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Smee ends speculation over ABI role

Outgoing Aifa director general Paul Smee has ruled himself out of the running for the role of director general at the Association of British Insurers.

Smee announced in September that he will be stepping down from Aifa and joining the Association for Payment Clearing Services as chief executive in December.

He says he is committed to taking up his new role, silencing speculation he would apply for the position of director general at the ABI when Mary Francis steps down.

Francis leaves in March 2005 to focus on her non-executive roles. She is a non-executive director of Centrica, a member of the court of the Bank of England, a member of the Press Complaints Commission and a trustee of the Almeida Theatre.

Smee has been at Aifa since it was set up five years ago to replace the IFA Association. He worked at the ABI for two years from 1994 as head of life insurance.

He says: “I will not be applying for the position of director general at the ABI. I have got another job.”


AVCs could lose out to fat cats in Bill change

A Pensions Bill amendment could see people who have made additional voluntary contributions lose their money to fat-cat directors, warns an occupational pension consultancy. The amendment, made by the House of Lords last week, will overturn the current situation where money invested through AVCs is the first to be ringfenced on scheme wind-up. First Actuarial […]

Rubbish data in, rubbish data out

The problem with life offices&#39 TVAS reports is not the TVA systems that the life offices use but the data that they put into them. It is a case of rubbish in, rubbish out,I&#39m afraid. Those responsible for the data, or at least checking it&#39s within the bounds of common sense – which means not […]

The FSA&#39s mortgage broker gap

With less than two weeks to go before the onset of mortgage regulation, concerns are surfacing about the considerable number of mortgage brokers yet to be accounted for by the FSA. Recent figures released by the FSA show that it had received 3,995 applications for direct authorisation and 2,917 applications for variation of permission for […]

CML fears firms trading on after authorisation refusal

The Council of Mortgage Lenders has raised concerns that brokers will be able to continue trading after they have been refused authorisation. The Treasury has revealed that mortgage firms which fail the authorisation checklist will still be allowed to continue dealing with clients until their appeal is complete. Once a firm has been refused authorisation, […]


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