View more on these topics

FSA warns over broker’s sale and rentback business

The FSA has warned consumers that sole trader Mark Ainley may have advised clients into sale and rentback contracts without having the correct authorisation to do so.

It says it has been informed that Ainley, trading as Mark Anthony Financial Management, has entered into a number of sale and rentback agreements and has acted outside the scope of the part IV permission.

It urges any clients who have entered into such contracts with him or those who may be on the point of doing so to contact the FSA urgently.

The FSA says Ainley, who trades from London House, 77 High Street, Sevenoaks, Kent TN13 1LD, is authorised and regulated, but adds: “He has never been permitted to arrange, enter into or administer sale and rentback agreements.”

In June, the FSA ended its interim regime to regulate the sale and rentback sector and brought in full regulation of the sector. The measures it brought in included a ban on exploitative advertising and high-pressure sales techniques, the prohibition of emotive terms such as “fast sale”, “mortgage rescue” and “cash quickly” in promotional literature and a ban on cold-calling or dropping promotional leaflets through letterboxes. It also introduced sec-urity of tenure for sale and rentback customers for a minimum of five years.


Fair Investment in Omo tie up with Annuity Team

Fair Investment Company has partnered with The Annuity Team to offer its customers a new open market option annuity service. Customers can now choose enhanced and standard annuities through The Annuity Team service or income drawdown through the Fair Investment Advisory Service. Head of investment and pensions research George Ladds says: “When looking to buy […]


N&P chief defends Keydata advice

Norwich and Peterborough Building Society chief executive Matthew Bullock has defended the advice given by his staff which saw around 3,100 customers invested in Keydata, following this week’s Financial Ombudsman Service decision. Earlier this week, the Financial Ombudsman Service ruled that N&P must payout a claim for £28,000 relating to its sale of a Keydata […]


Inflation remains above 3%

Inflation remained above 3 per cent in July, forcing the governor of the Bank of England to write to George Osborne for the third time this year. According to the Office of National Statistics, the Consumer Price Index dropped to 3.1 per cent, down from 3.2 per cent in June but still more than 1 […]


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