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Review for best execution rules

The FSA is launching a rev-iew of best execution rules, which aim to ensure firms get the best deal for consumers buying and selling equities and other investments.

The move is in response to the growth of online share dealing and its impact on how users get the best deal when transacting electronically.

The FSA says electronic trading has made the rules, which require firms to take reasonable care to establish the price which is the best available for the customer in the marketplace, increasingly difficult to interpret.

The review will examine if the rules need to be updated in light of these changes and will focus on a number of issues, including the use of a price benchmark as the best way of encouraging firms to achieve the best price.

The review will also consider the merit of greater disclosure to customers of a firm&#39s execution policy to help customers make more informed choices when selecting firms.

Director (conduct of business strategy) Michael Folger says: “Our policy on best execution is designed to ensure customers get a good deal. Standards are set in relation to price and other aspects of an order to ensure firms execute dealing instructions as well as they are able.”


Principality introduces three year fixed mortgage

The Principality Building Society has introduced the 5.95 per cent fixed rate mortgage.The mortgage has a fixed rate of 5.95 per cent for loans of up to 95 per cent of valuation for the first three years of the loan. The product is available for both first time buyers and people looking to remortgage, although […]

Investment Update

New Star Asset Management has raised £25m of new equity from investors, including a number of undisclosed UK financial institutions and wealthy individuals. As well as subscribing for equity now, the group of inv-estors has agreed in principle to provide an additional £125m in future to finance major acquisitions. Close Brothers Group fund management division […]

Metropolitan Tenant&#39s House Purchase Advisory Bureau reprimanded by OFT

The Office of Fair Trading has forced a mortgage broker to change its advertising because it gave false impressions of the Government&#39s right to buy housing scheme. Glasgow-based Metropolitan Tenants&#39 House Purchase Advisory Bureau distributed leaflets which suggested the scheme – which gives council tenants the chance to buy their property at a discount – […]

Scottish Life Mortgages – Britannic Money 12 Month Discount 85 Per Cent

Monday, April 30 2001.Type: Discounted rate flexible mortgage.Discounted term: 12 months.Discount: 2.5 per cent.Payable rate: 5.24 per cent.Minimum loan: £25,001.Maximum loan: Up to 80 per cent of valuation subject to a maximum of £500,000, 81-85 per cent of valuation subject to a maximum of £300,000.Income multiples: 3.25 times principal income plus second or 2.75 times […]


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