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Ironing out the laundering rules

Beset as we are by the requirement to identify every client every time, which is a time-consuming irritation, it occurred to me that perhaps something positive could come out of it.

We all used to admit age on policies by sending copies of birth certificates, didn&#39t we, but now the spectre of Crown copyright has reared its head with the threat of fines, etc. In most cases, we would obtain a passport or photo driving licence for name identity. These documents cannot be obtained for UK citizens without a birth certificate and thus should be acceptable for age admission at the same time as ID.

Standard Life has confirmed it is happy with this and other companies also should be. Let us at least make a virtue out of a necessity.

David Inness Director, Medical Insurance Bureau, Newcastle-upon-Tyne


Building blocks

Do you think the recent mergers of Portman and Staffordshire building societies and the smaller Clay Cross and Derbyshire will spark off a flurry of consolidation for building societies?Webster: I think the news of these transactions means that some societies will need to answer questions that they will already have been asking of themselves.Specifically, this […]

Bank of Scotland wraps up triple fund deal

Bank of Scotland Investment Service is setting up a wrap account which offers HBOS customers access to funds from Schroders, Newton and UBS Asset Management.The service will be introduced on August 18 and will feature three funds from each of the firms, offering investors access to a range of growth, income and international funds.The bank […]

Out of context

•”You can&#39t print that, it&#39s the truth.” – Sofa managing director Brian Lawless about a nudist beach experience.•”We all sit around telling each other what to do and never getting anything done.” – Lawless again on life in the Sofa offices.•”I am glad you have been able to experience a little part of the world […]

A select gathering

The role of Parliamentary select committees has been brought into sharp focus in the past few days for the most appalling and tragic reasons.The death of Dr David Kelly still poses more questions than it answers but, for me, as someone who has followed the development of select committee practice in recent times, the political […]

Boosting our annuity strategies

Targeting annuity purchase in lifestyle strategies isn’t anything new but we’ve just lifted the bonnet and injected an enhancement shot into the end-point of these solutions. The recent volatility has shot short-term volatility into equity markets and painted a very turbulent backdrop but we’re also equally faced with a stressed fixed interest environment. This can […]


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