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General insurance


Adviser wins court case against  PPI claims chaser

Tessa Norman

Highclere Financial Services has been awarded £340 through the small claims court after contesting a payment protection insurance misselling claim from a claims management firm.

Claims firm Aims Reclaim wrote to Highclere in April, alleging the firm had missold a client PPI. It stated seven reasons why the policy was missold, including “your sales person did not tell our client that the policy was optional”. Alan Lakey, a partner at Highclere, had never arranged PPI and the client in question said she had not made a claim against him to Aims Reclaim. Mr Lakey invoiced the firm £100 for wasting his time and, when Aims Reclaim refused to pay, he took legal action.

Aims Reclaim was forced to pay Mr Lakey £100 for wasting his time and a further £240.20 in legal costs after a hearing on 9 October at Accrington Crown Court. The judge found Aims Reclaim owed Mr Lakey a duty of care in establishing whether a PPI policy existed before alleging it was missold.



FCA warns over fund liquidity promises

The promises that asset managers make to retail investors about daily liquidity are causing concern to regulators. FCA wholesale firms manager Tony Hanlon warned last week that asset managers may not be able to meet the redemption requests of investors.  Speaking at the FCA annual asset management conference in London, he said: “One of our […]


Who has topped the latest Platforum AUA table?

Cofunds continues top the Platforum’s latest assets under administration with £58.27bn at the end of Q3. The L&G owned platforms announced today it had passed the £60bn AUA mark. FundsNetwork stood at £45.87bn, Skandia at £27.45bn and Standard Life at £18.12bn at the end of September. Cofunds saw the largest increase, adding £4.5bn. FundsNetwork added […]

Govt will end ‘rigid requirement’ for quarterly company results

The Government will end the “rigid requirement” for listed companies to publish quarterly results in a bid to end short-termism in fund management. In its response to the Business, Innovation and Skills select committee inquiry into economist John Kay’s review of equity markets and long-term thinking, published this week, the Government says greater flexibility can improve […]


FCA seeks to ban and fine IFA £10k over Ucis advice

The FCA is seeking to ban and fine a financial adviser for giving poor investment advice. The regulator is seeking to fine Clive Rosier, the sole approved person and director at Bayliss & Co Financial Services, £10,000. Rosier has referred the matter to the Upper Tribunal, which will make a final decision on the case. […]

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EEF/Jelf Employee Benefits Sickness Absence Survey 2015

EEF stated in its 2015 EEF Manifesto that the UK’s growth prospects depend on people being fit, working and productive. Keeping people in work and helping people return to work is very important for the manufacturing sector. It means boosting productivity by getting people back into work as early as is possible, as well as fostering workplace cultures and environments that proactively manage individuals’ health conditions so that all can benefit from lower sickness absence outcomes.


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