Treasury

The Treasury has published a consultation paper linked to the independent review of the actuarial profession sparked by criticism contained in the Penrose Report.

Proposals to limit insider dealing and market manipulation have been outlined by the Treasury and FSA in a joint document consulting on how to implement the EU Market Abuse Directive in the UK.

The Treasury has today decided to raise the charge cap on stakeholder pension products to 1.5% for the first 10 years they are held, reverting it back to 1% therafter.

Undoing the 1% price cap on stakeholder products would only enable firms to maximise revenue from higher income earners without encouraging low- and medium-income earners to save more, warns the Consumers' Association.

The Consumers' Association says the Treasury figure of 700,000 endowment policyholders who are now time-barred from making complaints is more than reason enough to demand an inquiry into when the FSA and Treasury knew so many people would be denied redress....

Around 700,000 endowment mortgage policyholders have been ‘time-barred' from making a mis-selling complaint to the Financial Ombudsman Service, alleges a Treasury report.

Britain's financial services industry must recognise the big changes set to be unleashed by a pending wave of directives, regulations and other measures, the Treasury says.

The Treasury Select Committee says it will refer financing of the Association of IFAs to the Office of Fair Trading for potential conflict of interest, after the AIFA admitted up to 85 % of IFAs' compensation levy costs into the FSCS are cross-subsidised...

The Treasury has announced National Savings & Investments will fall under the complaints regime of the Financial Ombudsman Service in order to harmonise complaints procedures with other financial services providers.

Home reversion plans will soon be policed by the Financial Services Authority but are unlikely to be included in the first wave of M-Day regulation, the Treasury has just announced.