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Penrose sets June date for review completion

Lord Penrose has reaffirmed his commitment to completing his review of the Equitable Life debacle by June so that ministers can make a decision as to whether to publish it before Parliament rises in July.

In a letter written to Treasury select committee chairman John McFall, Penrose conceded it was a tight deadline to meet and admitted that the inquiry has taken much longer than he originally estimated.

He said he is keen to return to his duties as a High Court judge as soon as possible.

The letter cites the litigation between Ernst & Young and Equitable as one of the main reasons for delay as both sides have insisted that any evidence they give to Penrose&#39s inquiry first be cleared by their lawyers.

Penrose said: “Clearly, I cannot and would not cut corners that would damage the authority and usefulness of my report but no one is more keen than I am that this inquiry should soon be brought to its conclusion.”


Microsoft plans UK version of platform

Microsoft UK is planning a UK version of its US financial services platform MSN Money Professional, which allows IFAs to manage all their client information in one place. Announcing the move at the conference in Manchester this week, Microsoft says it will also enable investors to view and manage their entire portfolio online.

Renewal rebate from Chartwell

Investors with Chartwell Investment Management are to get a cash boost this month with the company rebating half of its renewal commission. Chartwell clients or investors who transfer Isas, Peps or unit trusts to the company free of charge get the renewal rebate every March and September. Information packs on the cashback plan can be […]

Message in a bottle

Cheers to Accord Mortgages, the new intermediary lending branch of Yorkshire Bank – it certainly knows its target market.Mortgage intermediaries are not known for their sobriety so Accord&#39s launch party prize of a year&#39s supply of vodka seems spot on. The prize will be given for the winner of a vodka taste test, perish the […]


“No. Because I am going to leave that to Aifa,of which I am a member.”Dhiraj Shah, Glebe Portman & Co“No. I have just done the Cemap exam and it just seems there is one thing after another. I don&#39t think anything I do will make any difference to what they decide.”Marcus Orpen, Mountbatten Financial“No. We […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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