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Johnson hits back at Tory tactics

Treasury economic secretary Melanie Johnson has responded to efforts by

the Conservatives to warn IFAs about the harm the FSA could cause.

As reported exclusively in Money Marketing two weeks ago, the Tories have

sent a letter to every constituency office, urging them to warn local IFAs

about the dangers in the Financial Services and Markets Bill.

Johnson has written a letter to Money Marketing complaining about

“scaremongering” by Tory MPs Andrew Tyrie and Howard Flight.

Her letter claims the bill, which underpins the FSA, goes a long way to

providing the structure necessary to reinstil consumer confidence in

financial services. Johnson concludes: “The bill is a major step forward

for the industry. It is too important to be treated as a political


l Johnson letter, p9;

Comment, p29

Inside every edition of Money Marketing this week is a 52-page supplement

honouring the victors of the Money Marketing Financial Services Awards,

based on an independent survey of 1,000 IFAs and 350 broker consultants


Accelerator loan sales tumble

Sales of accelerator mort- gages have plummeted since the Mortgage CodeCompliance Board claimed a year ago they were too expensive.Accelerator mortgages encourage customers to pay off their loans earlywith extra annual payments but borrowers can be hit with having to paythousands of pounds in fees.Since the MCCB made its claims in a report a year […]

Clerical offers stake support

City of London workers will soon get the chance to strap themselves tohorizontal poles and play human table football on a giant inflatable pitch.Save the Children is hosting its annual tournament to raise money atBroadgate Arena in the City of London between June 12 and 16. Once again,the charity is inviting City companies to enter […]

IFAP&#39s future is in the balance as Martyn quits

The future of IFA Promotion is in doubt after this week&#39s resignation ofmanaging director Ann-Marie Martyn.A split is developing, with some of the 12-member board pushing for amerger with trade association Aifa in the belief there should be one IFAorganisation. A merger could see IFAP drop its lobbying role to concentrateon generating enquiries for IFAs.Chairman […]

HSBC Enterprise Fund reaches milestone

HSBC&#39s UK Enterprise Fund has invested in its 200th small business and is half way to achieving its eventual goal of 400 smaller businesses.The milestone was reached as the bank put £250,000 into MMI, a technology management company based in Cambridge.HSBC head of innovation and growth unit David Gill says: “I anticipate spending my time […]


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