The Liberal Democrats say personal accounts are “fatally flawed” as long as mass means-testing remains part of the benefit system and suggest that for many individuals the scheme will be inappropriate and unfair.
Royal London executive director Brian Duffin has announced he will be leaving the Group at the end of March 2007 as part of a reorganisation of the business. The Group has created a new IFA division and appointed John Deane from Old Mutual who will join in April 2007. Deane will have overall responsibility for […]
The FSA has warned of the potential dangers for a ‘significant minority’ of consumers taking out interest-only mortgages without robust repayment strategies in place.The note of caution follows research conducted by the regulator to test how borrowers who have taken out such a mortgage intend to repay it and the extent to which these consumers […]
The compliance burden across the European Union has reached an estimated one trillion euros a year, according to the European Insurance and Reinsurance Federation.CER acting director general Eric Fischer says the increased compliance costs and bureaucracy – with more than 30 insurance-related legislative, regulatory and supervisory bodies at EU and international level – is putting […]
The Treasury is steering through reforms without considering where it is going
By Fiona Tait, Pensions Specialist The new State Pension (nSP) will be implemented at a maximum flat rate of £155.65 per week in 2016/17. This is good news for some, not so good for others. Women and the nSP I am a woman.1 However, this does not really affect my State Pension, largely because I […]
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Claims management companies must be more specific on separate permissions and competency when they under the remit of the FCA, according to HM Treasury. Under rules proposed in the Treasury’s latest consultation paper, claims management companies will operate under six sectors – housing disrepair, industrial injuries disablement benefit, personal industry, financial products and services, criminal […]
Knowing what assets each operator will accept and with what conditions is becoming increasingly difficult The recent well-publicised events concerning Sipp operator asset acceptance have focused the mind of a number of advisers. We have been fielding enquiries about our own Sipp and the asset classes we as a Sipp operator would consider. But this […]
Investment trust sales may come under pressure due to new EU rules, experts have warned. The potential benefits of gearing on investment trusts risk being overlooked as new cost reporting rules make them look more expensive compared with open-ended funds. Traditionally, closed-ended funds have looked attractive based on lower costs compared with other structures, as […]