Another Article

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Another Article The Financial Services Authority (FSA) has prohibited Graham Darby, Director of insurance broker Ambrose Darby, for failing to control the business of the firm adequately.  The order bans Darby performing significant influence functions at any authorised financial firm. The FSA found that Darby, who was diagnosed in July 2008 with a severe medical [...]

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Another ArticleDan Waters, Director of Retail Policy and Conduct Risk, FSA has made a speech at the PFS Conference. http://www.fsa.gov.uk/pages/Library/Communication/Speeches/2009/0710_dw.shtml He covers the following areas: • Independence and types of advice • Adviser charging • Professional standards • The implications for General Insurance products • Changes to the inducement rules Follow us on twitter; http://twitter.com/CEIComplianceUK [...]

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Financial Services Authority Bans Mortgage Broker for Fraud; “Mortgage Applications stretched credibility” says Margaret Cole, FSA director of enforcement

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Another ArticleInitial concerns that the UK Building Society Nationwide’s 125% mortgage product represented a major backwards step to ‘the bad old days’ of mortgage lending have been dismissed as misinformed. Revealing the product last week, the building society explained that it is available to existing borrowers who want to move house, but are in negative [...]

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Another ArticleAn EU body Eurofund published report said the number of announced job losses in the UK was 63,330 between 2009 and March 31. This shows that the UK suffered the largest number of job losses in Europe in the first three months of this year whilst Europes 27 member states saw a total of [...]

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Another ArticleChelsea Building Society has announced the appointment of Stuart Bernau as its new chairman, after the present  incumbent Trevor Harrison announced that he will be retiring from the board at the end of July. He will be officially replaced at the helm by Bernau, who is currently at Nationwide Building Society, on 1 August, [...]

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Another ArticleNearly 1 in 7 UK Independent Financial Adviser firms are looking to sell their businesses following developments in the FSA promoted Retail Distribution Review and the ongoing economic downturn. 9% have already stated they are for sale and another 4% expect to be selling their business by the end of this year. This consolidation [...]

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Another ArticleFSA slams industry attitude towards RDR adviser charging The Financial Services Authority’s (FSA) Dan Waters has expressed disappointment over attitudes towards the adviser charging proposals. When the RDR (see previous post) comes into effect in 2012, advisers will no longer be able to receive commission direct from product providers. Instead, advisers will have to [...]

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Another ArticleOn Thursday 25th June 2009, the Financial Services Authority (FSA) published the latest update on the Retail Distribution Review (RDR), CP 09/18, entitled, interestingly enough the ‘Distribution of Retail Investments: Delivering the RDR’. As expected, a furore erupted amongst many onlookers and commentators whom all have various axes to grind for their distribution model, [...]

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