View more on these topics

High street banks to answer to Competition Commission

The largest high street banks will have to answer to the Competition Commission over their small business practices.

A questionnaire has been sent out to the four largest banks Barclays, Lloyds TSB, HSBC and RBS owned NatWest asking them detailed queries about their dealings with small business.

The big four account for 83 per cent of all small business lending. Barclays and NatWest alone lend out 47 per cent.

The survey includes some 300 questions on all aspects of small business dating back 11 years, in an effort to include a full economic cycle.

The idea for the investigation sprouts from the Cruickshank Report on banking, which made its report in March. It suggested Britain&#39s banks were overcharging small businesses by up to £5bn a year.

At the same time, other high street banks have been summoned before the Commission in a series of closed sessions to talk about their services.

Recommended

Three top managers are leaving Sedgwick

National IFA Sedgwick Independent Financial Consultants is losing three key staff.Processing manager Giles Hope, head of research Bob Marriott and head of marketing Andrew Oliver are leaving. No replacements have yet been appointed and only Hope has confirmed his leaving date, which is at the end of September.Managing director John Dick says the departures are […]

Independence day for investors in the US

As the technology revolution changes UK financial services, the American experience may help IFAs in predicting the future. The US is at least five years ahead of the UK investment scene and history suggests we have more than a tendency to follow US trends.The American public are more financially aware than ever and streets ahead […]

Code board wants panel size revealed

The Mortgage Code Compliance Board is recommending brokers should disclose the size of their lending panels amid fears consumers are being misled over the rangeof lenders covered.The MCCB says brokers failing to disclose the size of their lender panels risk breaching their duty of care towards customers by misrepresenting their access to the market.It says […]

EMX plans to connect providers direct to employers

Autif&#39s fund trading platform EMX is exploring ways to diversify, with plans under discussion to use its software to connect product providers to employers.It says the move will allow providers to make substantial cost savings by relaying messages electronically, allowing them to conduct business within the stringent charging structure of stakeholder.EMX, the purchase, sales and […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com