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Northern Rock investors to start law suit

Northern Rock’s biggest shareholders are expected to start legal action against the Government and the regulators this week.

SRM Global and RAB Capital, which own around 20 per cent of the lender, are believed to be getting ready to launch their law suit, which could see Chancellor Alistair Darling and Bank of England governor Mervyn King being singled out.

SRM chief executive Jon Wood said at the weekend that it was “expecting to file legal action by the end of the week.”

He added: “We haven’t decided whether to name individuals though we certainly plan to call them as witnesses.”


FSA aims ads at borrowers

The FSA is running a £2m advertising campaign to help the 1.4 million mortgage borrowers whose fixed rates are coming to an end this year.

Aifa applauds money guidance

The Association of Independent Financial Advisers has welcomed the Thoresen Review and says money guidance presents an opportunity to educate consumers about their financial needs.Director general Chris Cummings says the industry and government must work together to engage consumers and encourage them to consider their long-term financial well-being.He says: “A better educated public will then […]

Lifesearch and ABI in spat over stats

Lifesearch has criticised claims by Association of British Insurers head of protection Nick Kirwan that publishing critical-illness claim statistics may have done more harm than good to the industry.In an email to the ABI, life offices and reinsurers, Lifesearch head of protection strategy Kevin Carr says: “The ABI recently stated that if it could turn […]


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