Norwich Union is understood to be the only major insurance company which has failed to meet the FSA’s new product sales data requirements.From July 28, providers are required to provide information on whether products were sold on an advised or non-advised basis but NU will miss this deadline as its systems are unable to strip out this data. The firm has told the FSA about its systems problems and will not be penalised. The data will be used for the FSA quarterly product sales data report to help the regulator monitor market trends. NU head of compliance oper- ations Iain Glen says: “We had hoped the FSA would allow us to use assumptions. The FSA and IFAs are aware of the issues we have had with this.”
Safe Home Income Plan members wrote £262.8m worth of equity-release business in the second quarter, a fall of 5.8 per cent on Q1 but 0.75 per cent up on Q2 2005.
One of the first lessons all journalists learn at the start of their careers is that any official report can be interpreted in diametrically opposite ways, depending on the person reading it.
Webline has announced a 250,000 investment in new developments for the portal as a result of adviser feedback.The selected enhancements will provide advisers with additional more advanced comparison facilities to provide a better service to the client and offer more opportunity to up-sell products.The other main area of development focuses on providing additional management information […]
First time buyers will face a potential shortfall of over 5,000 each, despite planning to spend two years saving for their deposit, according to Alliance & Leicester.The A&L mortgages study found FTBs want to save a deposit of 11,710, about eight per cent of the average first time buyer house price. However, when it comes […]
Welcome to the latest update for The Brunner Investment Trust PLC from the Trust’s portfolio manager, Lucy Macdonald. Market Review Global equities have rallied over the first quarter of 2017, buoyed by signs of strengthening growth and optimism over company earnings, although this rally has faded towards the quarter end. US equities posted their strongest […]
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