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Stockmarket continues to plummet

The stockmarket has continued to plunge with the FTSE 100 sinking another 4 per cent to its lowest point since 1997.

Stocks across the board are down with no winners. The FTSE100 presently stands 4362 at 10.15am Friday 21 September, following a similar 4 per cent fall over night on the Dow Jones.

Chase De Vere investor services manager Nikki Foster says: "We are telling our clients not to panic and to sit tight. This was always going to happen after such an unprecedented attack. There is not going to be a quick recovery, but things will pick up after a period of stabilisation."


Actuaries&#39 service offers to take over policy complaints

Actuarial consultancy firm Hazell Carr is launching a complaint management service to help IFAs and insurance providers resolve allegations of endowment policy misselling.The service is being offered in response to the Financial Services Ombudsman and FSA&#39s decision in June to tighten compliance rules, making assessments more complicated for firms. Failure to comply can result in […]

CML warns housing market will slow

The terrorist attacks on New York may slow the UK housing market more than previously forecast, the Council of Mortgage Lenders is warning. Director-general Michael Coogan says the trade body may have underestimated the impact of the terrorist atrocities due to the continued strength of mortgage lending, which hit a record high last month. He […]

West Brom could become independent broker

West Bromwich Building Society is believed to be following in the footsteps of Bradford & Bingley by becoming an independent mortgage broker offering advice through its branches.Industry sources claim West Brom is gearing up to massively extend the seven-strong lending panel it established in March to bolster its income as profit margins become increasingly tight […]

Poor performance from the FSA

The simple reason why the FSA is going to continue to allow the use of past performance in the selection of a particular fund is that it has been unable to come up with anything better. Another fine waste of time and our money.As for Ken Clarke&#39s pledge to clip the wings of the FSA, […]


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