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Mortgage and Protection advice to be regulated

The Government has bowed to industry pressure and handed the FSA responsibility for the regulation of mortgage advice and general insurance broking.

FSA chairman Howard Davies says the regulator will be consulting with the industry about the new regime after admitting the proposed system would impose extra burdens and costs on smaller firms.

Davies says the FSA will also consult on the timetable for implementation of the new regimes and plans for them to come into force simultaneously.


Skandia committed to independent advice, says Wilson

Skandia says its decision to bid for Bankhall fits with its belief in independent financial advice, and says it believes the deal works equally well in a polarised or depolarised sales environment.Skandia executive vice president and managing director of IFA Services Alan Wilson says: “Skandia has consistently championed the cause of independent financial advice. There […]

L&G offers second round of protection

Legal & General is building on the theme of capital protection with the introduction of the second tranche of its protected portfolio. Protected portfolio II has a five and a half year term, which is six months longer than the previous edition. It is linked to a portfolio of 30 stocks that are taken from […]


£1.7m buys NU stake in Inter-Alliance

Norwich Union has continued its spree of buying stakes in IFA firms by taking a 4.7 per cent share in Inter-Alliance for £1.7m.The life company confirms it is in discussions with other IFAs and says it only takes stakes in listed companies.Norwich Union has spent £12m so far buying up shares in IFAs and has […]

Decision saves Government embarassment says Boulger

The Government’s decision to regulate general insurance neatly solves the embarrassment over General Insurance Standards Council, says mortgage expert Ray Boulger.The status of the body set up to self regulate the general insurance market had suffered a blow after a successful legal challenge to its requirement for all intermediaries selling general insurance to submit to […]


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