View more on these topics

Two more split-cap firms join settlement talks

Two more split-cap firms have agreed to enter into settlement discussions with the FSA.

At a Treasury select committee meeting in June, Tiner revealed that just three out of 21 split-cap firms had agreed to enter into discussions but he told the public meeting that the figure has now risen to five, with several other firms say-ing they would be interested in mediation if the FSA is unable to reach agreement with a bigger group.

Tiner said the FSA has begun to present cases to the regulatory decisions committee and has invited the RDC to issue warning notices proposing regulatory sanctions, including compensation for consumers.

He is disappointed not to have reached an agreement with firms about compensation but says the FSA remains open to proposals by the firms concerned. However, it is not prepared to take any offer simply to achieve a settlement.

Tiner said: “If we cannot reach a settlement with all the firms concerned, we will have settlement discussions with those who have said they are prepared to try to reach agreement through mediation.

“So far, five firms have said they are willing to enter into such discussions – an increase of two since I responded to questions from the Treasury select committee about this three weeks ago.”


C&G launches new fixed rate bond

C&G is launching a new one year fixed rate bond, paying 5.25 per cent pa gross/AER until August 31 2005. The rate will paid on balances of a minimum £500, and additions can be made as long as the offer is open.

BDT reopens Japan fund

BDT Investment Management has reopened the BDT Invest Japanese smaller companies fund, a Dublin-domiciled Oeic that it established in February. The fund was closed on the same day it opened because BDT wanted to construct the target portfolio without having to make adjustments for inflows of new money. It aims for growth by investing in […]

Pearl and Prudential in annuity deal

Pearl personal pension customers will have access to a Prudential annuity when their plan matures under an agreement announced by the two providers today. Under the agreement that will run for five years, Pearl customers will be offered the same annuity rate Prudential currently offers through IFAs. Prudential UK director of corporate partnerships Isabel Hudson […]

Beak time viewing

Save the Suffolk Life avocet! Such was the cry echoing throughout the Diary&#39s habitat at hearing the Ipswich-based Sipp provider is looking to axe the bird, also known as the”cobbler&#39s awl” due to the similarity between its curly beak and a shoemaker&#39s tool. The Diary hears Suffolk is concerned at confusion between its Sipp product […]


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