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Parliamentary group castigate Tiner

FSA managing director John Tiner received a grilling from a group of MPs last week at a meeting where he was told Parliament did not approve of the regulator&#39s plans for polarisation.

At a meeting between Tiner and MPs and Lords of the all-party Insurance and Financial Services Group, he was told the proposals in CP 121 show the FSA does not understand the difference in terms of agency law between an IFA and a tied agent.

The parliamentarians said they agree with the measures to introduce gap-filling, but that this move should not destroy the basis of how IFAs operate.


Mortgage Express five-year fixed

Mortgage Express five-year fixed Type: FixedFixed term: Until 3 June 2007Fixed rate: 6.49%Minimum loan: £40,000Maximum loan: £500,000 up to 50% LTV, 90% LTV up to £250,000Income multiples: 3.25 principal plus 1 or 2.75 x joint (employed); 3.5 x principal plus 1 or 2.75 x joint (self-employed)Arrangement fee: £325Redemption fee: Six month&#39s interest at underlying variable […]

L&G roll out third protected portfolio

Legal & General has introduced the third issue of protected portfolio, a capital protected Isa that has a five-year term.Protected portfolio III is linked to a portfolio of 30 stocks that are taken from the largest companies in the UK. These include companies like GlaxoSmithKline, Next, Dixons, Reuters and Vodafone.The return investors receive is based […]

Inside edge: Tony Kempster

So, how does a life company get to be market leader in the IFA market?We have seen product providers come and go but some seem to go on forever. Standard Life, for example, have created an awesome franchise in the IFA market over many decades. It puts me in mind of a story from Cambridge. […]

L&G takes steps in bid to boost with-profits bonds

Legal & General is offering a step-by-step guide to with-profits bonds in to boost the popularity of the investment among the public.The guide, which has been awarded a crystal mark by the Plain English Campaign, covers areas such as the history of with-profits bonds, what they are and what they aim to achieve.It explains what […]

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


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