FTAdviser.com

Bank’s King clashes with government over rescue plans

Story by: James Redgrave, Financial Adviser

Governor believes measures can only reduce the blow of a failing bank, not prevent it completely

• Time published: 00:01
• Date published: 24.07.2008
• Published in: Regulation

Average savings only provide 52-day safety net

The average person's savings that would only last 52 days if they were unable to work, research from Yorkshire Building Society has revealed.

• Date published: 25.07.2008

Mortgage brokers can't get good deals

Seven out of 10 intermediaries have had difficulty obtaining a mortgage for clients, a study by the Intermediary Mortgage Lenders Association has revealed.

• Date published: 24.07.2008

ABI says review of insurance claims procedure flawed

Trade body disappointed with results

• Date published: 24.07.2008

Bankhall white paper

Bankhall, the provider of support services to IFAs, has published a white paper on the challenges and benefits of using client management systems.

• Date published: 24.07.2008

Government bids to prevent a repeat of Northern Rock crisis

The Treasury launches its consultation into the special resolution regime for banking.

• Date published: 24.07.2008

Checkmate in business

Stephen Knight, executive chairman of Checkmate Mortgages, has confirmed plans to launch a new lender in early 2009.

• Date published: 24.07.2008

Network down

Financial intermediary Network Data Holdings has warned that its results for the full year to 31 December are likely to be below market expectations.

• Date published: 24.07.2008

ABI awards on

This year's Association of British Insurers' Financial Media Awards will be hosted by former cabinet minister Michael Portillo and comedian Jo Brand are hosting this year's Association of British Insurers Financial Media Awards on 30 October.

• Date published: 24.07.2008

Structured products seen as safe haven in a turbulent market

CGT changes make structured products more attractive

• Date published: 24.07.2008

Pensions safety net to include more firms

Members of a group of collapsed pension schemes which currently fall outside the scope of assistance will become eligible for financial help

• Date published: 24.07.2008

Welfare plans show advice divide

Green paper highlights lack of access to advice

• Date published: 24.07.2008

Survey finds that regular trustee board meetings help maintain standards

Large schemes ‘leading the way’ on governance

• Date published: 24.07.2008

Milburn resurfaces at Munich Re

Former Royal Liver returns to the industry in branch marketing role

• Date published: 24.07.2008

Pink sees insurance business rise

Intermediaries expect business to go up

• Date published: 24.07.2008

Parties split on accounts funding

Delivery authority's latest consultation paper reveals divisions relating to AMC and one-off structures

• Date published: 24.07.2008

Crunch will kick start saving, claims Cable

Speaking at launch of Scottish Widows' annual report into savings and investments Lib Dem man claims credit crunch may have some benefits

• Date published: 24.07.2008

Friends' warning over pension property

Friends Provident urges people to look at financial planning holistically

• Date published: 24.07.2008

One in four pensioners fail to claim full entitlement, claims Unbiased

IFAP website research reveals that more than £2bn-worth of pension credits will be left to go begging this year

• Date published: 24.07.2008

Zurich adds Seven to investment range

Seven Investment Management has been added to Zurich's investment proposition

• Date published: 24.07.2008

Qualifications key to industry success – Sesame report

Sesame document pushes for QCA Level 4 as industry standard

• Date published: 24.07.2008

Scottish Widows goes all arty

Edinburgh College of Art graduates showcase collections of the future at Scottish Widows headquarters

• Date published: 24.07.2008

Asset selection pays off, says T.Bailey

T.Bailey says advisers could be underestimating the benefits of asset allocation

• Date published: 24.07.2008

UK equity is riding out the storm, says Credit Suisse

Compared to its peers in the developed world, UK equities were one of the last to bend to downward pressure, says Credit Suisse

• Date published: 24.07.2008

Consulting Consortium aims to aid advisers on TCF

Company launches Baseboard system which helps advisers test and grade their TCF compliance

• Date published: 24.07.2008

Hippolite joins Credit Suisse

Credit Suisse has appointed Jeremy Hippolite as a director of asset management for the multi-asset class solutions business.

• Date published: 24.07.2008

Baker Tilly appoints Flaherty

Baker Tilly has appointed Michael Flaherty as a senior tax manager for its southern regional private client advisory team.

• Date published: 24.07.2008

Wakefield brokers banned over serious failing

FSA claims advisers failed to meet the standards expected of approved persons in terms of competence and capability

• Date published: 24.07.2008

Equity release levels up by more than 10%, says Ship

Trade body reveals that a total £275.5m of equity was released in the second quarter of 2008

• Date published: 24.07.2008

Jupiter Sicav looks to India for growth

Jupiter aims to harness growth in South Asia's emerging markets with the launch of a Sicav fund

• Date published: 24.07.2008

Rae to head HML securitisation services

Susan Rae has been appointed HML's first head of securitisation services.

• Date published: 24.07.2008

CII elects top office bearers

The Chartered Insurance Institute elected its new line-up of officers for 2008/2009 at its annual general meeting last week.

• Date published: 24.07.2008

Wesleyan appoints D'Arcy

Wesleyan Assurance Society has appointed Andrew D'Arcy as director of general insurance.

• Date published: 24.07.2008

Baring appoints private client chiefs

Baring Asset Management has appointed Quintin Ings-Chambers as director of business development for private clients in London and Guernsey and Max Edwards as assistant business development and client service director.

• Date published: 24.07.2008

Current accounts too complex, warns the OFT

Report into personal current accounts in the UK claims that the complexity is putting people off from shopping around

• Date published: 24.07.2008

Regulator must expand remit of RDR, warns Skandia

FSA most include mortgage, protection and general insurance sectors, claims investment house

• Date published: 24.07.2008

Advisers lack initiative without client input

Only one in 10 advisers has the experience to rebalance portfolios without client approval

• Date published: 24.07.2008

HBoS business banking reshuffle to lead to 650 cuts

Up to 1000 staff from business banking to be moved into retail and commercial business divisions

• Date published: 24.07.2008

SASS clients offered 'satellite Sipp' opportunity

TM Sipp Services will offer clients the opportunity to benefit from protected rights Sipps

• Date published: 24.07.2008

Origen appoints new director

IFA Origen has appointed Warren Page as the new director of its client services team.

• Date published: 24.07.2008

FSA bans London over false mortgage applications

FSA mortgage crackdown continues as another east London broker gets banned

• Date published: 24.07.2008

Gov't must face its responsibilities, says Thomson

Equitable Life's current chief executive says the government must accept its share of responsibility over the failings of the government regulators to properly monitor the mutual

• Date published: 24.07.2008

'Massive dose of hindsight' over actuary's failings

The government actuary's department failed in its scrutiny of Equitable Life, according to the parliamentary Ombudsman report.

• Date published: 24.07.2008

Parties urge gov't to uphold Ombudsman's findings on compensation

Conservatives say policyholders cannot reasonably expect to receive payments for the full losses suffered

• Date published: 24.07.2008

Report identifies a decade of regulatory failure

The Parliamentary Ombudsman publishes its report into Equitable Life

• Date published: 24.07.2008

EIS will eclipse VCTs as tax changes kick-in - Oxford Capital Partners

EIS investments will soon overshadow VCTs thanks to recent tax changes in the 2008 Budget, says Oxford Capital Partners

• Date published: 24.07.2008

Almost half of DB scheme will shut their doors within 10 years, claims Watson Wyatt

Pension Plan Design Survey 2008 predicts that only only 4 per cent of DB schemes will be open to future accrual by 2018

• Date published: 24.07.2008

Ombudsman's report builds on Lord Penrose's catalogue of errors at Equitable Life

Equitable Life "was the author of its own misfortune" according to the 2004 Penrose report

• Date published: 24.07.2008

Majority to lose up to £64,000 to IHT, claims Life Direct

According to latest figures more than 32m people will miss out on £2bn in terms of IHT

• Date published: 24.07.2008

Focus zooms on wraps and platforms

Focus 360 to ease portfolio management for intermediaries and providers

• Date published: 24.07.2008

Nearly 100 staff could go in Axa reshuffle

Impact of merger with Winterthur is leading to the potential loss of 170 positions, although 100 new positions could be created

• Date published: 24.07.2008

Lending levels drop by third within a year, claims CML

Lending in June drops to £23.8bn, which is down 32 per cent on the same month last year

• Date published: 24.07.2008

ifs School of Finance readies its advanced adviser diploma

Qualification set to be introduced in October and November

• Date published: 24.07.2008

Spanish property now comes at a big price

Spanish property buyers need to be prepared to keep their investors "long term" in order to make money from the ailing market, experts have claimed.

• Date published: 24.07.2008

TMW to offer large loans up to £5m

Advisers with high net-worth clients stand to benefit

• Date published: 24.07.2008

Deutsche Bank sees drop of European ETFs

Equity-related business falls while fixed income and commodities continue to grow

• Date published: 24.07.2008

Grey cuts paperwork with online proposition

Software set to cut application times

• Date published: 24.07.2008

Lifesearch taps Royal Liver for life cover distribution

Royal Liver will be the next life company to offer Lifesearch’s Real Life Cover.

• Date published: 24.07.2008

Guide helps firms' pension liability transfer

Hewitt Associates report eases the decision of whether a buyout is the right step

• Date published: 24.07.2008

Pisces technical director goes to the top

Pisces has appointed Catherine Williams, its former technical director, as it current chief executive.

• Date published: 24.07.2008

Rensburg appoints Ring as director

Rensburg Sheppards Investment Management has appointed Chris Ring as its senior investment director in its London private client team.

• Date published: 24.07.2008

Nucleus appoints Smith to head technology

Andrew Smith has taken over as chief technology officer at Nucleus Financial Group

• Date published: 24.07.2008

FSA considers disclosure rule changes

The FSA is to consult on changes to the disclosure and transparency rules

• Date published: 24.07.2008

FSA censure for Mandrake director

The FSA has censured Mandrake Associates Limited (MAL) for serious failings in the way it handled complaints about the mis-selling of mortgage endowment policies.

• Date published: 24.07.2008

Savers in dark over inflation and tax

Nearly a third of British savers remain ignorant about the effects of inflation and tax on their savings, according to research by National Savings & Investments.

• Date published: 24.07.2008

Regulator delays pensions longevity proposals

The Pensions Regulator announcement to impact scheme valuations and follow-up recovery plans

• Date published: 24.07.2008

Standard website targets 2012 reforms

Website aims to keep employers up-to-date on pension reforms

• Date published: 24.07.2008

Race floats Lighthouse’s boat

Lighthouse raises £1000 at Wimbledon Park event

• Date published: 24.07.2008

Paragon in takeover talks with private eq

Buy-to-let lender Paragon has confirmed it is in talks with potential buyers, following a rocky few months.

• Date published: 24.07.2008

Sub-prime losses lead to job cuts at Prestbury

Outlook for 2008 remains 'extremely challenging' says Prestbury

• Date published: 24.07.2008

Mortgage industry put on the rack

Twin spectres of crackdown on fraud and a review of their ability to provide ‘suitable outcomes’ stalking advisers

• Date published: 24.07.2008

IFAs ready for consolidation push

Aifa says sector is going through a period of consolidation that will lead to bigger and more financially robust firms.

• Date published: 24.07.2008

Trustees brand Scot Widows as 'negligent'

Trustees of a Scottish Widows pension fund have initiated legal action against the Lloyds TSB-owned pensions giant following allegations of "negligent advice".

• Date published: 24.07.2008

FSA summit set to plug Thoresen’s ‘advice gap’

Delegates debate delivery of government-backed money guidance for the less well off.

• Date published: 24.07.2008

Ombudsman points the finger at regulatory failure

Parliamentary ombudsman says the government should set up a fund to compensate policyholders

• Date published: 24.07.2008

Structured products still attract investors

Sales of structured retail investments are on track for record sales

• Date published: 24.07.2008

Disappointment at results of insurance claims review

The Association of British Insurers (ABI) has slammed the result of a government consultation into insurance claims, claiming the outcome will not help brokers, insurers or claimants.

• Date published: 22.07.2008

Edeus offers incentive to redeem mortgages early

Edeus is funding the expansion of its new Asset Quality Assessment arm by giving selected borrowers incentives to redeem their existing mortgage early

• Date published: 22.07.2008

Stroud & Swindon unveils niche BTL product

Stroud & Swindon has launched a "niche" buy-to-let (BTL) product which allows buyers to remortgage immediately on ownership.

• Date published: 22.07.2008

Paragon in talks about potential takeover

Buy-to-let lender Paragon has confirmed it is in talks with potential buyers, following a rocky few months.

• Date published: 22.07.2008

Pensions Regulator delays changes to longevity treatment

The Pensions Regulator has announced that it is to delay the introduction of changes to the way longevity is treated in the scheme funding regime.

• Date published: 21.07.2008

Dunfermline rolls out equity release offering

Dunfermline Building Society is rolling its new equity release product out to the retail market today (21 July), following a successful launch to the introducer market earlier in the year.

• Date published: 21.07.2008

European equity ETFs decline: Deutsche Bank

Total European equity related assets under management for exchange traded funds fell by 1.7 per cent to £54.5bn last week, according to research by Deutsche Bank.

• Date published: 21.07.2008

HBoS to axe 650 staff as it streamlines banking division

Halifax Bank of Scotland (HBoS) is set to axe 650 jobs as it aims to streamline its retail and corporate banking division over the next 18 months.

• Date published: 17.07.2008

Programme to test advisers' compliance with TCF

IFAs are set to have access to new software to test their businesses' compliance with the Financial Services Authority's (FSA's) treating customers fairly (TCF) guidelines.

• Date published: 17.07.2008

CII appoints Trevor Matthews as president

The Chartered Insurance Institute (CII) has elected a new line-up of officers for 2008-09 at its annual general meeting (AGM) today (16 July).

• Date published: 16.07.2008

Jupiter launches India Fund

Jupiter has launched a India Fund (SICAV), as it looks to harness growth in emerging markets.

• Date published: 16.07.2008

Zurich expands pension and investment fund range

Zurich has introduced an additional range of funds across its pension and investment proposition, including 18 funds through the Sterling Bond and 22 new funds across its Sterling mutual funds proposition.

• Date published: 16.07.2008