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IFA fined for pensions review failings

The PIA has fined IFA EIC Investment Services Limited of Marchmont House, 83-85 Marlowes, Hemel Hempstead, Hertfordshire £10,000 for pensions review failings.

The firm has also been ordered to pay the regulator&#39s costs of £2,126. A visit by the PIA in May 1999 identified a series of regulatory failings including not completing corrective action promptly, not assessing its starting population, not maintaining adequate records of its pensions business and failing to conduct adequate compliance assessments.

This is the 16th time this year the PIA has taken disciplinary action related to the pensions review.


Bank of England cuts rate to 4.75 per cent

The Bank of England has cut interest rates by 0.25 per cent to 4.75 per cent, following yesterday&#39s 0.5 per cent cuts by the US Federal Reserve and the European Central Bank.The cut was made desite inflation rising 0.4 per cent last month to 2.6 per cent, just above the Government&#39s target rate of 2.5 […]

Principality continues fixed rate surge

Principality Building Society is continuing to fix its mortgage rates with the introduction of the three-year fixed-rate mortgage.The mortgage has a fixed rate of 5.89 per cent until November 30, 2004 and is available for loans of up to 95 per cent of valuation for new homebuyers. People looking to remortgage are restricted to loans […]

Take the medicine

With NHS waiting lists at over one million there is a lot of consumer interest in private medical insurance, particularly among the corporate sector.Although individual PMI sales are down by 5 per cent since 1997, corporate sales have increased by 1.2 per cent, according to analysts Laing & Buisson. The research shows that since 1990 […]

ScotLife to sponsor pay-per-view football broadcasts

Scottish Life has signed an exclusive deal with Sky Premiership Plus to sponsor the digital channel&#39s pay-per-view coverage of Premier League football.From this week, Scot Life will sponsor all 40 live games each season on Sky Premiership Plus until 2004. It will then review the contract.In a move which marks the first time that top-flight […]


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