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Seven firms lose FSA permission

The FSA has cancelled the permission of seven firms, many for failing to submit Retail Mediation Activities Returns.

The Financial Associate and Mortgage Quest 2000 lost their permission for failing to submit an RMAR for the period ended August 31, 2008.

Murray’s Financial Services also lost its permission for failing to submit an RMAR for the period ended August 28, 2008.

The Mortgage Shop’s permission was cancelled because it did not submit an RMAR for the period ended July 31, 2008 and Windmill Finance Services lost its permission for repeated submission failings.

The regulator cancelled the permission of Greygoose Mortgages Services because it failed to pay FSA fees of £1,352.38, despite repeated requests to do so.

Saltire Underwriting Agency’s lost its permission after it failed to respond to repeated requests from the FSA for information regarding the management of Saltire’s client money account.


F&C seeking to merge eight funds

F&C is proposing to merge eight of its funds into other portfolios. They include emerging markets ex Pacific Asian equity, European dynamic, FTSE 100 tracker, Japan growth, Latin America equity, managed balanced, managed distribution and UK dynamic funds.

Drawdown dangers

Could income drawdown be the next sector to be hit by misselling claims?

Childcare - thumbnail

Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.


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