Advice given on the Sandler suite of products will have to be suitable to the consumer to whom they are sold. Sandler consumers will be able to take unresolved complaints to the Ombudsman. The FOS will look at the specific rules on suitability for simplified selling rather than those that apply in the case of full advice.
Friends Provident is to use £20m in unclaimed shares from its demutualisation to set up a foundation aimed at promoting charity work and philanthropy. The Friends Provident Foundation launches on July 14 with a debate and publication entitled, The Right Use of Money in 21st Century Britain, suggesting approaches that governments, private bodies, voluntary organisations […]
Sales inteviews for selling the stakeholder products will be pre-scripted by the firm, and the sales person will have clear limits on the issues the can advise on. Firms will have to be FSA authorised but sales advisers providing basic advice will not be required to have any financial qualifications.
Type: Oeic Aim: Growth by investing in European equities excluding the UK Minimum investment: Euros 5,000 Investment split:100% in European equities excluding the UK Place of registration: Dublin Charges: Initial 3.5%, annual 1.5% Commission: Initial 3%, renewal 0.5% Tel: 0800 0159592
Pink Home Loans is dropping charges for members until October 31 when mortgage regulation commences. Intermediaries joining Pink's appointed representative network can do so under their own MCCB number and will only have to pay an application fee. Pink IT and compliance director Elliott Stoneham says: “The only cost will be the initial application fee, […]
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The government has given reassurances a ban on cold calling will be in place by June. Yesterday, economic secretary to the treasury John Glen repeated the government’s intention to introduce a cold-call ban as soon as possible. During the third reading of the Financial Guidance and Claims Bill, Glen said Clause 9, introduced by the […]
The template for the disclosure of transaction costs and charges set up by an FCA panel will be released by the end of this week, Money Marketing understands. The institutional disclosure working group is an independent panel created by the regulator last September following the package of remedies outlined in the FCA’s final report into the […]
Good events are becoming increasingly hard to find. There are several reasons for this, and the prospects of the situation improving in the near-term look bleak. Technical sessions from providers have been drying up – I assume for fear of being deemed to break FCA inducement rules. I fondly remember the pensions education sessions with […]