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Life offices must inform investors of TEP market from September

Life offices will be forced to inform investors surrendering their endowment policies that they may be able to obtain a higher price by selling on the traded market from September 1.

The move follows years of lobbying from market makers, which claimed investors were effectively being ripped off as most had little idea they could do anything other than redeem their policies with their providers.

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Only current clients&#39 ID needed to meet laundering rules

IFAs will only have to get identification of current clients and not revisit their entire book as had been feared when the money-laundering regulations are extended this autumn. A compliance officer with a big national IFA says he has been assured by the FSA that it does not plan to force advisers to go through […]

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