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Get tough on senior managers


Comment relating to online article, headlined, FSA fines HSBC £10.5m over misselling to elderly customers

Yet again, another bank gets fined in the millions, has even more millions to pay in compensation, this time for misselling to elderly, vulnerable people, and the FSA deem that to be enough.

When are the FSA going to get tough and take up criminal proceedings against the senior mana-gers in these organ-isations? Until they do, nothing will change. You can bet if it were a small IFA or smaller network, individuals would have been fined and banned from the industry.

Barry Woolley


Autumn of the euro

By the time you read this we will all know what the Chancellor has in store for us in the autumn statement. It is hard to imagine there will be much in the way of giveaways but attention is likely to be focused on any measures designed to improve the lot of our economic performance. […]


Aviva Downton Abbey campaign in breach of Ofcom rules

Aviva has breached media regulator Ofcom’s broadcasting code which says companies sponsoring programmes must not include advertising messages in their credits. The breach is in relation to two episodes of Downton Abbey, which were sponsored by Aviva Income Protection and aired on September 18 and 25, 2011. The rules, which were created as a result […]


Govt to close stamp duty loophole

The Treasury is to clamp down on people who attempt to avoid paying stamp duty on property transactions by setting up offshore companies in tax havens. Today, as part of the finance bill, Chancellor George Osborne is set to close a loophole which allows people to avoid paying the new 5 per cent rate of […]

Networks urged to scrap single-tie deals

Just Retirement is calling for networks to ditch planned single-tie annuity distribution deals with providers due to concerns that clients will not get the best deal. Director Steve Lowe says an increasing number of networks are in discussions with providers over possible single-tie arrangements as they look to boost their revenue ahead of the RDR. […]


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