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NU and Friends Prov take 20 per cent of Tenet Group

Norwich Union and FriendsProvident are each taking a 10 per cent equity stake in the Tenet Group. In the transaction, both life companies have each invested £9.5m made up of shares and loans in the group which owns networks M& E and Interdependence.

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Field annuity bill wants clients told of all rates

Labour MP Frank Field has tabled a bill which aims to force annuity providers to supply policyholders with competitors&#39 rates when buying an annuity.It comes as the Government continues to hold highlevel talks with industry exp-erts about extending access and advice to annuities.The Treasury last week held a meeting with 25 industry figures, including representatives […]

Sandler will criticise FSA regs says Sunday Telegraph

Ron Sandler will conclude the cost of complying with complex FSA rules is a significant deterrent to saving through pensions, Isas and unit trusts according to the Sunday Telegraph.The final report of the Treasury commissioned Review of Medium and Long Term Savings will be published next month, says the newspaper, and will propose the creation […]

CIS claims victory as Stelios flies out

CIS is claiming the resignation of Easyjet chairman Stelios Haji-Ioannou as a victory for shareholder activism, saying it shows pension trustee legislation is unnecessary.Following the Myners rep-ort, the Government has suggested that pension trustees as well as fund managers should be legally bound to intervene in the running of companies they invest in.Haji-Ioannou stepped down […]

Fee-based advice will hit clients

It is a very sad day when, having practised for 33 years as an IFA and having done so without a fee being paid by our clients (without a murmur of discontent from a very large client bank), potential legislation is being suggested to force me arbitrarily to charge fees if I wish to retain […]

Tax avoidance (the fight goes on)

In recent times, we have witnessed high-profile celebrities and sports stars make the headlines for potential tax liabilities on ‘failed’ tax avoidance schemes. We are now used to reading about these individuals, but what about those who advise on such schemes? Read more

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