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Opra Publishes New Guidance for Whistleblowers

Opra has published a new guidance for voluntary whistleblowers on reporting to the regulator, following consultation with the industry.
Opra note 6 – the power to report problems to Opra – is intended to help non-statutory reporters decide whether or not to report a breach of law and identify risks to scheme assets and members&#39 benefits.
This is based on the Opra traffic light system of reporting where legal breaches are classified as either red, amber or green.
A series of roadshow events will be held in Birmingham, London and Edinburgh on May 19, 25 and 28.


Product matters

There are products that make headlines and there are good-value products. Only rarely are these the same. Unfortunately, West Bromwich Building Society&#39s Brum Brum mortgage fits squarely into this presumption. This is one of those products that is full of gimmicks and short on value. The Brum Brum in question is an MG Rover 25. […]

Pension edge

With a perfect storm of events – a litany of misselling scandals and stockmarket volatility – it is not surprising consumers are reluctant to commit to insurance company pensions for 30 to 35 years. This is true when the Government expects pension portfolios to grow at about 6 per cent a year before charges over […]

Going round in circles on endowments

With regards to the endowment scandal, our authorities do seem to be going round in circles on this issue. As I understand it, the FSA are responsible for the general contents of the so-called new-style review letters. However, they unfortunately contain insufficient information to enable the planholders to make any form of valued decision and […]

Annuity rethink on money purchase

Trustees of occupational money-purchase schemes will be forced to offer members access to the open market for annuity purchase when the simplified pensions regime takes effect in April 2006. Currently, many members lose out when trustees take annuities away from the pension provider, denying some scheme members access to improved rates from other providers because […]


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