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Julius and EU responsible for decision says FSA

The FSA says the decision to regulate mortgage advice is a result of a recommendation from Bank of England economist DeAnne Julius.

The move to regulate general insurance advice comes as a result of pressure from the European Union according to the regulator.

DeAnne Julius made a powerful case for mortgage advice to be regulated in her report on the lending market issued in the summer.

The Insurance Intermediaries Directive, currently making its way through the European Parliament, is set to require member states to regulate all aspects of insurance advice.


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Tuesday, December 18, 2001.Type: Investment-linked annuity.Minimum investment: £250,000.Minimum age: 50.Income frequency: Monthly, quarterly, half-yearly, annually.Charges: Initial 2.25 per cent, annual 1.5 per cent.Options: None.Commission: Initial 1 per cent, renewal 0.5 per cent.Tel: 01243 520020.

Cazalet says dash for distribution will intensify

Industry analyst Ned Cazelet says he expects competition for the remaining IFA channels to intensify over the coming months as a result of Skandia&#39s deal for Bankhall.Cazelet says he believes providers will move to secure distribution as quickly as possible as increasing numbers of major IFA firms get snapped up by companies fearful of changes […]

Group to seek ruling on DBS fee hike

Angry DBS members are forming an action group to challenge the network&#39s charge increases on the grounds that they are unfair.The DBS Action Group currently has the support of 60 member firms. It is looking to seek a court declaration that the price hike is unfair as it fundamentally changes the existing contract between DBS […]

Brokers welcome regulation decision

National mortgage brokers have given an overwhelming welcome to the decision to regulate mortgage advice.Charcol senior technical manager Ray Boulger says: “This is good news. The CML lender and larger brokers were all sending the same message that the key is to regulate advice. The Treasury initially misjudged the importance of advice and it is […]


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