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Menu costs will be passed back to consumer- Which

Consumer group Which has slammed depolarisation as an expensive waste of time for customers. Which senior policy adviser Mick McAteer says the costs of bringing in the menu, which the FSA now estimates will at 28m a year for tied firms and 13m for independent firms, will inevitably be passed back to the customer.
McAteer says: “I can still see no real benefit from this for the customer. All I can see is additional cost. I struggle to understand the way the FSA have implemented this. They have gone about this in a clumsy way.”

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Bid for Liontrust fails

Talks over the sale of Liontrust Asset Management have fallen through. The “tentative, management-initiated” approach for the company made on November 5 was terminated after it became clear that an agreement would not be struck within a reasonable timescale. A statement to the Stock Exchange says senior management are committed to the business and customers […]

Loan firms predicting demise of packagers

A large number of packaging operations will disappear in the new regulated environment as transparency measures expose what they are earning, warn mortgage intermediaries.

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