View more on these topics

Regulation may do more harm than good to the public, says Goodfellow

Outgoing Building Societies Association chairman John Goodfellow, who is also the chief executive of Skipton Building Society, has warned that the regulation of mortgages could be introduced at the detriment of consumers.

In his final speech as the chairman of the association last week, Goodfellow called for vigilance by the Government, regulators and the mortgage industry to ensure this does not happen and said this year&#39s designer disease was “Regulitis, part of the rigor mortis family”.

While stressing that the BSA supported the concept of regulation, Goodfellow cautioned that mortgage regulation would change the nature of the market and may end up costing the consumer more than it protects them.

Goodfellow added that although there remained plenty of issues surrounding regulation, there was also a great deal that the industry should be celebrating.

“We are in the middle of a regulation experiment and we must guard against unplanned consumer detriment,” explained Goodfellow. “The symptoms of regulitis include the body going stiff, the eyes glazing over, an increase in the heartbeat and a feeling of helplessness.”


Annuity rethink on money purchase

Trustees of occupational money-purchase schemes will be forced to offer members access to the open market for annuity purchase when the simplified pensions regime takes effect in April 2006. Currently, many members lose out when trustees take annuities away from the pension provider, denying some scheme members access to improved rates from other providers because […]

Incredible bulk

The Financial Technology Research Centre has conducted a study into the ecommerce facilities available to group pension IFAs to see what their top priorities are. High on the list is the providers&#39 ability to share information on the pension scheme with the IFA, allowing the adviser to populate information back to their client management system […]

FSA says too early to say how regulation will work

The FSA has welcomed the Treasury announcement on home reversion plans, saying it will bring clarity for consumers and that reversions carry comparable risks to lifetime mortgages. Press officer Robin Gordon-Walker it is too early to say how it will regulate home reversion but it will go through a consultation process in due course. The […]

Inter-Alliance still seeking partners

Inter-Alliance says it is still looking for consolidation partners after its merger talks with Berkeley Berry Birch collapsed last week. The listed IFA rejected speculation that it would need a further injection of funds to stay afloat and said it would become cashflow positive in the final quarter of the year, delayed in part by […]

Leading Edge – April 2017

There is little doubt 2017 will be a year of political uncertainty. Leading Edge is Royal London Asset Management’s regular review of investment markets. This edition explores some of the impacts that this uncertainty is having on investors, from the pitfalls of prediction within UK equity investing to the dangers of opting for convenience over […]


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