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IFAs to provide details of Y2K arrangements

The PIA is demanding large IFAs that pose the greatest potential risk of Year 2000 failure provide details of their arrangements.

These firms have been asked to complete a Year 2000 Completion Statement which has to be signed by a firm&#39s senior executive officer, to confirm sufficient action has been taken to ensure business continues as usual after January 1 2000.

All firms will be required to notify the PIA if any problems occur with Y2K, irrespective of when the disruption occurs


Northern Rock to close 29 branches

Northern Rock is closing 29 of its 105 branches by the end of the year.The building society says 250 jobs will be lost from branches with declining business volumes, but expects to create jobs through the extension of internet and telephone banking.

Britannic in pension venture

Britannic Assurance is setting up a brand to sell retirement products.The life office is recruiting for the venture, which will be based in Redhill, Surrey. The products will be marketed under a new name and logo and are expected to be backed by a marketing campaignThe move comes despite a multi-million pound marketing campaign aimed […]

Internet Fraudbuster launched

Fraudbuster, an internet fraud screening application, has been launched by IT company TrustMarque.The company claims the system will reduce fraud risk on credit card purchases and e-commerce from 8 per cent to 1 per cent.Every credit card transaction is validated by a financial institution and further analysed by Fraudbuster. Once an order has been validated […]

Building societies bite back against carpetbaggers

Building societies will be given more teeth to fight off carpetbaggers under new regulations to be launched next month.The legislation will make it easier for mutuals to fight conversion to banks. In future, the number of members required to call a special general meeting will rise to 500 from 100. Candidates for the board will […]


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