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No crisis says Standard

Standard Life says it is in no financial difficulty and that discussions
with the FSA over new solvency requirements are not crisis talks.

Responding to newspaper reports that its spare capital is likely to fall
to £2.5bn from £6bn under new reporting rules to come in next year,
the life office says it expects later this month to announce a free asset
ratio close to the 19.5 per cent announced in results published last

Standard Life director of corporate affairs Gordon Arthur says: “Crisis
talks bear no relation at all to the discussions we have had with the
FSA over the last few weeks. Is Standard Life in difficulty? The answer
is no.”


Stonebanks nears target

A second attack against Standard Life&#39s mutual status looks imminent with carpetbagger David Stonebanks announcing he has collected 1506 request forms to hold a special general meeting to vote on demutualisation. Stonebanks has written to company secretary Marcia Campbell saying he expects to meet his target of 2000 forms within a month. He believes holding […]

Sesame determined to build the leading multi-tie panel

Sesame has pledged to assemble the best multi-tie panel in the marketplace after depolarisation, saying it will have failed its members if it does not achieve its aim.Speaking to Money Marketing, Sesame commercial director Martin Davis says the introduction of multi-ties into the distribution framework is a perfect opportunity to address some of the fundamental […]

Why menu is a positive move

It may seem like a long time ago but cast your mind back to CP121, CP166 and remember that the outcome following Aifa&#39s recommendations was the agreement to explore the concept of regulated distributors providing clients with a clearly defined menu of services which would be adopted under the FSA.The menu would identify which sales […]

Saturn winging in to calm the PI storm

With Capricorn rising in the new moon I foresee a number of dramatic interplanetary changes in 2004. Thursdays will be especially lucky next year for no particular reason.Saturn will move in to the Seventh House, offering stability and security to journalists who can feel confident they will eventually recover from the endless December boozing.A look […]


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