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RBS chief Goodwin is knighted

The Queen&#39s birthday honours list saw Royal Bank of Scotland group chief executive Fred Goodwin receive a knighthood. A CBE was awarded to Britannia Building Society ex-group chief executive Graham Stow while former FSA managing director Carol Sergeant was awarded a CBE and director Oliver Page an OBE, both for services to financial regulation.

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Mortgage regulation wins support

The vast majority of IFAs are confident they can continue as independent mortgage advisers after M-Day, with 82 per cent saying they intend to do so. Forty-seven per cent of IFAs say they will take the network route while 40 per cent say they prefer to be directly authorised. Seventy-five per cent want buy-to-let mortgages […]

FSA zeroes in on Hargreaves Lansdown with split-cap fine

Hargreaves Lansdown has been fined £300,000 and has set aside £1.7m for compensation for failings concerning a split-capital product. The company has been fined by the FSA for the way it described the risks of zeroes held in its secure growth portfolio – a specialist portfolio of zero-dividend preference shares. The rule breaches also relate […]

Treasury set for retreat on 1% cap

The Treasury is set to concede the 1 per cent argument, pushing up the price cap to 1.5 per cent for its suite of Sandler products. The much anticipated ann-ouncement regarding the price cap is due this week, with a major policy reversal coming from the Treasury. With industry big hitters such as Norwich Union, […]

Abbey in warning over NI rebates for personal pensions

An anomaly between the effect of National Insurance contributions on personal and occupational schemes could jeopardise enhanced protection status for personal plans, says Abbey for intermediaries. The company&#39s interpretation of the rules shows that where an NI rebate is paid into a personal pension scheme after A-Day, enhanced protection is invalidated. Abbey is calling for […]

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