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Missing the points

Adair Turner&#39s report sent politicians from right and left into a panic last week. Bombarded by numbers, the Conser-vative Party found itself at sixes and sevens over pension policy.

The Diary hears David Willett&#39s first version of the Conservatives eight-point action plan was in fact a 10-step road to recovery.

The Diary wonders what happened to the other two points over the weekend and whether they have merely been mislaid.


Abbey shareholders vote for Santander takeover

Abbey has got the go-ahead for a takeover by Spain&#39s biggest bank Banco Santander Central Hispano despite a stormy shareholders&#39 meeting last week. The support of major shareholders brought 94.6 per cent backing for the takeover, based on share value but, counting one vote per shareholder, only 64.8 per cent approved the deal. Deutsche Bank […]

Friendly approach

Appointed by the Treasury following the Penrose report on Equitable Life, Paul Myners is charged with reviewing the corporate governance of life mutuals. The Association of Friendly Societies has responded positively to the Myners consultation paper but it believes that certain issues still need to be discussed further. The history of friendly societies goes back […]

Smee ends speculation over ABI role

Outgoing Aifa director general Paul Smee has ruled himself out of the running for the role of director general at the Association of British Insurers. Smee announced in September that he will be stepping down from Aifa and joining the Association for Payment Clearing Services as chief executive in December. He says he is committed […]

IFAs are getting the message as Emx expands

Emx is expanding rapidly into the IFA life and pension markets and has signed up over 30 companies to its electronic transaction service this year. The latest big provider names to sign up include Abbey Wrap, GE Pensions, James Hay, Winterthur Life, Zurich and Allied Dunbar. A number of IFAs, including Positive Solutions, Duncan Lawrie […]


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