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MPs set to attack endowment bosses – reports

Reports today claim that the Treasury&#39s report into restoring confidence in long term savings: endowment mortgages, to be published on Thursday, will be one of the strongest attacks ever made on the the financial services industry.

The reports say that directors will be told by the Treasury Committee that their 72 per cent pay rises are unjustified, and that policyholders should have been warned about their financial position between five and ten years ago.

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Tsk, tsk, bottom of the class. The Diary can only speculate as to whether the quiz team of a downmarket rival knew what the acronym Isa stands for at the Penrose financial services publishing quiz in the City of London last week. The Diary&#39s team would have gone to commiserate the rag&#39s bottom placing if […]

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Industry culture cultivated misselling

The Financial Services Consumer Panel is agreeing with the Treasury Select committee that there needs to be cultural change within the financial services industry to avoid future misselling problems similar to the endowments crisis it has recently reviewed. The committee has suggested culture change requires a fundamental movement in the current system of commission-based fees […]

The Merchants Trust PLC – April 2017

Welcome to the latest update for The Merchants Trust PLC from the Trust’s portfolio manager, Simon Gergel. Portfolio Review The Merchants Trust reported results this month and the directors were pleased to announce a 35th consecutive year of dividend growth (subject to shareholder approval at the AGM). The Company is proud to be highlighted as […]

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