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FSA probes 500 mortgage firms over KFIs

The FSA is asking 500 mortgage intermediaries how they use key facts illustrations in a move to cut the regulatory burden and extend KFIs to investment products.

It is conducting research among firms to find out what type of key facts information is being used in the sales process. At the same time, it has drawn up a four-page document that investment intermediaries could use.

The move is part of the FSA’s “less is more attitude”.

AMI director Chris Cum-mings says that the FSA wants to see if there is a black hole in its supervision of KFIs because it does not have a clear picture as to whether intermediaries are producing their own documents or using documents from sourcing systems.

Cummings says: “The questionnaire will hopefully give a better picture of how intermediaries are using KFIs.”


Laurie Edmans joins Pension Regulator board

Aegon director of corporate development Laurie Edmans has been appointed as a non executive director of The Pensions Regulator. The appointment was announced by Secretary of State for Work and Pensions Alan Johnson.Edmans is the sole representative from a pensions provider on the new non-executive board of five directors, which also includes Mercers partner Alan […]

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I am a member of my employer’s pension scheme and will have completed 20 years’ service by retirement in August 2008. Do I need to make any arrangements to take into account the new legislation in 2006?

Powerful estate planning tools ignored or forgotten by wealthy Brits

Canada Life IHT Survey 2016 Only a quarter of wealthy Brits have sought professional estate planning advice to ensure their families don’t pay more tax than required More than a quarter don’t even have a will and just one in five have gifted money Many say they do not need these tools but families would […]


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