stock-Market-Stockmarket-Nikkei-700x450.jpg

Japan’s Nikkei passes 20,000 level

Japan’s benchmark Nikkei 225 index has edged past the 20,000 barrier in early trading for the first time since April 2000. The BBC reports the index hit 20,004.99 before falling to 19,907.63 at the close. Markets were buoyed by US energy stocks and a strong performance by Fast Retailing, Asia’s largest clothing retailer. Earlier this […]

Why Newton is going against the grain

With stock markets reaching new highs, many financial commentators share a common belief – global economies are on the road to recovery. Newton’s view of the world, however, is very different. For them, the upturn has been driven by government and central bank policy across the globe, rather than from any real economic recovery. They […]

Technology & Fear

By Ali Unwin, Chief Technology Officer & Manager of the Neptune Global Technology Fund Fear has always been a key ingredient for technological experimentation and adoption, and today is no different. But when and where are these fears justified? asks Ali Unwin, Chief Technology Officer and Manager of the Neptune Global Technology Fund  Click here […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment