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FSA receives 5,580 registrations for authorisation

The FSA has today revealed that by the end of April, it had received 15,046 registrations to obtain an application pack and 5,580 applications for authorisation.

8,675 registrations were from insurance businesses and 6,371 for mortgages.

Out of those that have already applied for authorisation, 3,684 were mortgage firms and 1,896 were general insurance firms.

So far the FSA has given authorisation to 1,135 firms to carry out mortgage or general insurance business.

Of these 806 were mortgage firms and 329 were general insurance.


Sun sets on Newton

Newton Investment Management has announced that Asian equity fund manager Ezra Sun is to leave only a month after star fund manager Clive Beagles departed. The fund house insists the two departures are unrelated but IFAs have expressed concern about the timing. However, they say Newton can justifiably claim that Sun&#39s loss is less of […]

Folkard warning of Govt pressure on pension IFAs

UK consumers could face a wave of misselling from foreign financial services providers right under the FSA&#39s nose, a member of the Financial Services Practitioner&#39s Panel has warned. IFA Thomson&#39s Group chief executive and panel member Douglas Gardner says the implementation of the Investment Services Directive in January will allow firms from other EU countries […]

Davy dismissive of FSA &#39plot&#39 to oust small IFAs

DBS and SimplyBiz founder Ken Davy has hit out at Scottish Widows&#39 claim that the FSA is using the professional indemnity insurance crisis to push IFAs into consolidation. Widows chief executive Archie Kane told Money Marketing last week that he believes the FSA is pushing IFAs towards consolidation by increasing the regulatory burden and through […]

AIG extends multi-manager Fof range

AIG Life is extending its multi-manager fund of funds range with a new managed income fund. The fund will provide an income-oriented portfolio with a gross yield in the range of 1-2 per cent over the base rate. The fund&#39s assets will be in a combination of externally managed funds from AIG&#39s range in the […]


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