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Senior civil servants concerned over Hewitt&#39s move

Senior civil servants are concerned the Prime Minister&#39s reshuffle of junior ministers could disrupt legislation for the financial services and markets bill according to the Financial Times.

The concerns centre around Patricia Hewitt who was in charge of the bill. But the reshuffle saw her move from economic secretary at the Treasury to the Department of Trade and Industry.

Quoting a senior Treasury official, the FT says: &#34Hewitt has been responsible for several very important policy areas and moving her will be very disruptive.&#34

But, the Treasury has dismissed these claims, insisting Hewitt&#39s replacement Melanie Johnson has a good knowledge of the bill having sat on the Commons scrutinising committee for the bill.


Neville James appoints investment director

Traded endowment policy specialists Neville James have appointed Peter Mason as investment director and actuary.Mason joins the Tep market maker from Guardian Royal Exchange where he held several senior positions including directorships.Mason is also a non-executive director of the Countrywide Assured Group.In his new role he will be responsible for all aspects of investment management […]

PIA fines three IFA firms over pensions misselling review

The PIA has fined and reprimanded three IFA firms over compliance failings resulting from the pensions misselling review.Buckles of Independence House, Clwyd Street, Rhyl and Capital Planning & Finance of 11 Kingsway, London are both fined £15,000 and ordered to pay PIA costs of £4,500 and £4,200 respectively.Newman Houghton & Co of The Old Station, […]

L&G welcomes Government&#39s commitment to 1 per cent stakeholder charge

Legal & General has welcomed the Government&#39s continued commitment to the 1 per cent annual management charge on stakeholder pensions.The life office says the idea of charging extra fees for additional advice is a sensible suggestion, but it believes the majority of people will only need basic stakeholder advice.Responding to the latest Consultation Brief on […]

Standard Life Investments hits £35m Isa sales mark

Sales of Isas at Standard Life Investments have topped £35m in the three months since their launch according to the company.The life office says sales of Isas have exceeded their Pep equivalents for the corresponding period last year.Standard reports mutual funds sales for the first three months of this tax year reached £75.8m of which […]

The Downsizing Delusion: Why relying exclusively on your home to fund your retirement may end in tears

By Steve Webb, director of policy The British obsession with homeownership can have dangerous consequences. A recent survey by Barings¹ found that up to three million people of working age were planning to rely wholly on the value of their home to fund their retirement. We are not talking about people investing in buy-to-let or […]


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