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FSA warns IFAs on pension review

The FSA is warning that it will look closely at firms that fall behind in settling personal pension review cases.

The warning comes as the FSA says evidence shows progress is slowing down in some firms, although half of the phase two cases have now been settled and £2.7bn paid in redress.

FSA director of the pensions review Philip Robinson says: “Despite the overall steady progress we are beginning to see sings of some firms – small IFAs – slipping behind. We will not tolerate any lessening of effort and those firms who are currently foot-dragging will find the regulator paying them close attention.”


Seeing the light

In the latest Money Marketing June With-Profits Focus survey of mortgageendowment shortfalls, several life offices refused to disclose whatpercentage of their reprojection letters were red, green or amber. Shouldthey be forced to make these figures public? Batchelor: As this type of mortgage repayment vehicle has taken a backseat in recent times, with most consumers electing […]

Get down to business in the battle for balance

The time has come for the industry to make the case for business. This is not some wishy-washy phrase which might be used by any ofBritain&#39s three centrist political parties but a call for an essentialchange in attitude at the top of the FSA and the Treasury. Currently, there are only two publicly expressed motives […]

Loan firms&#39 fury at panel claims of biased advice

The Financial Services Consumer Panel has clashed with the mortgageindustry for claiming that new FSA rules will stamp out “faulty anddownright biased” loan advice. Speaking at last week&#39s Council of Mortgage Lenders regulation conferencein Birmingham, panel chairman Colin Brown said FSA proposals would helpborrowers detect advice skewed by commission bias. He said the panel was […]

The Mortgage Operation – Life Cover Plan

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