The FSA has formed a team of nine internal staff to implement the recommendations made following its investigations into Northern Rock. It will be led by head of supervision for small mortgage firms and credit unions Mandy Spink.
I feel compelled to respond to the open letter to mortgage intermediaries printed in Money Marketing last week. Had it been two days earlier, I might have dismissed it as an April fool. It is difficult to argue against the actual words of the letter but the sentiment is very much misfounded. I would say […]
Stagecoach Group has become the first major employer to ditch its stakeholder scheme and use a group Sipp as its default option for employees.Hargreaves Lansdown will provide the group Sipp as the default for all new employees.The existing 10,500 Stagecoach staff currently in the firm’s stakeholder scheme or without provision will also be offered the […]
JC Flowers could walk away from a potential deal with Friends Provident before the end of the month deadline which has been imposed by the embattled life insurer.
Abbey has pulled the last 100 per cent mortgage deal from the market. A spokesman says: “This is normal given the current market conditions and is in line with recent moves by other lenders.”
With a 10 per cent return from his Global Income Fund in the first three months of 2015, Jacob de Tusch-Lec talks to journalist Alexis Xydias about the drivers and why he favours Europe and Asia over the US. Jacob believes European companies remain cheap and is still finding opportunities amid value stocks – in contrast […]
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A majority of independent financial advisers think there should be a single rate of tax relief according to this week’s Money Marketing poll. More than 120 advisers took part in the poll with 77 in favour of a single rate of tax relief, 39 against and six undecided. Yellowtail Financial planning managing director Dennis Hall […]
The FCA has issued a warning over ‘commoditised’ defined benefit pension transfers running the risk of unsuitable advice. In a letter sent to advisers holding pension transfer permissions, the regulator reminds planners that a “key area” of its focus is on pension transfers, and that it will later this year be contacting all firms to […]
Problems look set to arise for pension schemes operating relief at source