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FSA lets IFAs mediate during enforcement investigations

From this week IFAs will be able to apply for mediation when they are being investigated by the FSA.

Following a review of the regulator&#39s enforcement process, the FSA has decided to provide greater access to the mediation process in an attempt to encourage firms to settle more quickly.

Firms will be able to apply for mediation on all areas of investigation except criminal cases. This includes unfitness, impropriety and variation of permissions.

FSA spokesman Robin Gordon-Walker says the intention is that less complicated cases will be able to be mediated at a lower cost He says so far mediated cases have ranged in cost from £2,000 to £7,000.


MPs dig themselves out of trouble

In a scene reminiscent of Shallow Grave, the Diary observed a series of shadowy figures gathering in the House of Commons car park this week. As the sky darkened and snow flurries started, the thudding of spades being thrown into the boots of cars could be heard from St Stephens Gate. The Diary hears several […]

Commission is set for a shake-up, warns MP

Treasury select committee member Angela Eagle has warned IFAs to expect a radical restructuring of the commission system in the wake of the committee&#39s analysis of the life sector. Following committee chairman John McFall&#39s attack on life offices last week over endowment misselling, Labour MP Eagle says the committee will recommend in its report to […]

McFall&#39s bonus of contention

Chairman of the Treasury select committee John McFall has lashed out at life offices over their failure to accept responsibility for misselling endowments. Speaking to Money Marketing, McFall says he wants to see the big UK life and pension providers made more accountable for their actions over misselling and the increasing problem of mistrust in […]

62 per cent of HNW have PMI – survey

Sixty-two per cent of high earners in the UK have private health insurance, with 36 per cent saying avoidance of waiting lists as the reason for taking the product, according to research from Lloyds TSB Premier Banking. Only one per cent said private health insurance does not offer good value for money, and eight per […]


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