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FSA to look into short selling

FSA chairman Howard Davies has announced that the regulator is to consult on the controversial practice of short selling in early October.

Short selling, the practice of selling shares that you do not own, has been blamed for contributing to the slide in the markets.

Speaking in Manchester this morning, Davies said: “I should make it clear that we see no case for any outright ban on short selling, a practice which we judge a necessary and desirable underpinning to the liquidity of the London market. However, this is not to argue that UK practice must be left exactly as it is. We will bring forward proposals in early October.”


LIA says advisers would do better under DPS

IFAs would do better under the FSA&#39s defined-payment system than under Ron Sandler&#39s proposals for the remuneration of advisers, claims the LIA.Under Sandler&#39s plans, advisers would negotiate payment with clients, a process the LIA does not believe IFAs are prepared for.Director of public affairs John Ellis says that under the DP system, IFAs can still […]

Gainful employment

Last week, I rounded off the calculation process for gains made under offshore funds and great it was, too. But, re-reading my explanation, it occurred to me that there is a simple alternative that will lead you to determining the gain made under an offshore roll-up fund.This comparatively simple rule-of-thumb method is to multiply the […]

Peak practice

The average life of a mortgage has fallen from seven years in 1996 to just four, according to the Institute of Actuaries. In the sub-prime market, the average is less than two years.This means that even when the property boom begins to subside, IFAs and lenders will continue to face strong demand from borrowers for […]

N&P appoints marketing man

Norwich & Peterborough has announced an appointment to its board as Mike Hounsell joins the building society as marketing and sales director.Most recently, Hounsell has worked for Broadband communications player NTL as chief marketing officer. Prior to that he worked for American Express UK, where he was responsible for product and brand marketing.N&P chairman Keith […]


DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]


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