FSA

Given the slower pace of August, now seems a good time to reflect on the pressures of running a financial intermediary business.

Financial reporting deadlines set by the Financial Services Authority for all general insurance and mortgage products are "unrealistic" according to a survey of IT managers at financial intermediary firms.

The Parliamentary Ombudsman will launch an inquiry into allegations of misleading guidance issued by the FSA, DSS and DWP.

Endowment policyholders are still being "misled" by insurance firms, alleges a service targeted at policyholders seeking compensation payments.

Generic financial advice can help those consumers who find financial services bewildering and need assistance in identifying their financial needs and making better decisions, suggests an FSA working group.

Research conducted on behalf of the FSA into statutory money purchase illustrations has proved what most people believed beforehand:

One in three pension scheme members are saving more money after receiving the new-style pension statrment explaining exactly how much their pot is worth in today's prices, the FSA says.

IFA responses to the FSA's ‘Treating Customers Fairly' report have not exactly been positive, as many intermediaries might expect.

Current financial practices are now much better than under the former financial services regulatory regime, suggests the Treasury Select Committee, despite evidence suggesting consumers now mistrust financial institutions.

The Treasury Select Committee has backed government plans to launch a range of ‘lighter touch regulation' Sandler products, providing they are sold using the FSA's basic advice regime to counter the prospect of consumer ‘mis-buying'.