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McCarthy warns of July 7 lessons

The FSA chairman has warned the financial industry to learn lessons from the 7 July London bombings and be fully prepared for future attacks.

Speaking at Mansion House earlier this week Sir Callum McCarthy urged businesses to ensure they have adequate back up arrangements.

He also said too much comment was guilty of “gross oversimplification” by assuming that regulation is inherently bad.


Equitable drops case against Ernst & Young

Equitable Life has dropped its 700m claim against its former auditors Ernst & Young.The case collapsed with Equitable agreeing to make a contribution to E&Y’s legal costs.In a letter to policyholders Equitable chairman Vanni Treves says its case, which cost the firm 30m to bring to the High Court, had been fatally undermined by the […]

ScotEq helps plant contracting-out tree

Scottish Equitable is working with the FSA to design a contracting-out decision tree. The complexity of the issue means few intermediaries are keen to advise on the issue. The move coincides with the Government Actuary’s Department making its recommendations for the level of contracted-out rebates for the next five years. The GAD has ignored FSA […]

SimplyBiz makes 950k profit

SimplyBiz has reached a pre-tax profit of 950,000 for the first six months of 2005, in less than three years. The support services provider says it is saving member firms over 10m in charges.SimplyBiz chairman Ken Davy says: To be able to announce that we have achieved a significant level of profitability during the first […]

Henry catchpole

As his beloved football team, Ipswich Town, battle it out for a chance to join the big boys in the Premiership next season, so Suffolk Life’s chief executive is relishing the prospect of captain- ing a niche player in the growing Sipp market from next April. James Phillipps finds he is confid- ent of helping 25,000 or more clients to achieve their goals


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