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PIA suspends four IFAs

The PIA is suspending four IFAs from conducting investment business.

The regulator has suspended Thorwell (Insurance Consultants) of 20 Cumberland Drive, Lindley Park, Nuneaton, Warwickshire and J D Ward (Financial Services) of 1 Long Lane, London were deemed no longer fit and proper to conduct investment business after they entered into voluntary liquidation.

Willis Financial Services of Barclay House, 35 Borough Road, Burton Upon Trent, Staffordshire was deemed no longer fit and proper after it entered into voluntary winding up.

The fourth firm Belmont House Financial Services of 7 Green Lane, Redruth, Cornwall was deemed unfit to conduct investment business after it failed to meet financial resources requirements and failed to deal with the PIA in an open and co-operative manner.


Imro slaps £250,000 fine on ANZ

Imro has slapped a £250,000 fine on Australia and New Zealand Banking Group for breaching its rules and the FSA Statements of Principal.The breaches occurred between January 1997 and May 1999.ANZ agreed to a settlement after it was judged to have failed to act with due skill care and diligence while managing customer portfolios, to […]

Gibraltar appoints new finance centre director

Gibraltar has appointed James Tipping as its new Finance Centre Director with effect from October 1.Tipping succeeds Anthony Fisher, who has completed a two year secondment from KPMG.A Gibraltarian, Tipping has 13 years experience in international financial markets having been based in London, New York and Latin America.He will hold the position for a three […]

JRA chief predicts the death of personal pensions

The head of J Rothschild Assurance has stakeholder will spell the death knell for the personal pension market according to a report in today&#39s Times.According to the Times JRA chief executive Mike Wilson says stakeholder pensions would cut margins in the industry so much that personal pensions would become unsaleable.Wilson also claims that companies relying […]

Equitable downgraded by Moody&#39s

Equitable Life&#39s financial strength rating has been downgraded by Moody&#39s according to the Financial Times.The Moody&#39s has reduced Equitable&#39s financial strength rating from Aa3 to A1.The ratings agency says it has downgraded the life office because of the increased pressure on its minimum solvency brought about by the need to make provision for guaranteed annuities.The […]


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