View more on these topics

Regulator taped IFA during visit

While I was a partner of Berkeley Wodehouse Associates, the FSA chose to visit in a thoroughly high- handed manner relating to an ongoing pension enquiry when such matters were at their height.

The FSA demanded a private room, had their own recorder and refused us the same privilege. They did not even permit us to have any legal representation, while asking questions in a manner that is best described as formidably confrontational.

The FSA must start to act in accordance with its principle 11.

I have just drafted a letter to the FSA and searched its website for an address. Amazing. There is no address for communication, just a telephone number.

I have had the satisfaction of being able to tell them so without cowering under their grossly overweight influence.

PS: BWA (now part of Lighthouse Group) was never fined.

Michael GazeCowden, Kent


BPF warning on Sipp perils

The British Property Federation is warning IFAs to improve their expertise on property ahead of residential property being allowed into self-inv- ested personal pensions from A-Day next year. Property investment into Sipps is high profile, with many investors considering buying multiple residential properties for putting into a Sipp. The BPF says there is an education […]

FSA’s mystery shopping reveals mortgage shock

An FSA mystery shopping exercise found more than half of mortgage firms are still not complying with rules on the provision of disclosure documents, nine months after M-Day brought in regulation. Findings show a shocking 55 per cent of the 82 visits to 62 mortgage lenders and brokers found non-compliant behaviour. The mystery shopping exercise […]

Standard offers cash calculator

Standard Life has added a tax free lump sum calculator to its adviserzone website as part of its countdown to simplification campaign.The tool will enable advisers to calculate whether their clients are entitled to tax free cash above 25 per cent of their pension fund and plan ahead for A day accordingly.Standard John Lawson marketing […]

European Opportunities: 'It’s nice when stock selection results in a macro tailwind'

Amid significant macro headwinds in August, Mark Page explains why his fund’s focus on stock selection has helped it outperform a falling market in August. BESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswy


News and expert analysis straight to your inbox

Sign up


    Leave a comment