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FSA warns about unauthorised firms

The FSA has put out a warning about two unauthorised firms that have been actively targeting UK investors in the last few months.

Firms trading under the name Jackson Cole and Smith Fairchild are not authorised and the FSA is warning investors that while these firms have not done anything illegal, caution is needed when dealing with unauthorised firms.

FSA director of enforcement Andrew Procter says: “Companies contacting you out of the blue at work or at home offering to sell or buy shares should be treated with care. Don&#39t be taken in by their glib promises of sky high profits or the fact that they appear to have UK phone numbers and addresses.

“Dealing with firms that are not authorised is a high-risk business as there are no complaints and compensation schemes to turn to if your deal turns sour. “


Wilful deprivation

Both my parents are in long-term care. Most of their assets are owned by my father so only he has to contribute to the cost of his care. While my mother is by no means fit and healthy, she could nonetheless live for many more years. My father, however, is in very poor health and […]

ABI says reforms will help customers to see the benefits of with-profits

The ABI says the FSA has adopted much of its proposals for with profits reform in CP207 published this week, and says life offices are not treating customers unfairly at the moment. The FSA proposals call for the introduction of the publishing of targets for payouts, the application of MVRs to be limited to cases […]

Dampier says IFAs slow to respond to downturn

Hargreaves Lansdown head of research Mark Dampier has warned that IFAs can take years to react to downturns in fund managers&#39 performance, in response to Fidelity&#39s suggestion that industry commentators are not representative of advisers&#39 views. In a letter to Money Marketing, Dampier says that he has repeatedly seen IFAs take as long as three […]

Smaller companies are switching over to GPPs

Group personal pensions are now the preferred type for firms employing up to 250 people, according to the latest Association of Consulting Actuaries survey. The survey looked at pension trends in firms employing 250 people or less and found that 90 per cent of these firms will have reviewed their pension scheme arrangements over the […]


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