View more on these topics

FSA says simple sales regime could cover whole range

The simple Sandler sales regime could be introduced across the range of financial services, says the FSA.

Speaking at the select committee last week, FSA chairman Callum McCar-thy told MPs that if the current testing of the simple sales regime on Sandler-style products proves successful, the FSA will look at whether it should be introduced across the range of financial services products.

MP Nigel Beard asked if it would be possible to separate advice from the sales process so that the same person is not doing both jobs but McCarthy said this would result in a substantial cost increase.

The Sandler review sta-ted in 2002 that a need could be filled in the UK market with a series of safer and easier to understand financial products which would be subject to a streamlined or simple style of sales regulation.

Product providers say they are still unsure if the 1.5 per cent price cap will enable them to sell stakeholder products profitably.

McCarthy said: “We are currently testing on Sandler. If this is successful, then we will look at introducing it across the range.”



Manor Park – Guaranteed UK Selected Growth September 2004

Type:Guaranteed growth bond Aim:Growth linked to the performance of the FTSE 100 index Minimum investment:Lump sum £5,000 Investment split:100% linked to the FTSE 100 index Place of registration:Guernsey Term:Three years Return:Choice of 210%, 160%, 110% or 60% growth in index at end of term Guarantee:Choice of 85%, 90%, 95% or 100% of original capital returned […]

Special sits star Hargreave to run Aim VCT for Keydata

Keydata Investment Services is offering a venture capital trust later this year under the stewardship of Giles Hargreave, star manager of the Marlborough special situations fund. The VCT will launch in September with a provisional maximum subscription of £30m. The product is Key-data&#39s first VCT and will invest in Aim-listed companies. Manager Hargreave has a […]

INSIDE EDGE: Peter Hales

At last, the Treasury has ann-ounced the outcome of the price cap for the Sandler suite of stakeholder products and the FSA has issued a consultation on a basic advice regime. There has been a wide range of responses from prov-iders as companies look at how the decisions will affect their business models. From a […]

GE Life claims drawdown plan offers potential IHT savings

GE Life is introducing a phased drawdown plan it claims can minimise potential inheritance tax liabilities. The product is aimed at clients who require income but not a one-off cash lump sum and would suit someone wanting to manage the transition from part-time employment to full retirement, says GE Life. The company says it will […]

Solving the income puzzle

There is a puzzle at the centre of financial markets. The global economy is growing, there are signs of inflation and interest rates are going up, yet yields remain low. In this article, James Foster, manager of the Artemis Monthly Distribution fund, unpicks this conundrum and looks at where investors can find income. There is […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm