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N&P waits for ruling on Tessa pricing

Norwich & Peterborough says it is still waiting for the High Court&#39s judgement on the judicial review it is seeking against the Financial Ombudsman&#39s ruling on its Tessa pricing. It had hoped for a decision last week but the High Court reserved its judgement indefinitely without providing a reason. The complaint against N&P concerns a customer unhappy about mini cash Isa holders being paid more interest than he was receiving on his Tessa select account. N&P says it will pay compensation totalling £1.3m if the judgement goes against it.

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DWS targets Europe

Deutsche Asset Management, which is rebranding as DWS Investments, has introduced the DWS European opportunities fund.The fund, along with the recently created DWS UK opportunities fund, is a higher-risk, addition to the Oeics in the company’s existing range. It aims for capital growth by investing in a concentrated portfolio of 25 European stocks, excluding the […]

Clerical in stake return

Clerical Medical is set to make a return to the group stakeholder market on the back of the systems it bought from Equitable Life last year.The company had been forced into a retreat from the market in August last year following a backlog at its admin centre in Bristol. The company said it hoped to […]

Poor&#39s enters Fof market in link-up with Schroders

Ratings agency Standard & Poor&#39s is entering the multi-manager market through an exclusive agreement with Schroders to offer IFAs and financial institutions a global funds of funds service.In a major departure from its core business, S&P is reass-essing funds that it has already rated to create a panel of recommended products for which Schroders will […]

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Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 

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