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Son of Myners inquiry head announced

The Treasury has announced Ron Sandler will be the man to head the “son of Myners” inquiry looking at the long term savings industry.

Sandler was chief operating officer at NatWest from October 1999 until its takeover by the Royal Bank of Scotland in March 2000. Prior to that, he was chief executive of Lloyd&#39s of London where he was involved in its restructuring programme.

In his review of institutional investment for the Treasury, Gartmore chairman Paul Myners recommended a similar look at the retail industry.

Part of Sandler&#39s mandate will be to look at the role played by IFAs in advising clients and the charging structures of retail investment products.

In the same announcement, the Treasury has said it will cut Capital Gains rates for business assets from 30 per cent to 10 per cent over the next two years.


Quarter of brokers may miss deadline

The Mortgage Board is warning that more than a quarter of mortgage brokers are in danger of missing the deadline to get qualifications which allow them to continue advising. The warning comes as IFAs say the Chartered Insurance Institute is being “grossly unfair” in giving its own mortgage advice qualification priority over the Chartered Institute […]

Confusion on stakeholder exemptions

The DSS is sending mixed messages on the terms of stakeholder exemptions for group personal pensions, raising fears that some IFAs&#39 corporate clients may not be compliant. Scottish Life had asked for a DSS exemption for potentially thousands of group personal pension schemes which included waiver of premium, sold over the past year, which it […]

Johnson&#39s DTI role defined

IFAs will continue to feel heat of Melanie Johnson’s stare after her move to the Department of Trade and Industry.The DTI has confirmed that Melanie Johnson will carry the title of Parliamentary Under-Secretary for Competition, Consumers and Markets. She will be responsible for consumer affairs, company law, competition policy, and overall policy on Europe.Johnson was […]

&#39Advisers are tarnished by commission&#39

Consumers believe financial advisers charge too much commission and they are worried about hidden charges, claims a report from the Financial Services Consumer Panel. The Consumers in the Financial Market annual survey questioned over 1,100 con- sumers and says charges provoke greatest dissatisfaction. The report says this tarnishes an otherwise favourable impression of advisers. Most […]


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