View more on these topics

FSA bans Young & Ridgeway IFA for breach of AP principle

The FSA has banned Young Ridgway & Associates former director Idris Nagaty from trading.

Ridgway was accused of failing to ensure his firm was suitably organised to ensure customers’ interests were safeguarded.

The FSA reached the conclusion Nagaty’s failings constituted breaches of its statements of principle for approved persons.

Nagaty is prohibited from undertaking any significant influence function in any authorised firm until at least September 1, 2007.

FSA director of enforcement Margaret Cole says: “One of the FSA’s statutory objectives is to secure the appropriate degree of protection for consumers and in doing so we have a responsibility to ensure that the senior management of authorised firms adhere to our rules.

“Our investigations concluded that Idris Nagaty is not a fit and proper person to manage a regulated firm and we took the necessary enforcement action of prohibition as a consequence.”


Credit where credit is due

There are some events in life which make us realise how precious our existence is and appreciate our lifestyles. Some even remind us of the immense value that we provide in the financial-advice profession, more than any other except, perhaps, the medical sector.

Berkeley offers MPPI holiday waiver to young borrowers

Berkeley Alexander is cutting the cost of mortgage payment protection insurance for younger people in a new product offering a three-month payment waiver. Mortgage Lifeline introduces age-banding and an initial three-month payment holiday, reducing premiums for young policyholders. Berkeley Alexander claims that 85 per cent of people taking out an mortgage payment protection insurance policy […]

Happy hour for sipps?

When two men in a pub can effectively decide to sell their own Sipp is it time for regulation? James Phillipps finds the industry divided.

A clear picture

Our panel of experts look at the implications of selling PTA under Icob and Cob rules and the ABI’s proposed changes to CI


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm