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Small firms are biggest part of FSA

Small firms now represent 97 per cent of the FSA’s membership since regulation of mortgages and general insurance, says FSA managing director David Kenmir.

At the FSA’s first annual retail intermediaries conference last week at the National Motorcycle Museum in Solihull, Kenmir also said the national strategy for financial capability financial education programme would put the priority on schools this year. He said the FSA will be focusing on treating customers fairly, key facts illustrations, depolarisation and remuneration.

Kenmir said: “As the retail market evolves, IFAs face an uncertain future. Those that adapt their businesses to take advantage of the opportunities the marketplace presents will flourish because of the growing need for financial advice.”Conference reports, p12


Clerical adds up A-Day

Clerical Medical has launched an A-day pension protection calculator tool to its website to assist advisers in planning for their clients retirement.It includes a mechanism to calculate projected tax-free cash levels and any recovery charges that may apply for the three different protection options. The tool is available through the life office’s IFA website.

Highbury Financial Services fined 35,000 for misleading financial promotions

The FSA has fined penny share tipping company Highbury Financial Services Limited 35,000 for the publication of misleading financial promotions.The fine was for three promotions entitled “The 25 Shares Most Likely to Double in 2004”.The FSA found these promotions which were published in two national newspapers and one national journal, posed a risk to customers […]

Scot Life Intl’s Q2 sees indicative rates over 300 per cent

Scottish Life International releases its indicative participation rates for Q2, topping 300 per cent for the first time.The quarter, commencing March 14, sees the fund provider’s indicative participation rates for the Protected UK Index fund with 95 per cent protection surpassing 300 per cent, unprecedented in the UK.These funds are available through the Safe Combination […]


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