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TCF deadlines loom, warns Ifs School of Finance

The Ifs School of Finance is calling on brokers to ensure they are prepared for the Financial Services Authority’s Treating Customers Fairly deadline.

Brokers must have appropriate measures in place to test whether they are treating their customers fairly by March 31, reminds the body.

And all firms are expected to be able to demonstrate to the FSA that they are consistently treating their customers fairly by the end of December 2008.

Mark Roberts, head of financial regulation at the body, says that there has been a steady increase in the number of people registering to take one of its range of TCF qualifications, especially the Certificate in Regulated Customer Care.

He believes this shows that firms increasingly recognise that formally assessed knowledge and understanding of the principles and practice of TCF provides evidence of the action taken to embed TCF at all levels in an organisation.


BM Solutions scraps self-cert adverse deals

BM Solutions has withdrawn its self-cert sub-prime product range to cut its business volumes.It has also reduced the maximum LTVs on its status sub-prime deals from 90% to 80%.Tim Hague, managing director of BM Solutions, says: “It’s not a credit issue, it’s about managing volumes.“We tried using pricing as a lever and it didn’t work, […]

Unity is strength

If approached in a positive way, European proposals for a unified mortgage market could mean big opportunities for the UK industry, says Richard Farr

Lenders pull deals and increase rates en masse

UK lenders have been withdrawing products and increasing rates en masse over the last two days to combat a massive increase in business volumes.Yesterday evening Scottish Widows Bank announced the suspension of a number of its ranges to deal with unexpected rises in business volumes.Meanwhile, BM Solutions withdrew three products from its mainstream line from […]

Recruitment to financial services down 22%, says CII

Results from a recent survey by the CII Group have found that recruitment levels are down in the financial services sector with 22% of employers saying UK candidates lacked the right qualifications.A further 16% could not find UK candidates with the right skills.CII is warning that the industry needs to take apprenticeships and graduate recruitment […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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