View more on these topics

Problem unique to Equitable – Penrose

The ABI says the Penrose Report shows the problems at Equitable Life were unique to that company and not symptomatic of life offices in general.

The ABI has welcomed the further reviews announced by Treasury financial secretary Ruth Kelly but says they must avoid imposing costly or unnecessary burdens on the rest of the industry.

ABI director general Mary Francis says: “The report confirms Equitable&#39s problems, particularly its policies of over-promising and under-reserving, were unique to that company. The regulatory regime has changed beyond all recognition under the FSA.”



“No. Unless there is a dramatic increase in interest rates, I do not think house prices will fall at all.” Paul Harrold, Harrold Financial Planning ” No. House prices will steady back a little way but I cannot see them dropping that dramatically. However, the first-time buyer market has dried up and this is what […]

Warning that staff face jail over laundering

Thousands of financial services staff risk prison or heavy fines for breaches of laws they do not know they are committing, according to consultancy Wide Learning. The firm says 37 per cent of financial services staff have had little or no training on compliance, 23 per cent do not know who their money-laundering reporting officer […]

IFAs believe commission will retain pre-eminence

IFA networks believe the menu will increase clients&#39 understanding of charging structures but do not think it will cause a significant increase in the number opting for fees. Simply Biz chairman Ken Davy believes that the clearer the information the client has of the costs of different types of distribution for different financial services products […]

Sesame is slammed on mortgage choice

Sesame&#39s new mortgage offering has come in for heavy criticism from some of its leading rivals. The company allows brokers to choose between Mortgage Select, with a small panel of lenders and higher procuration fees, and Mortgage Market, which covers every lender in the market but the deal is believed by some not to be […]

Harris Associates' view on the UK’s vote to leave the EU

By David Herro, Partner, Deputy Chairman, Portfolio Manager and Chief Investment Officer of International Equity at Harris Associates Britain’s vote to exit the European Union has led to significant uncertainty across global markets. We believe market impact of this uncertainty, though severe, is more of a shorter-term phenomenon which will provide an opportunity for long-term […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm