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Will RDR be on menu for Sants at Aifa annual dinner?

Advisers hope FSA chief executive Hector Sants will use his speech at the Aifa dinner next Wednesday to stamp his authority on the retail distribution review.

The dinner will be the first chance to get an insight into Sants’ thinking but opinion is divided on whether he will offer advisers an olive branch or take a hard-line stance.

The dinner has seen several landmark speeches from FSA and review chiefs over the years.

In 2002, then FSA chief Sir Howard Davies drew applause when he told delegates that the FSA would not regulate retrospectively and would work towards defining misselling.

In 2001, Ron Sandler, the head of the Treasury-commissioned review into long-term savings, stunned advisers by suggesting that clients were only satisfied because they thought advice was free when really it was paid for by the “opaque loan” known as commission.

Baigrie Davies director Amanda Davidson says: “We do not know what Hector is going to say but if he does make an announcement, it is likely to be regarding the RDR or treating customers fairly.”

Aifa deputy director general Fay Goddard says: “We will be interested to learn about FSA strategy on supervising small firms and to hear any thoughts the FSA has on the RDR.”


Just 12 replies to contract law paper

The Law Commission has had only 12 responses to its paper on reform of insurance contract law, with the consultation period ending this week.Last week, there had been no responses when commercial and common law commissioner David Hertzell expressed his concerns at the Osney Media Protection Summit in London.He said: “I do not know whether […]

Sipp to suit stages of life

The Lifetime Sipp Company is offering a Sipp which has been designed to move with a client’s changing lifecycle by offering different levels of service and flexibility for different life stages.

FSA forced to delay fund of hedge funds plans

The FSA has been forced to delay plans to develop funds of alternative investment funds in the retail market due to a number of taxation issues.In an update statement, the FSA says it had planned to issue a policy statement and final rules towards the end of this year to allow the development of funds […]

Nationwide warns house price inflation to fall to 0 per cent next year

Nationwide has warned that house price inflation will drop from the current rate of 9.7 per cent to 0 per cent by this time next year.In its house price forecast, the lender says that 2008 will see a slower economy, stretched affordability, tighter credit conditions and lower buy-to-let demand which will all take a bite […]

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White paper — Singapore International Insights

Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.


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