The General Insurance Standards Council is appealing against last week's Competition Commission's decision that its proposed rule forcing intermediaries to join up breaches the Competition Act. The GISC board is asking the Director General of Fair Trading to exempt it from the Act. It will seek the support of the Government and consumer bodies and consult with the industry. In the meantime GISC says it will continue to provide consumer protection as a voluntary regulatory body and its members are free to deal with non-GISC intermediaries.
Schroders Unit Trusts is to launch a structured growth product designed to give capital protection and linked to the Eurostoxx 50 index. Schroders believes the product will be attractive to nervous investors. Capital is 100 per cent protected. Returns are linked to average growth in the Euro-stoxx 50 over five years. The Dublin-based product is […]
Financial services recruitment consultant 20-20 Search and Selection is opening a new office near Norwich. Nigel Borrett, formerly of Seekers Recruitment, will head up the office.Borrett says: “We are capitalising on the buoyancy and changes in the market. It is imperative for both clients and candidates for a national operation to have representation in East […]
The General Insurance Standards Council is appealing against last week's decision by the Competition Commission that its proposed rule forcing intermediaries to join up breaches the Competition Act. The GISC board is asking the Director General of Fair Trading to exempt it from the Act. It will seek the support of the Government and consumer […]
The FSA has accepted that consumers want past performance information in advertisements, in its response to recommendations made by a task force it set up to look into the issue.The FSA says it will introduce new rules to make sure that past performance is not the main message in advertisements and will consult further on […]
The manager of the Artemis Strategic Assets Fund explains why he is holding onto his (expensive) bond shorts and unusually is keen to buy equities.
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The merger between adviser trade body Apfa and the Wealth Management Association cost the WMA more than £61,000, accounts show. The two trade bodies merged earlier this year to create the Personal Investment Management and Financial Advice Association, a move that was supported unanimously in a vote from Apfa members. Accounts released today show that […]
Six in ten advisers want to see the lifetime allowance scrapped at the Budget this week, a new survey has shown. The poll points to an increasing dissatisfaction amongst IFAs that the £1m limit discourages saving. While the allowance will rise in line with CPI inflation from April 2018, some argue this does not go […]
Royal Bank of Scotland has joined rivals like HSBC in launching an automated investment advice service for more than five million customers. The bank claims to be the first bank in the UK to launch a “fully regulated” robo-advice service, which will be under its NatWest brand. The service, live from Monday, is targeted at […]