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PIA fines Jacobs Insurance Brokers

The PIA has fined Jacobs Insurance Brokers of Cavendish House, Cavendish Road, London E4 the sum of £75,000 for breaches of its rules relating to selling practices, in particular its sale of versatile investment plans, and for pensions review failings.

The firm was placed in insolvent liquidation on October 8, 2001 because of its outstanding pensions review liabilities. Any outstanding pensions review cases will be dealt with by the FSA&#39s Pension Unit.

Any consumers recommended VIPs and surrendering them in the first four years will be contacted by the FSFC.


Polarisation change is on its way says Aifa

Aifa says there will definitely be some change to polarisation included in the FSA&#39s consultation document due to be issued in January.The comments come in response to FSA chairman Howard Davies speaking at a conference to overseas bankers in London yesterday where he is reported to have said: “Clear proposals for change would be published […]

Peak practice

Pinnacle Insurance has introduced a healthcare cashplan for the mature end of the age spectrum. The Medex senior plan is available to anyone between 18 and 79 but the benefits are geared towards older people.The plan has five levels of cover with premiums from £1.50 to £12 a week. It includes benefits for a hospital […]

Davies hints at KFD redesign

FSA chairman Howard Davies has hinted that Key Features Documents could be subject to a complete redesign.Speaking at the foreign banks & securities houses association conference in London yesterday, Davies said that KFDs were not providing a sufficient level of disclosure for investors. He said: “There is ample evidence that the disclosure requirements we place […]

CML code could be lost as N3 nears

The Council of Mortgage Lenders fears it does not have enough time to rewrite the mortgage code before N3 and admits there is a possibility that it may have to be scrapped.The CML says it is highly debatable whether it can revamp the code in the time between publication of the FSA&#39s final mortgage rules […]


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