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FSA points to firms&#39 compliance failings

The FSA says 99 out of 100 companies are failing to comply fully with its

rules. The regulator&#39s internal study revealed only 1 per cent of firms are

found to be fully compliant when it conducts routine inspections. But it

says the figures must be looked at in the context that the changes it

enforces are usually minor and only 2 per cent of cases are passed for

further action.


Pension punishments set to soar

The number of employers punished for making late payments to their staff retirement schemes is likely to soar under a proposed change in the law.The Occupational Pensions Regulatory Authority is to convert late payment of contributions from a criminal to a civil offence to increase the number of prosecutions it is able to make.Under the […]

High-tech bonanza

It pays to invest in high-tech firms, according to a new survey by the British Venture Capital Association.The survey with WM Company shows UK venture capitalists achieving returns from high-technology companies more in line with their US counterparts.Average gross returns are 23 per cent per year with the best returns coming from early-stage investments at […]

Lenders call to drop compulsory insurance

Specialist mortgage lenders are calling upon the Government to abolish compulsory insurance and make redemption charges clearer. Lenders made their views known at the second of a series of mortgage “summits” with trade and industry secretary Stephen Byers.Byers met nine lenders who argued redemption penalties should be expressed as a cash sum and should not […]

Mortgage complaints rise

Consumer mortgage gripes have soared by 50 per cent in the last year.The 3,104 mortgage complaints won the number one spot in the league table of problems dealt with by the Banking Ombudsman scheme. They also accounted for nearly a quarter of all complaints between October 1998 and September 1999.The Ombudsman said lenders should be […]

What are the key changes to transform pensions?

By Fiona Tait, pensions specialist In her final article for Royal London, Fiona Tait reviews key changes she believes have transformed, or will transform, pensions. In my 12 years with Royal London I have been paid to review, study and explain the numerous changes to pension legislation which have transformed our industry in that time. This is […]


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