More complex situations are invariably referred to as specialists in a particular field, further reinforcing the similarity.More recently, I recall the regulator using the example of selling tins of baked beans as an apt metaphor for the distribution process, in what was doubtless a well intended attempt to demystify the whole advisory issue in the eyes of the public. However, I can think of no compelling example in which an intermediary, who accepts product descriptions from highly regarded manu-facturers in good faith, is sub-sequently held responsible for their components. This could set some inter-esting legal precedents. For instance, will GPs have to revisit their PI policies with the fear that their friendly medical representative may have marketed a dodgy product to them in the past? I somehow think that SmithKline and Roche are not going to get away with product recalls and lawsuits any more easily in the future. Only a fortnight ago, the FSA was forced to recall hundreds of toxic products in a slightly belated attempt to protect consumers. OK, a different regulator in a different sector, but I do not anticipate that there will be too many prosecutions of Marks & Spencer or Morrisons in this context. Sudan 1, Splits 1, Structured 1, IFAs 0 – take your pick. Philip Dodd, PSD Robinson Gear, Manchester
Charcol is urging the Chancellor to amend the “antiquated” rules governing stamp duty in his Budget statement on March 16. The broker also claims that the misery caused by inheritance tax limit is unacceptable, given that property prices have soared over the last few years, leaving many homeowners, particularly in the south of England, beyond […]
Money Marketing mortgage round table
An increase in intermediaries specifically dedicated to equity-release products is needed to encourage growth in the sector, says Purely Mortgages managing director Mark Chilton.
Fidelity is launching two asset management businesses in South Korea and India. The first tailor-made products for local investors will be launched this month with Indian investors offered an Indian equities fund, and Korean investors offered a choice of ten domestic funds that invest in Korea and global markets.
SimplyBiz and Mortgage Support Network have launched joint venture company Broker Support Services aimed at supporting directly authorised mortgage intermediaries.
The Swiss Re Group is a major reinsurer in the group risk market in the UK. As such, their Group Watch 2015 report is a useful indicator as to the current state of play in the area of employer sponsored group life, group income protection, and group critical illness markets.
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Support service provider SimplyBiz has signed a third new deal for defined benefit transfer advice work after its original partner pulled out of the marketplace. In an email to members seen by Money Marketing, compliance director Gary Kershaw apologises for any inconvenience caused by Crowborough-based advice firm CFPML’s decision to exit the DB transfer marketplace. […]
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