The FSA says it has no intention of making product providers regulate intermediaries through the back door via treating customers fairly.In a letter to the Council of Mortgage Lenders, FSA managing director of retail markets Clive Briault says the FSA does not wants to redefine the roles and responsibilities of lenders and intermediaries. Accord Mortgages managing director Linda Will feared that lenders were being given more responsibility to monitor advice and claimed this could force lenders to look towards direct channels. Briault says: “Our TCF work has not sought to change res-ponsibilities of producer and distributor firms. In essence, producers are responsible for ensuring a product is fit for purpose, and distributors are responsible for the quality of the information and the advice they give to customers.”
Back in 1994, having trawled the City for openings in investment management, I found myself having a pre-finals interview with Tim Cockerill at Whitechurch Securities. From the glamour of the Square Mile, with a degree in financial services from the aptly named University of WOE (West of England), I started work as an investment analyst […]
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British workers and senior managers at UK companies are calling for the compulsory inclusion of all employee benefits, including company pensions, within job adverts, according to a new study from Axa.
The Association of Finance Brokers has been formally established to represent secured-loan advisers. It will become part of Aifa and will be a sister trade body of the Association of Mortgage Intermediaries. The announcement comes two months after the AMI and the Corporation of Finance Brokers’ published their plans to form a joint organ- isation. […]
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The government is boosting its income from inheritance tax bills because advisers may have failed to communicate the full advantages of new exemptions. Speaking at a seminar yesterday morning, Prudential senior technical manager Graeme Robb pointed to the rise people affected by the increase in the residence nil rate band to £1m for married couples […]
National advice firm Foster Denovo has poached former Towry M&A head Henna Fry to lead its acquisition strategy. Fry played a leading role in the sale of Towry to Tilney Bestinvest before leaving her role in 2016 to become an independent consultant. She will take on the newly created role of head of corporate development […]
The Financial Ombudsman Service has appointed Money and Mental Health Policy Institute vice chair Richard Lloyd to lead an independent review into its complaints handling process. The former Which? executive director has been charged with producing a report into FOS’ practices after a Channel 4 documentary earlier this year suggested a number of failures at […]