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PIA fines 31 more firms

The Personal Investment Authority (PIA) has today taken disciplinary action against 31 firms issuing fines totalling £108,000 in relation to pensions review failures by small IFAs.

The firms have been disciplined for failing to meet the December 1997 deadline to complete 90 per cent of their most urgent cases.

The companies fined are Abacus Insurance Consultants, ADA Financial Consultants, Ashby London Financial Services, Aspin Analysis Ltd, Bainton Smith Financial Services, Berkley Morgan Ltd, Bruce & Partners, Caswell & Company, Chartertrack Financial Services Ltd, CJ Hussey Partnership, County Insurance Consultants and County Estates, C.W Financial Services, Fisher Financial plc, HCS Pensions Management Ltd, Hightree Financial Services Ltd, Howard Cox, Independent Professional Advisers Services Ltd, Kenneth S Morrison Life & Pensions, Lee & Company, M A Noble Ltd, Mountbatten Financial Management, PJ Wyatt Certified Accountants, Professional Affinity Group Services Ltd, RAM Financial Services Ltd, RM Gibson & Partners Ltd, RV Tax Life & Pension Brokers, Seymour Price & Company Ltd, Stretton Life & Pensions Ltd, TPEC, Wellard Shaw Financial services Ltd and Wood Thompson.


Gartmore streamlines unit trust range

Gartmore is to take advantage of the Government&#39s stamp duty exemption period to streamline its retail unit trust range.Gartmore was bought by NatWest in April 1996 and plans to amalgamate certain funds, re-name others, introduce accumulation units and standardise the charging structure.The proposals will reduce the number of retail unit trusts from 35 to 28 […]

Public see demise of state pension as inevitable

Three quarters of the public say it is important to take out a personal pension because they believe the demise of the universal state pension is inevitable.The research by Swiss Life and the Fabian Society shows that 24 per cent believe that pensions should be compulsory for the employed.The report finds that 31% of employers […]

Skipton cuts rate

Skipton Building Society has reduced its variable mortgage interest rate by 0.25 per cent to 8.55 per cent and has also launched two new mortgages.The Base Rate Tracker mortgage is guaranteed to follow the Bank of England&#39s base rate, with a fixed differential of 0.75 per above. This means it is currently at 8 per […]

NAPF calls for single pensions regulator

National Association of Pension Funds director general Ann Robinson, today called for the government to set up a single regulatory and taxation regime for pensions.Speaking at the Fabian Society &#39Getting Welfare to Work&#39 conference in Westminster, Robinson said: &#34We need to get rid of complex legislation and reform a tax system which defies belief because […]

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David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.


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