The Parliamentary Ombudsman has written to MPs to ask whether they feel she should reopen her inquiry into Equitable Life. They have until May 21 to respond. Ombudsman Ann Abraham's report into Equitable published in July last year concluded the FSA had no responsibility for the debacle. Liberal Democrat MP Norman Lamb is tabling an early day motion to get support for reopening the inquiry.
HERITABLE BANK Self-Cert Three-Year Fixed Type: Fixed-rate self-certification mortgage Fixed term: Until March 1, 2007 Fixed rate: 5.99% Minimum loan:£25,001 Maximum loan: Up to 75% of valuation subject to a maximum of £400,000, up to 70% of valuation subject to a maximum of £500,000 Income multiples: Based on affordability calculation and credit score Arrangement fee: […]
It is not often these days that you find a solid company man who has only ever worked for one firm in a 30-year career but Scottish Equitable's Stewart Ritchie is one such man. But where usually such a long tenure would tie the personality to the company, Ritchie is more well known as the […]
Britannic Asset Management has appointed Jennifer Chirrey as an investment manager in its fixed-interest team from Abbey National Asset Managers.
Type: Oeic Aim: Growth by investing in global equities Minimum investment: Lump sum $10,000 Investment split: 100% in global equities Place of registration: Dublin Charges: Initial up to 5%, annual 1.25% Commission: Subject to negotiation Tel: 0131 270 5570
There is a puzzle at the centre of financial markets. The global economy is growing, there are signs of inflation and interest rates are going up, yet yields remain low. In this article, James Foster, manager of the Artemis Monthly Distribution fund, unpicks this conundrum and looks at where investors can find income. There is […]
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A decade ago, I went through the pain of switching utility providers. Deterred by a catalogue of errors, it is only recently, after a house move, that I tried again. I was pleasantly surprised by how easy it was. It has made me think about how complex and expensive it is to switch in financial […]
It has never been more important to encourage saving. But advisers know only too well how challenging the complexities of the UK savings and pensions landscape make it for people. Any trends towards simplification would be welcome, but unfortunately recent developments have moved in the opposite direction. Take Isas, for example. Their simplicity has always […]
The FCA has confirmed it will consider if there needs to be better guidance around when it and the Financial Ombudsman Service can share information ahead of the FOS making its final decision. In a Complaints Commissioner final report, published on its website yesterday, commissioner Antony Townsend invited the FCA and FOS to discuss when […]