View more on these topics

Thomas in attack on PIA over regulation

FSA head of regulatory events Lindsay Thomas has hit out at the PIA, criticising its emphasis on making IFAs write everything down to prove they are compliant.

In the Money Marketing IFA UK Conference&#39s centrepiece debate, Thomas said the FSA and industry must agree on what regulation is trying to achieve.

He said: “Requiring everyone to write everything down is blunt and off the point and, outside of the financial services industry, other industry sectors have greater common agreement with their regulators.”

Thomas said that from N2, the FSA will aim to understand better what IFAs do and it would be targeting its rules and supervision to inc-rease effectiveness.

But he conceded the FSA does not understand IFA business well enough and accused IFAs of not knowing what the regulator is trying to do.

Thomas said there should be room for differentiation and independent advisers should not think that it is enough just to have the minimum required qualification.

He also said the industry should ensure qualifications are up to scratch.

Thomas hopes to see comment on how IFA clients can better understand the value of advice from the Sandler rev-iew and believes transparency should be a central theme.


F&C predicting US-led surge in equities next year

The USA will drive global economic recovery in equity markets with a rebound in 2002, according to Foreign & Colonial&#39s chief investment officer. F&C Management group chief investment officer Dr Arnab Banerji is predicting a quick recovery in the middle of next year, and that cash will out-perform government bonds in 2002.Banerji says: “The United […]

Ashburton – Ashburton Euro Asset Management Fund

Tuesday, December 4, 2001.Type: Oeic.Aim: Growth and income by investing in international fixed incomesecurities, equities and money market instruments.Minimum investment: Euros 40,000.Place of registration: Isle of Man.Investment split: Equities 35 per cent, cash 31 per cent,inflation-linked bonds 34 per cent.Isa link: No.Charges: Initial 5 per cent, annual 1.75 per cent.Commission: Subject to negotiation.Tel: 01534 512280.

Unicorn Asset Management – Falcon Investment Trust

Thursday, December 06, 2001 Type: Investment trust. Aim: Growth by investing in UK smaller companies. Minimum investment: Subject to negotiation with stockbroker. Maximum investment: No maximum. Investment split: 100 per cent in UK smaller companies. Types of share: Ordinary. Isa link: Yes. Pep transfers: Yes. Redemption date: None. Charges: Initial subject to negotiation, annual 1 […]

CML code could be lost as N3 nears

The Council of Mortgage Lenders fears it does not have enough time to rewrite the mortgage code before N3 and admits there is a possibility that it may have to be scrapped.The CML says it is highly debatable whether it can revamp the code in the time between publication of the FSA&#39s final mortgage rules […]

Stop the cold-calling

Royal London is pleased to support the petition calling for a ban on cold-calling for pension and investment products. The petition, launched by IFA Darren Cooke of Red Circle Financial Planning and hosted on the Parliamentary website, calls on the Government to ban cold-calling for pensions and investment products. A similar ban is already in force […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm