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EU changes to KFI will spark consumer confusion

European changes to the Key Facts Illustration document will create “confusion” among borrowers and could prevent them from comparing deals from different lenders, say experts. The mortgage credit directive comes into force on 21 March 2016 and replaces the KFI in the UK with a new European standardised information sheet. The FCA has given lenders […]

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FSCS places network in default two years after PI lapse

The Financial Services Compensation Scheme has placed a network in default almost two years after the company failed to secure professional indemnity insurance. Money Marketing reported back in June 2013 Kent-based network Virtual Net Europe had alerted members it was unable to secure PI cover. The network posted a £182,532 loss for the previous year. […]

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In the crosshairs: Politicians and regulators take aim at non-advised business

Non-advised business models will be in the crosshairs of politicians and regulators no matter the outcome of this week’s general election, Money Marketing understands. Ros Altmann – who is to be made a Conservative peer and appointed minister for consumer protection if the Tories form a Government – says she will explore banning commission entirely. […]

HMRC amends pension reclaim form

HMRC is to change the wording of one of its new tax forms for people reclaiming overpaid tax on pension withdrawals, after confusion over who could use it. Form 55 is to be updated because it currently implies it should only be used if “you’ve only taken one payment and do not intend to take […]

Europe: Domestic backdrop & China impact

By Rob Burnett, Head of European Equities In recent weeks equities have been buffeted by two shocks occurring at the same time: China’s devaluation of the renminbi and the prospect of the US Federal Reserve (Fed) raising interest rates. The market is not comfortable with the Fed raising rates at the same time that China […]

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