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News

TCF

Adviser anger over Abbey Life automatic annuity purchase

An IFA is fighting to get a client's money back after Abbey Life automatically annuitised their pension pot without their knowledge.

clock 12 December 2012 •

Income

Aviva: over-55s face two decades of debt

About a quarter of over-55s will spend at least two decades of their 'winding down years' saddled with some debt, Aviva research suggests.

clock 12 December 2012 •

Economics / Markets

New Bank governor considers scrapping inflation-targeting

Incoming Bank of England governor Mark Carney has suggested struggling economies dump inflation-targeting in order to kick-start growth.

clock 12 December 2012 •

Regulation

FSA warns asset managers on outsourcing risks

The Financial Services Authority (FSA) is warning asset managers that outsource activities to external service providers to exercise "care and diligence" when entering into any arrangement, and to ensure they have a "robust" exit plan should something...

clock 11 December 2012 •

Regulation

Northern Rock to refund £270m to customers

Northern Rock Asset Management is to compensate customers who took out loans with the bank a share of £270m, following errors made in paperwork.

clock 11 December 2012 •

Investment

FSA forces new rules on HSBC after record fine

The Financial Services Authority (FSA) is forcing HSBC to improve its money laundering safeguards after the bank was fined $1.9bn by US regulators for breaches, the largest fine paid in such a case.

clock 11 December 2012 •

Investment

Old Mutual boosts sales team with four hires

Old Mutual Global Investors has made four appointments to its sales team, days after Skandia confirmed it is cutting 20% of its sales force.

clock 11 December 2012 •

Wrap/platforms

Skandia: only 8% of clients sign up to adviser charging

About 8% of clients on the Skandia platform are signed up for adviser charging ahead of the provider's 18 December launch of its Retail Distribution Review (RDR)-ready charging model.

clock 11 December 2012 •

Alternative Investments

Green investment firm boss charged with £1.2m fraud

The director of two ‘green' finance firms which allegedly took more than £1.2m from investors has been charged with fraud.

clock 11 December 2012 •

RDR

Addidi Wealth: RDR paperwork 'too confusing' for clients

Retail Distribution Review (RDR) requirements have made paperwork correspondence "too long, confusing and not very intuitive", said one IFA.

clock 11 December 2012 •
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