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Financial Services and Markets Bill is put to the house

The Financial Services and markets Bill was introduced into the House of Commons today.

The Bill provides the framework within which the Financial Services Authority will act as the single regulator.

It provides the FSA with a full range of statutory powers will create the Financial Services and Markets Tribunal, which will act as the court in the first instance for regulatory action by the FSA.

The Bill will set out the framework for a single ombudsman and compensation scheme to add further protection for consumers.


CGU Life special offer to end soon

The special offer on CGU Life&#39s Portfolio Bond is set to close on June 30.The special offer which takes the form of an increase in annual bonus, sees investments of between £5,000 and £24,999 receive a 1 per cent bonus, while investments of £25,000 plus receive 2 per cent.Since the beginning of the year the […]

ABI adds fourth managed sector to classifications

The Association of British Insurers&#39 has added a fourth managed sector to its investment classifications.The &#39Defensive Managed&#39 sector comes into effect on September 20, alongside the current Cautious, Balanced and Stockmarket managed sectors.The new sector has been introduced to meet the needs of risk averse investors wishing to invest in equities.Defensive Managed funds will have […]

Long Term Care market shrouded in uncertainty

The long term care market is still shrouded in a veil of uncertainty despite the release of the Royal Commission Report.This was the message from a LTC conference held in York last week by York Insurance Institute.CGU&#39s life long term care strategy manager and chairman of the ABI LTC committee Sandy Johnstone told the conference: […]

Public onfidence at risk if lenders fail to pass on mortgage rate cut

Virgin Direct decision to drop its mortgage rate follows research showing public confidence could become a casualty if cuts were not passed on.Virgin&#39s 0.25 per cent rate cut follows last weeks reduction in the Bank of England&#39s base rate.The research by Mori conducted after the previous BoE rate cut which was only partially passed on […]


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