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Industry trade bodies discuss merger

The new director general of the ABI is planning a radical shake up of the financial services industry trade bodies according to a report in today&#39s Daily Telegraph.

The ABI&#39s Mary Francis aims to forge a three way merger creating a &#39super trade body,&#39 which will consist of the ABI, Autif and the British Bankers Association.

The Telegraph reports that senior executives from the three organisations have discussed the possibility of a merger, as a way of giving them greater influence in Government circles.

The concept behind the plan is that the larger financial services groups are currently represented in each area covered by the trade bodies.

Therefore a single body would form a more effective pressure group to get their views across to the regulators and Government.


Financial Services Ombudsman Scheme appoints chief operating officer

The Financial Services Ombudsman Scheme Board has appointed Ian Marshall as its chief operating officer.Marshall&#39s responsibilities will include the integration of the eight financial service ombudsman schemes.The integration is expected to be completed by the second quarter of year 2000.He will also be responsible for the FSOS&#39s information technology, human resources and finance and will […]

Clerical Medical launches on-line ready-reckoner for pension transfers

Clerical Medical has launched a ready-reckoner facility on its website for IFAs to calculate the critical yield on potential pension scheme transfers.The on-line calculator allows IFAs to work out whether it is worth transferring a client&#39s existing pension benefits to another pensions provider.The calculator provides the IFA a critical yield figure within seven minutes.It is […]

ABI warns of dark events on August 11

The Association of British Insurers is warning August 11 the day of the solar eclipse may be a dark day in more ways than one.The Association says criminals are likely to exploit the opportunity of unoccupied homes in Devon and Cornwall and target them for burglaries.The ABI is warning people to make sure their homes […]

Building Societies toast victory

Building societies are toasting victory in the wake of a Treasury Select Committee report which could dramatically increase the strength of the mutual sector and prevent further conversions.The committee&#39s demutualisation report is recommending the 1986 Building Societies Act should be amended to increase the number of borrowers required to push through a conversion vote to […]

DB transfers – one more factor to consider

Jim Grant – Senior Product Insight & Technical Support Analyst We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from final salary schemes to personal pensions. This is a […]


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