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FSA to launch independent review of Standard Life

The FSA is to commission a review by independent experts into the origins and implications of Standard Life&#39s problems.

It says it will also review the impact on policyholders of the measures proposed by the company during its present crisis and monitor “in the interests of policyholders” the decisions made by Standard Life following its strategic review.

In a statement release today the FSA says: “It will consider further, with the industry, possible developments of the FSA&#39s proposals for reserving against the cost of guarantees in policies by the use of modern financial risk evaluation techniques.

“There is a growing amount of practical experience with these techniques and it is important that the knowledge gained should be incorporated before the FSA&#39s rules in this area are finalised.”


Standard Life to consider demutualisation

Standard Life, Europe&#39s largest mutual, is to consider demutualisation as part of a strategic review of its business model. The life office has concluded its discussions with the FSA and says figures for its returns for the year to November 15, 2003 will show a 9.5 per cent increase in available assets of £4.6bn compared […]

Unipass bringing in charges for portals

Unipass is to introduce charges of up to £100,000 for IFA portals and product providers using its digital certificate system this year. Standards body Origo, which runs Unipass, is introducing the charges to cover future costs. Until now, providers have acted as sponsors for the system, paying £50,000 each annually to cover the running costs. […]

Tigue elected to AITC board

Jeremy Tigue has been elected to the Association of Investment Trust Companies board. Tigue is manager of foreign & colonial investment trust. Tigue replaces Ewen Macpherson who has retired by rotation in accordance with the AITC&#39s articles. The AITC has also re-elected Richard Burns, chief investment officer at Baillie Gifford & Co and investment trust […]

Correspondent&#39s week

I work from home. This means, many of you will assume accurately, reflecting my week, nothing more than converting big chunks of the TV Times into prose. This is a little harsh but, truth be told, I do generally watch a lot of daytime telly and this week was no exception. I do not want […]


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