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's 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.
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 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 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 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.
Research from Jelf Employee Benefits and retirement workshops specialist LaterLife Learning shows that one in two employers could offer their older workers greater remuneration flexibility so that they can benefit from the new Freedom of Pensions rules.
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FCA chief executive Andrew Bailey has used a speech at The Investment Association’s annual dinner to explain the regulator’s plans to make sure fees result in “sensible incentives” for fund managers. The regulator has put value for money in the spotlight with its Asset Management Market Study. The measures consulted on include getting more independent […]
Last week I was delighted to have the opportunity to talk about one of the most critical challenges for platforms over the next 5 to 10 years – whichhow do they need to evolve? And by ‘need’ – we frankly mean what’s required if platforms are genuinely to meet the needs of intermediaries and investors […]
Neil Woodford has upped his stake in Provident Financial as shares in the consumer credit company double from their August lows. According to a regulatory filing published late yesterday, the star fund manager increased his stake from 19.1 per cent to 20.1 per cent. Provident shares jumped 12 per cent on Friday morning when the […]