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Remuneration code set to cover retail investment

The FSA is considering extending its code of remuneration practices to retail investment advisers despite admitting that adviser remuneration did not play a significant role in the credit crisis.

In its consultation paper,entitled, Reforming Remuneration Practices in Financial Services, which was published last week, the FSA proposed new handbook rules for the UK’s 45 biggest banks, brokers and building societies.

Under the rules, firms will have to defer at least two-thirds of all significant bonuses so that payouts are linked to the long-term performance of entire banks or divisions.

The regulator says its overall objective is for firms to “establish, implement and maintain remuneration policies, procedures and practices that are consistent with and promote effective risk management”.

The regulator is considering extending this requirement to other FSA-authorised firms, including retail investment intermediaries.


Crunch time for cru

The Arch cru saga continued to make waves this week after it emerged that the fund range was suspended on a number of fund supermarket platforms, days before the funds were pulled by their own administrator.

FSA stress test on Barclays boosts FTSE

The FTSE 100 gave a level start today opening on a par with Thursday’s close of 3,925 but shares boosted in early trades with hope that the FSA’s healthcheck on Barclays could keep it free from government intervention.

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Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.


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