Treasury

The government response to a European Court of Justice Ruling outlawing gender-based pricing of annuities has made it more likely that a test case will be brought, a lawyer has said.

The Association of Independent Financial Advisers (AIFA) has set out plans to the Treasury on how regulatory fines could be used to transition the Financial Services Compensation Scheme (FSCS) to a pre-funded system.

The government is to announce details of a deferred payment scheme for residential care for the elderly, which will allow councils to lend individuals money to pay for care, then recoup the money when their house is sold after their death.

Pension tax treatment is "hard to justify" and could generate the necessary revenue for long-term care reform according to research.

An MP has branded the Money Advice Service (MAS) as a 'playground bully' for its disruptive influence on the industry and the delivery of debt advice.

The Financial Services Authority (FSA) has admitted it had concerns about the way in which the industry was being asked to fund the Money Advice Service (MAS), although is hand was forced by the Treasury.

The government has confirmed its plans to force banks to ring-fence their retail operations, as well as other measures recommended by the Independent Commission on Banking (ICB).

The Treasury is under so much pressure it should consider getting funding directly from the financial services industry, former cabinet secretary Gus O'Donnell has said.

Adviser trade bodies AIFA and the IFA Centre have both criticised the Money Advice Service in a submission to the Treasury Select Committee.

FSCS FUNDING