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Leaked email warns ABI firms over leaks

An email warning ABI members not to leak information on meetings with the Government has been leaked to Money Marketing.

Chairman of the ABI pensions savings strategy committee and head of pensions and savings policy at Axa Steve Folkard launched the attack on ABI members about a recent series of leaks.

He said: “I regret I need to write to you all to remind you of the importance of keeping certain matters confidential in our dealings via the ABI.

“We all need to exercise judgement in our dealings with the press and, clearly, the sharing of a conversation between the minister and ABI staff and members in such a public manner is not acceptable and does nothing to enhance our reputation.”

The email follows the leak of notes of a meeting between the ABI and pensions minister James Purnell on personal accounts and Money Marketing obtaining a copy of the ABI’s draft response to the FSA’s retail distribution review. This provoked outrage in the adviser community by calling for a ban on commission.

Informed Choice managing director Nick Bamford says: “These leaks clearly show there is a lack of consensus in the ABI membership and some members are not happy with some things that are being proposed.”

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