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John Tiner to take part in Tory review of regulation

Former FSA chief executive John Tiner is a member of an independent review body which has been commissioned by the Tories to look into regulation in the UK.

The review will be led by former head of the Government’s Better Regulation task force Sir David Arculus and will look into where the current regulatory system goes wrong and how it could work better to provide people with both protection as well as the freedom to innovate and excel.

Shadow secretary of state for business Alan Duncan says: “After ten years of Labour, British business is groaning under the weight of an excessive state whose first instinct is to reach for the rulebook and regulate.

“Not only is this mentality frustrating and expensive for businesses, it is also beginning to affect our competitiveness. We need a thorough intellectual overhaul of what has become a very stale area of policy.”


With-profits bolsters Pru business figures

Prudential’s UK business figures were flat last year at £897m compared with £900m in 2006.Retail sales rose by 4 per cent, from £688m to £715m, driven by strong growth in individual annuities, corporate pensions, with-profits bonds and lifetime mortgages.Pru says the business figures are in line with 2006 because the 2006 figure included £63m of […]

Product matters

It is a life product, so it does have to cope with cumbersome pension rules. It combines an offshore bond of at least 10 years, with a 20-year purchased life annuity, so it is pretty tax-efficient.The contract’s real difference is allocation of birthday units, which are paid from the redistribution of investment funds held by […]

Govt could be found guilty of pensions misselling by Court of Appeal tomorrow

The Government could be found guilty of misselling company pensions tomorrow when the Court of Appeal announces its verdict. The 125,000 workers who lost their occupational pensions when their company schemes were wound up will find out whether the Court of Appeal confirms their Judicial Review victory against the Government.Alternatively, the Court of Appeal may […]

Alliance Trust appoints new head of distribution

Alliance Trust has appointed Edward Troughton as managing director of asset management distribution.He will help to develop a new UK asset management business – Alliance Trust Asset Management – and will lead the distribution of products and services for ATAM and manage client relationships.Troughton has a 21 year career in investment and joins Alliance Trust […]

Graphic Content – August

Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month’s Graphic Content. The Graphic Content below shows us that young and middle-aged workers were hit the hardest by the Great Recession and have never caught up. Since the job market started to recover […]


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