The FSA has banned three directors of BPS Insure for failing to notify it of a £3m deficit in its client account. London-based BPS also used client money to pay its general expenses, further increasing the deficit.
Windsor Life gets worse and worse. We sent in a £1,000 single premium for a personal pension in February. Not only could it not do the fund that GE Life originally had but it also turned out that it would not pay commission, which I know is something that Windsor Life is not really used to. Apparently, with the GE Life contract, it used to do a separate policy for increments and Windsor Life does not have that facility.
Dr. Andrew Lo, Founder and Chief Investment Strategist at AlphaSimplex, says the financial market has experienced the ‘Marching Band Effect’ over the past few years, with the various elements moving to left and right together and feeling the risks as one, making the effect more dynamic.
The Liberal Democrats are calling for the government to introduce a cooling off period for people who take more than the minimum lump sum from their pension pot without taking financial advice. Currently, withdrawals over the 25 per cent minimum are taxed at an emergency tax rate, which can lead to pensioners paying too much […]
Regulator unveils proposed directory of senior financial services professionals, publishes fees for 2018/19 and approves new tech-based mortgage firms. The Financial Conduct Authority published a raft of reports, consultations and policy initiatives over the past month and many will have a direct impact on the mortgage sector. Recently, the FCA has put forward plans to […]