FSA data paper will see more turning to banks for advice
The Financial Services Authority’s (FSA) consultation paper on data collection will discourage saving, restrict advice availability and overly burden small businesses, PM has heard. Issues arising from the retail distribution review (RDR) rules on adviser charging and proposals for protecting consumers through collating data on complaints are outlined in the paper.
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FSA regs discourage informed decisions
Financial Services Association (FSA) regulation is a barrier to people engaging in their pensions, according to Aviva head of investments Anthony Rafferty. Speaking during a speed-debate event hosted by Aviva, Rafferty criticised the regulations in place to protect consumers, warning they could discourage people from making properly informed decisions about how to save for retirement.
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Graves:levy should be assessed according to the risks posed |
AMPS queries levy
Levy criteria
AMPS, the Association of Member-directed Pension Schemes, is calling for the Financial Services Authority (FSA) to change the categories used to assess the Financial Services Compensation Scheme levy, claiming self-invested personal pension (Sipp) providers have been given a raw deal.
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Providers air transparency fears over cash rebate ban
Cash rebates
Pension providers are campaigning to have the Financial Services Authority’s (FSA) proposed ban on passing cash rebates from fund houses to investors’ platform cash accounts overturned.
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ETV duties too far, admits regulator
ETV guidance
The Pensions Regulator privately admits its guidance around enhanced transfer values (ETVs) has put “onerous responsibilities” on trustees.
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2012 heralds GPP charging by FSA
Group personal pension (GPP) providers face a post-2012 crackdown on charging members for transferring between schemes.
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FSA continues IFA crackdown
Advisers who do not fully understand the pensions transfer system they use are in danger of choosing inappropriate products for their clients, Prudential has cautioned.
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FSA ‘lacks vision’ without Sants
The news of Hector Sants’ resignation as chief executive officer of the Financial Services Authority (FSA) has cast further doubt on the future and effectiveness of the regulator.
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Matthews: welcomes transparency |
Advisers to lose payments for group pension sales
Group personal pensions and group stakeholder pensions cannot be sold by advisers on a commission basis from 2012 under new guidelines.
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Melvin: those desperate for cash may be persuaded to unlock early |
Unlocking pensions sparks mis-selling fears
The run-up to the change of the pension access age could ignite a mis-selling timebomb, Carl Melvin, of Affluent Financial Planning, has warned.
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FSA branded a failure, but few find reason to ditch regulator
More than 70% of independent financial advisers (IFAs) believe the Financial Services Authority (FSA) has been a failure, though there is limited appetite for the Conservative proposals to scrap it, PM and YouGov research has revealed.
A poll of 280 IFAs from across the country found 41% strongly agreed and 30% agreed that the FSA had been a failure.
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Graves: small Sipp operators pose little threat to FSA aims |
Shortcomings of small Sipp firms a cause for concern
The latest Financial Services Authority (FSA) report into small self-invested personal pension (Sipp) providers could have wider implications on the issue of mis-selling, Mattioli Woods has warned.
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UPDATE: FSA publishes Turner Review of banking crisis
Financial industry professionals have praised Lord Turner’s review of the banking crisis which called for “major changes” to regulation.
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Wolstenholme: dangers in shorting |
Lifting ban on short selling may trigger trustee lawsuits
Industry bodies have come out in support of the lifting of the ban on short selling on January 16. But a leading legal firm has warned against a possible backlash against trustees.
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