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PIA expels Central Financial Services

The PIA has expelled Central Financial Services of 281 High Street North, Manor Park, London. The regulator says the firm failed to disclose relevant information to the PIA and supplied inaccurate information on a mortgage application form. The sole principal&#39s application for individual registration was refused by the PIA membership committee. The firm had been served an intervention notice issued on September 4 suspending it from conducting investment business.

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Treasury to allow Friendly Societies to own subsidiaries

Treasury economic secretary Patricia Hewitt has announced plans to allow Friendly Societies to own subsidiaries.The Government has proposed changes to the 1992 Friendly Societies Act to put its plans into effect.Hewitt says: “Friendly Societies carry out invaluable work by encouraging saving, especially by those of modest means. The movement has asked for the restrictions to […]

National Savings receives thousands of inquiries about pensioners bond

National Savings says it has already received thousands of inquiries about its new two year pensioners guaranteed income bond.The bond goes on sale on 2 June.National Savings chief executive Peter Bureau says:”We are delighted to be able to offer savers more choice in the way they want to save.”

Scottish Life appoints business development manager

Scottish Life has appointed Ian Buchan as its business development manager.His main role will be the development of new third party administration business at Scottish Life.He was formerly a consultant at Punter Southall & Co. He has also worked at Buck Consultants and Scottish Provident.

Building Societies trailing banks on instant access rates

Building Societies are trailing banks in terms of rates offered on Instant Access and No Notice accounts according to the Research Department.TRD analysed the top 20 accounts and found that only 2 were provided by building societies with 13 provided by banks.

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