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.
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 […]
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 […]
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 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 […]
The Swiss Re Group is a major reinsurer in the group risk market in the UK. As such, their Group Watch 2015 report is a useful indicator as to the current state of play in the area of employer sponsored group life, group income protection, and group critical illness markets.
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Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]
Building on auto-enrolment’s success and fine tuning the pensions dashboard are high on the list As I write my first Money Marketing column of the year, it has given me an opportunity to look back on what the Government has done to transform pensions and savings for people since 2010. Five years on from the […]