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Rifkind calls for new savings account

Tory work and pensions shadow Sir Malcolm Rifkind has tabled a Private Members Bill calling for the introduction of a savings and retirement account, SaRa, as an alternative to stakeholder pensions. The product would allow cap-ital withdrawals but would be designed to encourage longer-term saving.

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‘IFRS rules will hit discounted loans’

The introduction of international financial reporting standards could lead to a trend away from discounted mortgage rates, says BM Sol- utions managing director Tim Hague. Under the new IFRS rules, which relate to accounting periods ending after April 2005, lenders have to report the average return based on the income received over the life of […]

Health warning on IDD to say what no advice means

I wish to offer my support to the Money Marketing No Advice, No Protection campaign. We believe that distributors which sell protection without giving advice and/ or without offering a full product range should make it clear to the consumer the limitations of their service and the rights the consumer is giving up. The FSA […]

Leitch confirms multi-tie project

Former Zurich and Allied Dunbar chief executive Lord Sandy Leitch has confirmed he is setting up a multi-tie financial services distribution business, called Intrinsic, with well-known industry colleagues. Former Zurich Advice Network marketing director Kevin Donaldson will head up the firm as CEO.A spokesman for the venture says the move, first reported in Money Marketing, […]

Stephen Haddrill

With a diplomacy not often heard in the sector, the former civil servant who now heads the ABI praises the FSA as a world-class regulator on the one hand while compiling a dossier that aims to document its regulatory failings. But James Salmon finds he is more openly critical of the Government’s failure to give the pension industry adequate guidance ahead of A-Day and of its overzealous application of regulation in British industry

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