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OFT cracks down on debt management

The Office of Fair Trading has clamped down on the debt management sector by telling 196 firms that they face losing their consumer credit licences unless they take action to comply with its debt management guidance.

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FSA calls for firms to appoint complaints manager

The FSA wants firms to identify a senior individual responsible for complaints handling as it looks to drive up industry standards of dealing with complaints. The regulator is to publish a consultation paper today which looks at ways of ensuring that more firms resolve complaints promptly and fairly. Its proposals also look to encourage firms […]

N&P asks for more time over Lifemark complaints

Norwich & Peterborough Building Society has written to customers who were invested in Lifemark through Keydata asking them for three more weeks to deal with their complaints. N&P originally gave a deadline of the end of September to resolve the complaints but, according to The Mail on Sunday, the building society wrote to 189 customers […]

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It is regulation that is killing off the IFA species

Essentially, what Liberal Democrat Treasury spokesman Lord Newby is saying is that regulation is killing financial advice, which is true. I doubt that anyone will want to be an IFA in future unless business conditions improve significantly and we will eventually die out for all but the very rich. However, if the regulatory burden were […]

Clarkson Hill posts £48k pre-tax profit

Clarkson Hill has reported a pre-tax profit of £47,853 for the six months to June 30, 2010, a marked turnaround from the £178,379 pre-tax loss the company made last year. In its half-yearly report, which cites both audited and unaudited figures, the national IFA says the discussions with the FSA about the company’s regulatory capital […]

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