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Tiner hits out over legal challenge

FSA chief executive John Tiner has expressed frustration over a misselling legal wrangle, saying legal challenges against the power of the regulators should not be used as an example for the rest of the industry. Next week the FSA will begin a Financial Services and Markets Tribunal at which Legal & General will appeal against a fine for misselling. Speaking at an enforcement conference Tiner said: “I think it will be a mistake to give that particular case a symbolic importance that I do not believe it has. It is not a case of one firm standing up to the regulator on behalf of other firms.”


Destini off to an early start with property Sipp

Destini Financial Services is introducing a scheme offering investors the opportunity to hold residential property in a Sipp almost two years ahead of theTreasury&#39s schedule. Trading New Homes, which trades in off-plan and new-build residential property in the UK, will provide investors with an Aim-quoted trading vehicle. The scheme offers the same tax incentives as […]

Lenders rethink BTL criteria

Rising interest rates are putting pressure on buy-to-let lenders to revise their lending criteria, says Moneyfacts. The Mortgage Works has cut its maximum rental income ratio for BTL mortgages from 130 per cent to 125 per cent. Earlier this year, the firm reduced its nominal rate for calculating income ratios from bank base rate plus […]

Why women can&#39t get in step with pensions

Up to 4.5 million working women do not save enough for retirement and another 4.5 million women are not saving at all. The facts about women and retirement are brought together for the first time in an ABI report, The Gender Pensions Gap – Encouraging Women to Save for Retirement. It is rare these days […]

Independent view

The Treasury select committee&#39s long-awaited publication, which concluded that there should be an end to trail commission, is another clear indication that our law makers do not understand what they are talking about. It seems to me that their task should have been to encourage greater savings in the UK marketplace, not deliver another headline […]


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