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Towry Law closes international business

Towry Law announced today that it is closing Towry Law International to new business in the light of difficult market conditions. TL says this will have no impact on its operations in the UK.

Subject to regulatory approval, the TLI offices in Bahrain, Dubai and Japan will close and the TLI office in Hong Kong will become the client servicing centre for all of TLI&#39s international business.

Money Marketing revealed at the beginning of May that clients in Cyprus, the Middle East and Asia were alleging that TLI missold hedge funds and geared with-profits bonds, and was facing legal action that could result in compensation of more than £300m.


Fear that exams will kill LTC market

Industry experts fear the long-term care market will die out as FSA rules compel people already advising on the product to take an exam to prove their competence. The rules were published this week and come into force on October 31 when LTC comes within the scope of the FSA. They stipulate that all advisers, […]

Age Concern could set up a national IFA network

Age Concern is considering a plan to launch a national network of IFAs to service the retirement market for financial services. The charity is believed to be preparing a business plan that will be considered at its June board meeting, where a decision will be made whether to go ahead with a national advisory presence. […]

Tiner attacks EU over Mifid speed

FSA chief executive John Tiner has hit out at the European Commission for bringing in the Market in Financial Instruments directive too quickly, describing the move as “insensitive” to firms&#39 needs. As revealed in Money Marketing two weeks ago, Mifid – also known as ISD2 – could mean that the vast majority of IFAs have […]

Lipper revamp aims to boost comparisons

Rating agency Lipper is developing a new fund classification structure based on analysis of underlying holdings in a bid to offer IFAs and investors more detailed performance comparisons. The structure should allow IFAs to compare the funds in Lipper&#39s UK, European, global and North American equities categories using style and market capitalisation considerations. It could, […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


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