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FSA&#39s hotline bids to blow whistle on misleading ads

A hotline has been set up by the FSA for the public and company staff to report in strict confidence on misleading advertisements for financial products.

It is asking the industry to inform on firms which break the rules by not being clear about the risks as well as the benefits of an investment and making unrealistic claims in advertisements. The FSA has set up a new department to monitor advertising and is forming a specialist team which will visit firms to help ensure their systems and controls comply.

In the past year, the FSA has dealt with 580 advertising-related cases with 359 different firms.

Financial organisations spent £683m in 2003 on advertising in newspapers and TV.

FSA spokeswoman Jackie Blyth says: “We are asking IFAs and firms to use the hotline for them to protect the reputation of their industry and gain business from those who are prepared to break the rules to gain an unfair advantage.”


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In praise of bella Italia

What an interesting letter from Julian Stevens about the EU. He raises some points which I very much agree with. For instance, why can&#39t UK insurance companies insure British people living in Europe, with the honourable exception of Friends Provident, but then you can&#39t get the normal contracts? Surely it cannot be beyond them to […]

Norwich Union increases equity release rates

Norwich Union is increasing the rates on its lifetime mortgage by 0.2 per cent. The interest rate will increase to 7.19 per cent for business introduced through IFAs and to 7.49 per cent for direct business. The new rates will be effective on loans completed on and after 2 August 2004. Norwich Union Personal Finance […]

Beware of the dog

The spate of mergers and acquisitions in the IFA sector has slowed in recent months. This is not surprising as there has been a general lull in completed deals and most of the big players made their strategic moves for the post-depolarisation world some time ago. However, with depolarisation around the corner and new business […]


Five ways to make your employee focus group session a success

by Debra Corey, group reward director  You just planned and booked what you thought was the perfect vacation for you and your family. You call everyone together to share the great news and instead of receiving sounds of glee and delight, you receive groans and complaints.Your youngest says: “I hate beaches, didn’t you know that?” (You think to […]


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