The Upper Tribunal has upheld a decision by the Financial Conduct Authority (FCA) to fine investment adviser Westwood Independent Financial Planners £100,000 for mis-selling geared traded endowment policies (GTEPs).
It's our round-up of the stories your clients may have read in the nationals over the weekend and this morning...
Payouts on 25-year endowment policies have dropped below £23,000 for the first time, with the return for saving £50 a month so low savers would have done better in cash.
Legal & General's with-profits fund generated double digit returns during 2009.
The Department for Constitutional Affairs has proposed claims management firms that deal with endowment compensation claims should be required to have professional indemnity insurance.
Most IFAs believe the Financial Services Compensation Scheme's decision to keep the levy high for their contribution group is "outrageous", according to IFAonline's latest industry straw poll.
The latest FSA report on mortgage endowment complaints handling is a story of two halves, according to evidence put forward by the regulator.
It always bemused me when Equitable Life was called just that. Synonyms to the name ‘equitable' include fair, even-handed, reasonable, and just. With that in mind, perhaps someone could explain exactly how equitable the Financial Services Compensation...
The Financial Ombudsman Service has stated it will not be bullied by legal threats and will only overturn endowment time-bars where "exceptional circumstances" exist.