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Mifid costs are set to hit £1bn

The FSA says the one-off costs of implementing Mifid could reach £1bn, with ongoing costs of £100m a year. It estimates the benefits could generate £200m a year mainly from a reduction in compliance and transaction costs.

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Widows Bank reviews release after losing Saga deal

Scottish Widows Bank is reviewing its equity-release business model after losing an exclusive deal to supply Saga.Saga has signed up with Just Retirement’s multi-tie arm Just Retirement Solutions but Widows will be on JRS’s Saga panel, which started operating this week.Widows says the major factor behind losing the £40m Saga deal is because Saga wants […]

Unconvinced by ZAN’s proposition

Having read the report on De Montfort Chase’s battle with Zurich Advice Network, I see little grounds for sympathy (Money Marketing, November 23). A few years back, I was visited by the flamboyant Simon Chamberlain, who tried hard to persuade us that selling into ZAN would be a good thing for us. I realised fairly […]

Boxing unclever

Whenever I meet IFAs, after the initial pleasantries, I almost always find myself having to defend the views expressed in this column. The consensus seems to be that I am unduly negative about IFAs and the good work they do.Chris Kenny, the Association of British Insurers’ director of life and pensions, is really rather a […]

Professional priority

The financial services business should take the opportunity presented by the FSA’s principle-based regime to raise standards and the CII can help to lead the way, says John Ellis, group public affairs director at the Chartered Insurance Institute

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