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Friendlier face of the FSA

I wrote at the beginning of October last year following a visit from the FSA pension review team, headed by Darren Williams, to say that while the visit was inevitably somewhat traumatic, it was carried out with the best possible approach from Darren and his team.

We received his report and there was quite an amount of additional work required to “comply”. However, we were given five months in which to carry out the work and, at the end of March, Darren and a colleague visited us again, but only for one day, to check that our efforts were appropriate to the requirements.

I feel it is only fair to Darren and his colleague, to ask you to pass on my thanks for the helpful and empathetic attitude shown on this second visit.

I was able to fulfil the great majority of the requirements to the satisfaction of the team and although there are still one or two t&#39s to be crossed and i&#39s to be dotted, I am pleased to say that we can, as a result of the visits, consider ourselves to be pretty well up to the mark for the pension review.

While it may have saved us some effort and worry if the visits had not taken place, by accepting the requirements of the FSA and making every effort to comply, I now feel that we are probably as compliant as any IFA.

Chris Howell

Seaway Insurance Consultants,

St Marychurch,Torquay, Devon



Does anyone remember the days when life offices were risk takers? I do not mean prolific gamblers but rather when they last ran a book of business that included profits and losses on each contract with the ultimate aim of delivering profit to the company. Since investment business became the key focus for life offices, […]

BFS Investments – US Special Opportunities Split Cap Trust

Wednesday, 18 April 2001.Type: Split capital investment trust.Aim: Income and growth by investing in equities and convertibles issued by US smaller companies and UK high yield securities.Minimum investment: Subject to negotiation with stockbroker.Maximum investment: No maximum.Investment split: US 60 per cent, UK 40 per cent.Types of share: Zero-dividend preference shares, income shares, capital shares.Isa link: […]

Merrill Lynch Investment Managers – MST World Energy

Friday, 20 April 2001.Type: Sicav.Aim: Growth by investing in oil, utilities and alternative energy.Minimum investment: $5,000.Place of registration: Luxemburg.Investment split: US 50 per cent, Canada 7.5 per cent, Australia 2.5 per cent, Europe 40 per cent.Isa link: No.Charges: Initial up to 5 per cent, annual 1.75 per cent.Commission: None.Tel: 020 7743 2096.

Independent minded

The decision by a number of financial services companies to cut their direct salesforces and the apparent general move towards downsizing in the industry could leave many sales employees with reduced options for employment. Being an employee used to mean that you were prepared to trade off security of employment for perhaps lower earnings or […]

Guide cover

Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


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