View more on these topics

Jenkins wins select support

The Treasury select committee has backed the Chancellor’s appointment of former Investment Management Association chairman Robert Jenkins as an external member of the interim Financial Policy Committee.

The Chancellor made the appointment in July and the select committee approved the decision after a hearing with Jenkins last week.

The interim FPC has been established to prepare the ground ahead of the creation of the FPC as the body responsible for stability of the financial system.

Jenkins is one of four external members of the committee who will sit alongside six members from the Bank of England, as well as Financial Conduct Authority chief executive Martin Wheatley and a non-voting Treasury representative.

Jenkins was IMA chairman from May 2007 to December 2009. He previously worked at F&C Asset Management where he was chief executive and then chairman.
The select committee says: “We are satisfied Mr Jenkins has the professional competence, commitment and personal independence to be an external member of the interim FPC.”

Axxis Financial Planning director Owen Wintersgill says: “The FPC make-up is heavily skewed toward banks. Consumers or advisers are not represented there, which is a shame. Today’s financial products are so complex and inter-related that a good understanding of the industry is essential.”



Mutually exclusive

Permanent interest-bearing shares offer a great opportunity for income with the backing of proven strength


Pearl Group looks to offload DB liabilities with cash incentives

Insurance giant Phoenix Group is trying to offload a big chunk of its defined-benefit pension liabilities with two controversial de-risking exercises. The move comes despite repeated warnings from pensions minister Steve Webb (pictured) about firms offering incentives to move staff out of defined-benefit schemes. This week’s Money Marketing reveals the closed life provider has sent […]

Scheme pension: IFAs in state of purgatory

The Government has been accused of leaving IFAs and pension providers in “a state of purgatory” after an amendment to the Pensions Bill reclassified scheme pension arrangements as defined benefits. Last week, Money Marketing revealed the amendment risked killing off the market for scheme pension by forcing them to comply with DB funding regulations.This would […]

SJP reports £800m inflows in Q3

St James’s Place has reported net inflows of £800m during the third quarter of 2011, despite funds under management shrinking by 8 per cent to £26.7bn. In its interim statement for the three months to September 30, the company reported a 14 per cent rise in total single investments from £1.1bn to £1.3 bn. David […]

Tax avoidance (the fight goes on)

In recent times, we have witnessed high-profile celebrities and sports stars make the headlines for potential tax liabilities on ‘failed’ tax avoidance schemes. We are now used to reading about these individuals, but what about those who advise on such schemes? Read more


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm