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FSA welcomes N2+2 review outcome

The FSA says it welcomes the publication of the Government’s review of the Financial Services and Markets Act announced today by the Financial Secretary to the Treasury.

FSA chairman Callum McCarthy says: “The review picks up on the business priorities we have set for ourselves, and the three key outcomes they are designed to deliver promoting financial markets which are efficient, orderly and fair; helping retail customers achieve a fair deal; and making the FSA itself a more efficient and effective organisation.”

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Provider investment in advisers only on commercial basis – FSA

The FSA has clarified that product provider investment in an advisory firm must be on commercial terms.The regulator says that if a provider invests in an advisory firm, whether by loans, investment or otherwise, it must be on commercial terms which are objectively comparable to those on which an independent person unconnected to a provider […]

Halifax lobbies for property tax reform

Halifax is to lobby all three main political parties for changes in property taxation, especially inheritance tax and stamp duty, in the run up to the next General Election.General manager government relations Shane O’Riordain says: “Change is long overdue. Successive governments, irrespective of their political colouring, have not played fair with homeowners. This policy needs […]

Prestbury commission deal with papers

Prestbury has agreed a commission-share arrangement with The Times and The Sunday Times. The deal will see the newspapers’ life insurance arms paid as an introducer appointed representative for the intermediary. As part of the arrangement, the papers will carry joint branded ads which refer readers to Prestbury’s call centre.

New 2 year fixed rates from Platform

Platform, the intermediary lender of Britannia Building Society is developing its “one” product range with the addition of five new, compeitively prices 2 year fixed non-confirming products.These products are specifically designed for the non-conforming market and are available across the whole sub prime range of products:Minor adverse at 5.99 per cent, 90 per cent maximum […]

The Downsizing Delusion: Why relying exclusively on your home to fund your retirement may end in tears

By Steve Webb, director of policy The British obsession with homeownership can have dangerous consequences. A recent survey by Barings¹ found that up to three million people of working age were planning to rely wholly on the value of their home to fund their retirement. We are not talking about people investing in buy-to-let or […]

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