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It&#39s the punters who will pay

The FSA&#39s contribution to chaos and the obliteration of the world&#39s forests has continued undaunted.

What is our regulator up to? As Howard Davies has already had to accept a cut in bonuses for the failings of the FSA under his stewardship, he seems to be determined to recoup this loss and more by engineering his own demise.

A golden goodbye, the likes of which we have already witnessed in our perceived cash-rich industry, is bound to be on the cards for this visionary yesterday&#39s man. Hindsight is a wonderful thing but someone should tell Sir Howard that it does not mean revisiting the past. It wasn&#39t that wonderful, Sir Howard.

Of one thing I am certain. This industry has been kicked in the sphericals by more skilled operators than Sir H and not only survived but metamorphosed into an even trickier entity. Sadly, it is the punters who will eventually inherit the whirlwind and this makes me really mad.

Why should my clients of the last 32 years be disadvantaged as a result of decreasing returns caused by increasing costs, regulatory burdens and financial chaos created by a regulator that is not worthy of the name or position?

Buck Lopez

Capital Financial Services,


East Sussex


Any payment method suits me

As an adviser who charges fees and takes commission (invar-iably partially rebated), I really do not care how I am paid as long as it is sufficient (in my view) for the work undertaken. I get irritated by providers manipulating their charging and remuneration structures to suit those who are coy about how much they […]

Only 13% planning to remortgage

Only 13 per cent of homeowners are planning to rem-ortgage this year, according to Legal & General&#39s latest Moving Intentions survey.The survey says this figure is not as high as expected considering the historically low level of interest rates and presents an opportunity for IFAs to encourage borrowers to remortgage to save money on the […]

UK chief leaves Gartmore

Gartmore head of UK retail Michael Wrobel has left the firm as part of a top-level management restructure.Wrobel, who had been at Gartmore for seven years, will be replaced by NatWest Private Banking managing director Paul Feeney. Before working at NatWest, Feeney was global marketing director for the Coutts Group.Gartmore has appointed two more directors […]

Property prime time is over with 5% rise forecast

Residential property will only increase in value by 5 per cent this year, almost two-thirds less than 2001&#39s 14 per cent growth, says broker FPD Savills.Its latest research bulletin claims weaker economic growth, falling employment and slower increases in household income are acting as drags on house prices, but it predicts increases of 7 per […]

US loan growth is not painting a pretty picture for the US economy

Written by Mike Riddell One of the current big debates in global financial markets is whether investors should believe ‘hard’ rather than ‘soft’ data, where the usually reliable business and consumer surveys have been suggesting strengthening in global growth momentum for some time now, while the economic data that feeds through into the Gross Domestic […]


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