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Principles and RU64

The FSA has decided to retain RU64, a clumsy regulatory device intended to force advisers to sell low-cost stakeholder pensions rather than higher-cost up-frontcharging old-style contracts.

The rule was the prime example of using regulations to try to fix a badly designed policy and product. Old-style pensions were too expensive but stakeholder did not allow companies to make enough from pensions to sell them without radically changing the structure of their businesses.

Stakeholder did not reach the target market in any significant numbers. Now, with personal accounts on the horizon and business plans being thrown into disarray again by Government plans, the FSA board decides to keep the rule. Why? To try to fix badly designed personal pension accounts using a clumsy regulatory device perhaps? What happened to principle-based regulation? The regulator is in danger of making a fool of itself.


FSA keeps RU64

The FSA has announced it is to keep RU64 despite the widespread industry belief that it was going to scrap the controversial rule.FSA chief executive John Tiner hinted last May at a Treasury select committee meeting that the regulator was minded to scrap RU64 as many of the dangers that prompted the rules are no […]

Drive the car of your dreams

Money Marketing readers are being offered the chance to win the car of their dreams for a weekend by taking part in our latest salary and benefits survey.The survey, which is run in conjunction with Hays Financial Services, will cover IFAs and other financial services businesses, looking at salaries, additional benefits, job satisfaction and career […]

Hip providers in CML clash

The Association of Home Information Pack Providers has clashed with the Council of Mortgage Lenders over the CML’s delay in responding to the consultation on Hips.The CML wants Hips to be postponed until the results of initial test stages have been evaluated, accusing the Government of being slow to recognise the problems with local authority […]

Heroes welcome

I am sure that you will all be able to visualise the scene in a film where the hero is trapped in a lift with the walls, ceiling and floor moving inwards to attempt to crush him.


Neptune video: Abenomics: the impetus for Japan’s fast-track recovery?

The remarkable performance of the TOPIX over the past year has caused many sceptical equity investors to look again at the Japanese market. These returns have come despite very significant problems facing the Japanese economy. Chris Taylor, manager of the Neptune Japan Opportunities Fund, discusses these problems and whether Abenomics will be able to overcome them, enabling the market to continue to rise.

In the video, Taylor addresses the following:

• The size and speed of Japan’s unprecedented monetary policy
• Abenomics and the implications should it fail
• Corporate Japan and beneficiaries of government policy


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