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Out of Context

OOC Carr

“Kevin is the Shane MacGowan of protection.”

Lighthouse Services IFA Richard Mahony on Protection Review chief executive Kevin Carr at a drinking session. 

“The man from the Pru still exists except now he is Asian and a woman.”

Prudential deputy chief executive Barry O’Dwyer explaining how the firm is shedding sales staff in the UK but growing in Asia.

“I’m pretty sure journalists are still members of the human race.”

IFDS group executive David Moffat confirms an MM hack can attend a public conference.

“It’s a bit windy here – that’s an occupational hazard at my age.”

Association of Mortgage Intermediaries chief executive Robert Sinclair explains the background noise while on the phone to an MM hack.

“If the FCA judged a boxing match it would insist the boxer representing the broker had his hands tied behind his back and had to stand still so that the boxer representing claims management companies could punch them with no fear of getting hit back.”

Insurance & Mortgage Services director Terry Broom on the state of regulation.


Govt could face big losses on Help to Buy, MPs warn

<!– <!– <!– <!– –> –> –> –> The Treasury select committee has slammed the Government’s Help to Buy mortgage indemnity guarantee, warning it could cause taxpayers significant losses and may not help first-time buyers or boost house building. The TSC’s Budget 2013 report, published last week, expressed concern that the Treasury will have an […]

Eight charged with landbanking fraud

 The Financial Conduct Authority has charged eight men with landbanking fraud and carrying out a regulated activity without authorisation. The offences relate to the period between August 2008 and November 2011 and arise out of Operation Cotton, an FCA investigation into landbanking firms. Scott Crawley, Daniel Forsyth, Ross Peters, Aaron Petrou, Ricky Mitchie, Dale Walker, […]


MM leader: Consultancy charging takes another hit

The outlook for consultancy charging did not look good before last week’s announcement by HMRC and it looks even less healthy now. Many advisers had assumed the decision about charging VAT was based on whether the service was purely advice or the intermediation and arrangement of a pension scheme. HMRC disabused them of this notion […]


Advisers in rethink on consultancy charges

Legal & General says some advisers are rethinking consultancy charging agreements with employers due to concerns about the impact the fees could have on low earners and those who are close to retirement. Consultancy charging was designed by the FSA to allow corporate advisers to charge employees’ pension pots for advice given to their employer. […]


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