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Pru chief Bloomer made deputy chairman of FSA panel

Prudential group chief executive Jonathan Bloomer has taken on the role of deputy chairman of the FSA&#39s financial services practitioner panel.

Bloomer, who has been a member of the panel since February 2001, replaces Schroder Salomon Smith Barney vice-chairman David Challen.

Other new appointments include Threadneedle deputy chairman Alan Ainsworth and HBOS chief executive James Crosby. They replace Fidelity International vice-chairman Barry Bateman, who resigned from the panel on September 30, and former Abbey National chief executive Ian Harley, who left when he was ousted from the bank in July. The panel now has 14 members.

Chairman of the panel and Axa Investment Managers chairman Donald Bryden says: “I am very pleased that Alan and James are joining the panel and that Jonathan is stepping up to be deputy chairman. They will help us ensure that the panel continues to provide an authoritative channel for communication at a senior level.”


Guernsey regulator ordered warnings on split-cap risks

The Guernsey regulator for-ced split-cap investment trusts to include warnings in pros-pectuses about the dangers of cross-holdings and systemic risk as early as March 2001, a protection denied to UK investors.At last week&#39s Treasury select committee hearing into split caps, FSA managing director John Tiner denied accusations by Class Law partner Stephen Alexander that the […]

FSA drops DPS for Aifa&#39s menu system

The FSA is dropping its defined-payment system in favour of Aifa&#39s menu system, leaving IFAs free to be paid commission as long as they offer consumers a payment menu including fees.But the FSA is also propo-sing that for popular products IFAs must give a comparison of the commission they earn with the market average. Some […]

RJ Temple in remortgage and equity-release deal

IFA RJ Temple has signed a deal with national broker Mortgageforce to handle enquiries about remortgages and equity-rel- ease products.Mortgageforce estimates that the deal could generate £50m on the back of RJ Temple&#39s new inheritance tax planning campaign. RJ Temple will continue to use Savills for referrals on standard mortgage business.But it felt that Mortgageforce, […]

Fair exchange

Exchange-traded funds are a recent phenomenon in the UK and Europe – for retail and institutional investors.Put simply, ETFs are funds traded on a liquid stock exchange like a share. They can be bought and sold like any other shares listed on a stock exchange but provide instant exposure to many companies. They combine the […]

UK gilts: Shaken and stirred

Mike Riddell, fixed income portfolio manager at Allianz Global Investors, reviews the performance of the UK government bonds market post-Brexit and assesses its future prospects, as well as giving his outlook for global fixed income markets and yields movements. In addition, he provides a brief analysis of the impact of Brexit and the Bank of […]


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