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FSA castigates basic errors by brokers

The FSA says simple errors by firms completing application forms for authorisation to continue writing mortgage and general insurance business are causing delays.

To deal with the problem, which is slowing down the regulator&#39s processing of the 5,000 applications received to date, the FSA is posting on its website a list of the most common mistakes that intermediaries are making and a series of tips for completing applications successfully.

It says firms are failing to notice the “000” outside income boxes, inflating their income by thousands of pounds. Another mistake is sole traders applying to be an approved person.

Firms are applying for individuals to have every controlled function when most of these functions do not apply to most firms. These applications are being delayed while the FSA establishes what is needed.


Bogard quits as Chase de Vere chief

Mark Bogard has resigned as managing director of Chase de Vere Financial Solutions. Bogard joined the group after its acquisition of financial website Moneyextra and oversaw the merger of IFAs MX Financial Solutions and Chase de Vere Investments in March last year. Parent company Bank of Ireland pushed through the merger in May. The shake-up […]

Edinburgh Partners – Global Opportunities Fund

Type: Oeic Aim: Growth by investing in global equities Minimum investment: Lump sum $10,000 Investment split: 100% in global equities Place of registration: Dublin Charges: Initial up to 5%, annual 1.25% Commission: Subject to negotiation Tel: 0131 270 5570

Pru launches DB protection scheme

The Prudential has launched a new platinum protection pension scheme aimed at protecting final salary or defined benefit of pensions of employees transferring under the TUPE agreements from the public to the private sector. The scheme aims to protect people who have been members of a public sector scheme. It provides certified benefits similar to […]

Goldman Sachs pledge to keep up Lincoln leading bond pace

Lincoln&#39s top-performing corporate bond fund has passed its third anniversary with manager Goldman Sachs Asset Management pledging to maintain its first-quartile performance. The fund, which invests across the bond spectrum, is currently ranked second out of 74 funds in its sector with a rise of more than 28 per cent since launch in March 2001. […]


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