View more on these topics

Tisa re-registration scheme opens for business

The Tax Incentivised Savings Association’s re-registration “contract club” is now inviting firms to become members of the scheme.

The Tisa Exchange Limited has been set up to facilitate the electronic transfer of assets between platforms and aims to become the industry standard for contracts needed in the process of re-registration of those assets.

A TeX Advisory Council has been set up with representation from platforms, service providers, asset managers and service providers who will liaise with the TeX board on operational, technical and legal issues.

Money Marketing revealed in May that Tisa was looking to create a standard contract to aid platforms in re-registration and transfer of funds.

Members of TeX will pay a one-off joining fee of £8,000 which Tisa says will enable solicitors to start work on writing central contracts, meet costs of development and the ongoing operation of registering.

The annual fee for membership is expected to be around £2,000. The fees will be held for two years and then reviewed.

TeX director Carol Knight says: “Through its re-registration project Tisa has been able to facilitate a cross-industry initiative that has delivered standards and associated service level agreements and we have witnessed the first electronic re-registration messages being sent.”

Tisa says it anticipates 50 members by the end of 2011.



Lloyds tops FOS complaints data

Lloyds Banking Group has emerged as the most complained about bank during the first half of the year, data from the Financial Ombudsman Service shows. In its complaints data published today, the FOS reveals that Lloyds received 37,696 new complaints against it between January 1 and June 30. Lloyds’ complaints figures are almost double that […]


MetLife replaces Living Time with enhanced fixed-term annuity

MetLife is launching a fixed-term annuity to replace the Living Time product it has been distributing but Living Time insists the move does not signal the end of its brand. The freedom income plan will offer clients the chance to transfer to another retirement product if they qualify for an enhanced rate. In an interview […]


Put out the meerkat

The message that financial comparison sites are drumming into consumers that cheapest is always best is damaging the protection industry, says Paul Brooks, creative director of consultancy Space01


Capco sets up skilled persons report service

Financial services consultancy firm Capco has launched a skilled persons report service for firms that have been ordered to conduct an s166 review. Under the Financial Services and Markets Act, the FSA can force a firm to appoint a skilled person to carry out a section 166 or skilled persons report. It checks for weaknesses […]


Guide: what you need to consider for your auto-enrolment project

In this guide, Johnson Fleming reveals what items you need to understand to gauge the impact of auto-enrolment on your business. The guide focuses on: the impact that your auto-enrolment scheme will have on you; assessing your workforce; understanding your staging date; reviewing your current provision; and modelling contribution levels and costs.


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