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Kafka quits Fidelity for Stock Exchange

Fidelity&#39s executive director Paul Kafka is joining the London Stock Exchange as director of corporate communications and public policy in August. He is being replaced by Joerg Moberg, who joined Fidelity in 1999 as director of corporate communications in Frankfurt before becoming director of IFA sales in Germany in 2001.

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Chelsea Building Society – Two-Year Fixed Rate

Fixed term: Until August 1, 2006 Fixed rate: 4.94% Minimum loan: £25,000 Maximum loan: Up to 95% of valuation subject to a maximum of £350,000 Income multiples: Up to 95% of valuation &#45 up to 3.5 times principal income plus second or 2.75 times joint, up to 90% of valuation &#45 up to 90% of […]

Industry responds to FSA&#39s report

The industry has largely endorsed the FSA&#39s update report “Building Financial Capability in the UK”. The ABI has confirmed its dedication to improving people&#39s financial knowledge and IMA says aiding people&#39s understanding in investment is key to this strategy. The AITC is also supportive of the FSA&#39s financial education strategy but warns that adequate resources […]

&#39Parliamentary watchdog is best chance of redress&#39

Equitable Life is increasing pressure on the Parliamentary Ombudsman for a fresh investigation into maladministration by the Government in the period before the FSA took over regulation of the industry. Chairman Vanni Treves told policyholders at the AGM that Parliamentary Ombudsman Ann Abraham is the best chance of compensation because she is not required to […]

Aifa&#39s view

There are two European directives which potentially affect IFAs in the area of PI. The insurance mediation directive and the markets in financial instruments directive. The IMD covers insurance business and the Mifid covers investment advice. The IMD requires all intermediaries to have cover of euro1.5 million from January next year. The text is inflexible […]

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