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FSA pro-Euro stance

The Financial Services Authority has warned London could be threatened as a leading finance centre if the UK never joins the single European currency.

FSA chairman Howard Davies is saying Governments committed to staying out of the Euro indefinitely might deter large financial institutions from building on their London presence.

Davies says: “I think for the moment, where we are outside the euro but with a government that is reasonably well disposed to it, we face no immediate threat. You have to ask yourself, if we had a government that said we are not going to join, whether that would change.”


FSA guidelines for endowments

The Financial Services Authority has ordered life offices to offer consumers a helping hand with endowment mortgages despite shunning a full-scale enquiry.IFAs may still face disciplinary action in specific cases, including endowment sales to those soon retiring, but the FSA has no plans to launch a major misselling enquiry.The regulator has agreed with the Association […]

Interest rate rise forecast

The continuing strength of the housing market may trigger the Bank of England to raise interest rates, according to experts.Net mortgage lending rose by £1.59bn in November, while the British Building Societies Association reported a £809m hike in mortgage advances by its members, compared with a rise of £671m the previous month. This suggests house […]

FSA warning on high-income funds

Investors have been issued a warning on high-income investment funds by the Financial Services Authority.The alert is the second in two weeks as the regulator said investors “should not be taken in by the headline income.”The caution follows an increase in demand for high-income investment products created in the current climate of low inflation and […]

CML ask to halt repossession chase

The Council of Mortgage Lenders is asking members to stop chasing repossession victims&#39 outstanding mortgage debts after six years.The move follows a recent report by the National Association of Citizens Advice Bureaux recommending a cut to the accepted limit of 12 years to pursue shortfalls, to a voluntary six week limit. Following the NACAB report […]


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