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Pledge plea on retro reviews

Concerned IFAs are calling for FSA chief executive John Tiner to reiterate the policy of no retrospective misselling reviews, outlined by his predecessor Howard Davies.

WDS managing director Julian Stevens says Tiner should now make a formal and official statement to confirm that Davies&#39 view is still policy at the FSA.

Stevens says although a statement can be of only limited value, given the problems with split-capital investment trusts and structured products, he considers it would at least demonstrate fairness.

He also believes a statement from the FSA, ruling out retrospective reviews might help with how PI insurers view financial services.

FSA spokeswoman Louise Buckley insists that the FSA does not do retrospective reviews. She says: “By retrospective review, I take it he means applying today&#39s rules to events that took place in the past. We have already said that we do not do retrospective reviews. We do not do them and have no intention of doing them.”


Standard Life Bank moves into profit

Standard Life Bank has moved into profit for the first time, reporting profits of £4.6m a year ahead of expectations. Mortgages under management grew from £7.2bn to £8.7bn and gross mortgage lending rose from £3.1bn to £3.4bn. SLB says it is well placed for future growth, as it now has the ability to access all […]

Axa adding two multi funds to select Oeics

Axa Investment Managers is adding two multi-manager funds to its select Oeic range in a bid to capture investors with low or average risk profiles. The select active portfolio aims for capital growth over the medium to long term through exposure to a wide spread of geographical regions and asset types. It will have a […]

Sofa sets course on charter flight

Former Britannic Retirement Solutions corporate development director Bob Bullivant is the new managing director of Sofa, replacing Brian Lawless who is moving at the end of this month to IFA The Jelf Group. Bullivant says he sees Sofa as the gold standard organisation for the professional adviser. He considers Sofa is one of the key […]

Paul Smee appointed as Practiv non-exec director

Aifa director general Paul Smee is joining IT consultancy Practiv as a non-executive director. Practiv specialises in product delivery and distribution, and advises companies on IFA business solutions. Smee says: “I am glad to be joining a company whose successful operations can help make an IFA&#39s life a lot easier.”


White paper — Dubai International Insights

Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.


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