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FSA hands Equitable report to Treasury

The FSA has finally handed the Treasury the report of its handling of the Equitable Life debacle, some three months after it was originally expected.

The long-awaited report looks at the FSA&#39s regulation of the troubled life office and was prepared over the last 10 months by FSA director of internal audit Ronnie Baird.

This still doesn&#39t mean the report will ever see the light of day as the Treasury has said it will discuss the merits of publishing it with Lord Penrose, who is conducting a Government commissioned independent review of the entire episode.

Economic secretary to the Treasury Ruth Kelly has said she will only order it to be published if Penrose agrees it will not prejudice his own inquiry.


Berkeley Morgan sets up online share dealing service

Insurance and financial services group Berkeley Morgan, which includes an IFA division, has launched an online share dealing service.It has linked up with DLJ Direct to offer over 60,000 clients the new service through its website and claims to have among the lowest dealing charges in the UK.A range of options are available online including […]

Paul Tebbutt

Being an IFA is not as much fun as it used to be if youare a one-man band or part of a smaller firm. For the84 per cent of all IFA firms that have fewer than five advisers, the bad news is that the situation is only going to get worse as a result of […]

Closing in on tech

Close VCT Management, the venture capital trust arm of Close Brothers is offering a new share issue in its Close technology & general venture capital trust (VCT). This VCT invests in technology and unquoted companies in other sectors and is divided between an income portfolio and a growth portfolio. The growth portfolio focuses on European […]

IFAs put their trust in paper

IFAs are turning their backs on electronically created compliance documents and data storage systems in favour of paper files at a time when compliance burdens are set to increase.Only 4 per cent of IFAs create their main compliance documents exclusively through an automated computer system, with only 2 per cent storing all their compliance documents […]


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