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Hague in bid to alter stakeholder

Tory leader William Hague has tabled a House of Commons motion calling for

the annulment of the Government&#39s stakeholder pension regulations.

The move by the Conservatives is seen as the party&#39s last opportunity to

ensure its concerns about the proposals are raised. The Tories say because

of the way stakeholder has been introduced by the DSS, it will not undergo

the normal degree of Parliamentary scrutiny.

Under Parliamentary procedure, the only way the Tories can force a debate

on the matter is to call for its annulment. A party spokesman is quick to

make it clear that they do not advocate scrapping the proposals but believe

they need some serious rethinking.

The debate will be led by either pension spokeswomanJackie Lait or DSS

spokesman David Willets. The next day available for such a debate is next

Thursday and political observers say it is likely it will happen then.

Lait says: “This is our last opportunity to voice our concerns. We do not

have a problem with the concept of stakeholder but we do have problems with

the details.”


Aaron guide picks high-risk fundsto prosper

IFA David Aaron Partnership has published a guide recommending 20high-risk unit trusts it believes will come up trumps within five years.The 75-page guide highlights volatile funds the IFA believes will show“outstanding returns” over three to five years.Most of the trusts are off their highs.The trusts are from several sectors, including technology, the Far East,smaller companies […]

Reasons to be fearful

IFAs fear being hit with another increase in the admin burden followingFSA proposals for intermediaries to write “reasons why not” letters toclients if they do not recommend a stakeholder.IFAs and trade bodies are concerned this will set a dangerous precedentfor regulation of independent advice.But the FSA says the move could be necessary to protect intermediariesagainst […]

Top award for ScotProv

Scottish Provident won the business-to-business category in the recentMarketing Society Awards for its lifestyle insurance ad campaign aimed atindependent advisers.The company&#39s camp-aign featured a young Tony Blair, Jeffrey Archer, DavidBowie and Des Lynam.The company made a submission to the judging panel based on its life-styleprotection products, which offer insurance against death, long-term illnessand unemployment.ScotProv changed […]

Royal Bank of Scotland ready to sell sub-prime lender

A subsidiary of Royal Bank of Scotland is understood to have put its stakein sub-prime lender i group, formerly known as Ocwen, up for sale.Royal Bank of Scotland Development Capital owns 49 per cent of i groupshares which it is said to have offered without success to severalsub-prime lenders, believed to include Platform Home Loans […]


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