Standard Life

STANDARD LIFE'S members will for the first time be given the chance to decide what the board of directors' remuneration should be, says this morning's Scotsman newspaper.

SESAME, THE IFA NETWORK, has made the national press this morning, after announcing to the Daily Telegraph it would no longer be selling Standard Life with-profits products.

Standard Life has today announced a £7.5bn reduction in the equity holdings of its £31bn with-profits fund as a result of newly-imposed financial reporting requirements.

IFAs may no longer be able to compare the financial performance of companies against previous years and other firms thanks to FSA realistic reporting changes, suggests Standard Life in a report of its 2003 annual results.

Standard Life customers will in future have to pay a cost for policies with guarantees to reflect the increased reserves the company must set aside, according to statements in the 2003 annual results published today.