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Policies&#39 probe may name and shame big life offices

Several major life companies could face public naming and shaming by the

FSA if they are found to be at fault in the mortgage endowment review.

It could lead to a number of leading life offices being forced by the

regulator to conduct a full-scale review of all their endowment policies in

a move reminiscent of the pension misselling scandal.

In a statement last week, the FSA said it was “continuing its focused work

looking at individual firms. This has included reviewing historical selling

practices and, in some cases, the way premiums were set and represented to


Among firms thought to be at risk are Axa Equity & Law, Eagle Star and

Lloyds TSB. Syndaxi director Rob Reid says: “As I recall, there were two

companies, Axa Equity & Law and Eagle Star, who were less than forthcoming

with the gross assumptions they were using in making illustrations to


Axa Sun Life marketing manager Steve Muir says: “Different providers had

different interpretations at the time. It is dangerous and misleading to

suggest there is a list of bad boys when the FSA review is ongoing.”

Eagle Star spokeswoman Sandra Paul says: “We categorically refute that the

FSA is investigating us over endowment complaints.”

FSA spokesman Rob McIvor says: “We cannot say more at this stage but watch

this space.”


Standard looking at all the options

The recent front-page story headlined, Standard rejects IFA commission ontrees, does not accurately reflect Standard Life&#39s position on this matter. Prior to the publication of regulatory update 88 by the PIA, Standard Lifechose not to offer tree-walking services to the clients of IFAs. This was because Standard Life, like most other providers, believed thatthis would […]

Goalposts moved as duplicate Isas get hit by big penalties

The Inland Revenue has finally made a decision on how it will deal withduplicate Isas after months of deliberation. The problem became apparent shortly after Isas were introduced in April1999, when the Revenue realised that thousands of investors weremisunderstanding the rules and taking out both mini and maxi Isas withinthe same tax year. Many of […]

Winterthur opens its pensions

Moving on to the main useful features and strong points of the product, Laymond says: “It can cope with virtually all corporate pension requirements. There is on line and internet access for members, clients and IFAs.”Mandell points to the external fund links and the fact that the company is owned by Credit Suisse, giving brand […]

Mark dampier

Hargreaves Lansdown head of research Mark Dampier is a self-confessed“media tart” who loves seeing his name in the national and trade press. But then again, anyone in his position would need to love the attention.Why else would they put themselves forward as the mouthpiece for one of theUK&#39s leading and often controversial IFAs? As the […]

Large-cap growth alpha thesis: seeking risk-adjusted excess returns

Content supplied by Loomis, Sayles & Company — an affiliate of Natixis Global Asset Management For mutual fund investors and managers of large pensions or endowments, a major challenge is to identify those portfolio managers who are most likely to deliver superior risk-adjusted returns in the future. Understanding how an investment philosophy informs a manager’s decision […]


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