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Opra issues MFR guidance

Opra has issued guidance on how the minimum funding requirement regulations will be handled until its abolition by the Treasury as announced in March&#39s budget.

The Government plans to replace the funding test with a new regime and the details from Opra will serve as an interim measure until that regime is complete.

The guidance will look at issues arising from the impending abolition as well as the regulator&#39s experience in dealing with the MFR since its creation four years ago.


Julian Gibbs

There is still a huge amount of long-term investment money deposited withbuilding societies – far in excess of what investors need to coveremergencies. The problem for investors is that interest rates have fallendramatically, with most banks and building societies paying less than 5 percent gross on most of their accounts and as low as 1.1 […]

Positive move on corporate strategy

IFA network Positive Solutions has appointed international investment bankNM Rothschild & Sons to advise on corporate strategy. Positive Solutionssays the move comes at a time when it is confident of achieving itsambition to become a major force among networks. It has 350 RIs and aprojected turnover of £15m for the current year.

Opra forms on defaults could not be clearer

I read with interest the article in the July 12 edition of Money Marketingheadlined, Life offices slam Opra on multi default funds. The article states that: “…the regulator has allowed some providersto offer more than one default fund on stakeholder schemes although manyproviders had believed they were only allowed to register onedefault fund.” Friends Provident […]

Royal London ordered to pay £15m and fined £400,000

Royal London has been fined £400,000 by the PIA and ordered to pay £15m compensation to 65,000 customers for breaches relating to the sale of investment products.As a result of the disciplinary action, Royal London is conducting a review of the past sales of its full product range including endowments, whole of life policies and […]

How to use wills to protect your clients’ wishes

March was Free Wills Month! Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their simple wills written or updated free of charge by using participating solicitors in selected locations around England and Wales. Research by the Law Society* highlighted that only 64 […]


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