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Insurers turn their backs on equities – ONS

Ownership of British shares by life insurance companies has dipped to its lowest level since 1975 according to the latest data from the Office of National Statistics. The ONS figures show that in 2003 life insurers reduced their holdings in shares to 17.3 per cent of the £1,368bn market.

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Scotts fined by FSA

The FSA has fined Scotts Private Client Services Ltd £25,000 for serious failings which led to the firm introducing US $9.7m (£6.7m) of investors&#39 funds into an authorised and apparently unlawful investment scheme. Between December 2001 and October 2002 Scotts failed to carry out adequate due diligence and introduced 34 investors to an investment scheme […]

The pension paint pot

I want to refurbish my offices completely.I assume the fact that my pension scheme owns the building does not cause any problem? The fact that your pension scheme owns the building does not cause a problem. What will, however, are the terms of your lease. As your business is a connected party to your pension […]

IFP bids to win better PI deal for members

The Institute of Financial Planning is trying to get a better deal for its members on professional indemnity insurance. Chief executive Nick Cann believes his members, who are all certified financial planners, are lower-risk than other IFA businesses as they have good audit trails, are mainly fee-based, which is broadly perceived as being a more […]

Group 300 looks to sale or merger as it aims to raise up to £5m

Group 300 has opened the door to a sale or mer-ger as it looks for around £3m-£5m in external funding. Chief executive Chris Batten says the company is keen to develop to the next level and that there are two ways to do this – either with a simple equ-ity investment or through a merger […]

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