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FSA should redefine misselling says Sandler

The FSA has been called upon to clarify its definition of misselling by the Sandler Review in a bid to cut the costs of compliance. The review team believes that the industry incurs costs because it has no clear definition of what constitutes misselling. Review chief Sandler says that this is a common complaint from practitioners.

The review document says: “The Review believes it would be helpful if there were greater clarity about what constitutes misselling. Whilst this would not provide the industry with total certainty of what is or is not acceptable practice it would help eliminate costly unnecessary activities.”

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Red Light Runners races for EIS cash

Red Light Runners is an enterprise investment scheme (EIS) that aims to raise up to £8m to finance an Anglo-American film called Red Light Runners. Unlike some EIS schemes that invest in films, the production of Red Light Runners will be a crime film for the mass market in the UK and US, rather than […]

Employees to be compelled to join schemes

Employers should be allowed to make membership of their pension scheme a compulsory condition of employment according to the Pickering.The Pickering report says this provision should include traditional final salary and money purchase occupational schemes, stakeholder, personal pensions and group personal pensions.However the employer will only be able to make membership compulsory if it is […]

Ambrose McGinn

Under the stewardship of Ambrose McGinn, Abbey National intermediary services are going to be booted into the 21st Century. McGinn, the new director for sales and marketing across the Abbey group, is relishing lacing up his Dr Martens to do the job justice.The 42-year-old claims he is unhampered by industry doctrine. His background in commercial […]

Don&#39t take your eye off the business ball

The reform of UK financial services, a process we confidently predict will never end in the working lifetime of most IFAs, continues apace this week as Sandler and Pickering publish their views.IFAs are set to suffer collateral damage in the cause of getting the great “unsaved” to put some money away and will take some […]

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Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.

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