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Trail and retribution

The pressure is also mounting on Paymentshield to reverse its decision to stop paying trail commission to advisers no longer regulated by the FSA.

It faces legal action from a group put together by former Paymentshield marketing director Gareth Riding while the Association of Mortgage Intermed-iaries has been drawn into the issue after being inundated with calls from brokers eager to seek compensation.

This saga must go down as one of the biggest financial services gaffes of recent times, given the way that Paymentshield’s reputation is being dragged through the mud.


AMI associate director Griffiths quits

Association of Mortgage Intermediaries associate director Rob Griffiths has quit after just a year in the job.Griffiths, who joined from trade newspaper Mortgage Introducer where he was editor, is set to pursue a career back in the media.The AMI board was notified of the decision today, and Griffiths will remain with the trade body for […]

Question of trust over Sipp provision

Jan Regnart’s article provides a valuable and informed insight into some of the reasons why many providers of self-invested personal pensions appear to have delayed submitting their application for FSA authorisation. However, the issues she describes so accurately do not apply to a small number of Sipp providers that are already regulated and have been […]

HSBC and Standard Life teams up for Sipp launch

HSBC has joined forces with Standard Life to launch a new Sipp proposition designed to enhance the bank’s current pension portfolio and bridge the gap between its stakeholder pension and SSAS/SIPP Practice.

Melton Mowbray BS buys stake in packager

Melton Mowbray Building Society after the Melton bought a stake in packager Praxis.The society is pledging increased capital for new IT systems on the back of its investiment to buy a minority share in the firm. Praxis managing director Richard Stettner says: “Both companies have expertise in different areas and together we hope to explore […]


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