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FSA waters down trust proposals

The FSA has watered down its proposed rules for investment trusts
after consulting with the industry.
Subject to annual re-election, fund managers will be able to sit on
trust boards, trusts will be able to invest in funds of funds in much the
same way as before while proposed rules forcing trusts to disclose
their portfolios have been amended.
The initial plans, announced in January, were aimed at pre-empting
another &#39magic circle&#39 but were seen as overly tough.


Leeds & Holbeck – Buy to Let Fixed

Type: Fixed rate buy-to-let mortgage Fixed term: Until December 1, 2006 Fixed rate: 4.99% Minimum loan: £25,000 Maximum loan: Up to 75% of valuation subject to a maximum of £500,000 Income multiples: Up to 3.25 times principal income plus second, 2.5 times joint, or rental income must be at least 130% per cent of monthly […]

Pensions simplification not the answer says Bamford

Sofa chairman Nick Bamford believes pension simplification is not the answer and will only add another layer of complexity on top of what is already there. Speaking at the Chartered Insurance Institute conference in London, Bamford said that while simplification sounds good and is a positive goal, he does not believe it will work as […]

Apparently, Peter

Apparently, Peter Stringfellow&#39s current squeeze is none other than a former TMB employee, Lucy Carr, who took the career move from banking to lapdancing a few years ago.Lucy&#39s website tells us: “After working for a bank for four years, I craved a bit more excitement from life.” How can this be?The move seems to have […]

Pension saving warning for women – Altmann

The majority of women should not save in pensions even if there is an employer contribution, says independent consultant Dr Ros Altmann,Speaking at Money Marketing Live in Manchester today, Altmann said women were particularly hard hit by the disincentive to save caused by Pension Credit, which comes in next month. Altmann said: “The Pension Credit […]


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