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LibDem trade and industry spokesman

LibDem trade and industry spokesman Vincent Cable (above right) has

delivered a letter to Chancellor Gordon Brown asking him to explain the

delay in publication of the FSA report into its role in the Equitable Life

debacle. Accompanied by Equitable Life Members&#39 Action Group chairman Paul

Braithwaite (pictured left), Cable went to Downing Street this week.

The Treasury said in July that the report would not be published until

this autumn even though it was intended to be released in the summer.

Cable also questions the salaries of senior FSA staff, saying they are in

excess of comparable public servants. In the letter, he says Sir Howard

Davies earns a basic salary of £290,000 and his three deputies are

each paid £235,000. He says the public should know why regulators earn

so much but fail to protect consumers.


£50K fine for firm for review failings

The PIA has slapped a £50,000 fine on IFA City Assurance Consultantsof Wimbledon Hill Road, London for pension review failings. The firm, whichhas also been officially reprimanded and ordered to pay PIA costs of£4,000, is guilty of a number of failings identified in regulatoryvisits between January and August 2000.

Standard Life and Sterling Assurance join AssureWeb

Standard Life and Sterling Assurance are the latest insurers to offer an online new business service to IFAs through the AssureWeb internet trading platform.Standard Life&#39s Capital Investment Bond and Sterling&#39s Unit Linked Bond are now available over AssureWeb and intermediaries can complete business online from quotation to application to submission.AssureWeb now has nine product providers […]

Positive Solutions links with Exchange

Positive Solutions is incorporating a customised version of The Exchangeinto its extranet site as part of a deal to provide members with extratechnology services. Positive Solutions members will also have access toThe Exchange&#39s new mortgage sourcing service, which includes a PositiveSolutions mortgage panel and specialist mortgage helpdesk.

Business announcements less negative, says KPMG

The downturn in the UK economy may not be as bad as some analysts fear, according to figures compiled for KPMG by Mandis Information Services which shows fewer profit warnings being issued.Negative announcements across 21 sectors of the UK economy for the first six months of 2001 fell by 22 per cent compared to the […]

The death of retirement – a boost for protection?

According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20% of total wages, the statutory minimum for a new automatic […]


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