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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As the outlook for the UK’s economy remains uncertain, how can advisers prepare portfolios for any change in inflation? As higher inflation fails to appear on the horizon and wages grow faster than expected, fund managers are weighing up their portfolio moves for any potential changes in the economy. The UK consumer prices index rose […]
IFA directors Kevin and Cheryl Neal have been banned from being company directors by the Insolvency Service for six and four years, respectively. The married couple ran the now-defunct Hertfordshire-based Kevin Neal Associates Wealth Management. They were disqualified for taking assets from an insolvent company. The firm had been incorporated to take over the business interests […]
Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]