View more on these topics

FSA urges firms to read its guidance to prepare for change

The FSA says reading its guidance will save firms time and effort when preparing for regulatory changes.

The FSA launched tailored handbooks last year and personal and ‘focus on’ handbooks earlier this year to improve the accessibility of its rulebook and help firms comply with its rules.

The regulator says it will not bring disciplinary action against any firm that reasonably relies on them for compliance.

These handbooks have been designed to automatically filter out inapplicable material so that the remaining rules relevant to firms are quicker to find and easier to browse.

It says the web-based system should enable the industry to prepare more efficiently for forthcoming changes in 2007, including the Capital Requirements Directive and Markets in Financial Instruments Directive.

Most regulated firms can use tailored handbooks, smaller versions of the full Handbook, containing only the rules and guidance relevant to them. These have been produced for asset managers, fund managers, authorised professional firms, financial advisers, mortgage intermediaries, general insurance brokers and life insurers. The ‘focus on’ handbooks are topic specific and cover key areas such as appointed representatives, approved persons and financial crime. Firms can also build their own personal handbook containing only the rules specific to it by answering ten questions about its business.

Tailored, ‘focus on’ and personal handbooks are available free of charge on the FSA website <> .


Eurolife puts Nvesta up for sale

Eurolife Assurance Group, which went into administration in August, has confirmed it has put subsidiary Nvesta up for sale. Nvesta has around £120m held in structured products on its book.

Fastest house price rise in four years, says RICS

House prices rose for the eleventh consecutive month at the fastest pace in four years, according to RICS’ UK housing market survey.The report revealed that 45.1 per cent more chartered surveyors reported a rise than a fall in September, up from 34.9 per cent in August. RICS estate agents reported that price are rising because […]

New Star’s Whittaker keeps his bets on the table

New Star UK growth man- ager Stephen Whittaker remains bullish on online gaming stocks despite $5bn being wiped off the sector’s value last week after the US government banned internet gambling. He says he sold his stake in PartyGaming after last week’s crash because it had the biggest exposure to the US market but he […]

Alliance & Leicester launches offshore bond

Alliance & Leicester International has launched a one year fixed rate bond with a fixed interest rate of 5.5 per cent.Customers can deposit between £5,000 and £1m into the bond which matures on October 31 2007.Savers have a choice to have their interest paid on the maturity of the bond or on a monthly basis. […]

How QE is distorting the gilt market

By Mike Riddell The moves in gilts in August were truly exceptional. Volatility in the gilt market (based off 10-year gilt futures) has soared to close to the highest levels seen this millennium, on a par with the eurozone debt crisis of 2011/12 and behind only the global financial crisis of 2008/09. The first distortion […]


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