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FCA claims there is no issue with mortgage prisoners

Despite broker claims, the FCA says the Mortgage Market Review has not locked out borrowers from certain parts of the market. Yesterday the regulator published two papers: a feedback statement on its call for input on competition in the market and the findings of its responsible lending review post-MMR. In the responsible lending paper, it […]

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Transact eyes platform tech firm Object Mastery

The board of wrap platform Transact is considering acquiring Object Mastery, the Australian firm that developed its platform software, Money Marketing can reveal. Object Mastery, founded in 1992 and based in Melbourne, is owned by Michael Howard, who holds a 29 per cent stake in Transact. Transact chief executive Ian Taylor says: “I can confirm […]

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Leader: Double standards from the FCA on robo-advice

In order to properly discuss the threat or opportunity that robo-advice poses, we have to set aside the notion that is anything to do with advice in the purest, regulatory definition sense of the word. Many of these online tools and services are about signposting consumers to default funds, recommended buy lists, or perhaps multi-asset […]

Govt paves way for Lloyds share sale as it banks £130m dividend

The Government has announced shares in Lloyds Banking Group could be made available to the public by next March. Chancellor George Osborne announced in January  the proposed discount share sale of Lloyds would be delayed amid market turbulence. But in a statement released yesterday, Treasury economic secretary Harriett Baldwin says the Government is still committed to […]

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