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Retirement Plus suspends new cases

Retirement Plus is suspending all new cases as it puts in place additional funding.

Applications cannot be accepted or KFIs generated for new business and it is unable to issue offers on any applications it has been processing.

It will honour cases where an offer has been issued to a customer and
process it through to completion.

It will also refund the valuation fee on any cases submitted but not offered.

The suspension applies to both the Retirement Plus Open Options Property Plan and the Open Options Impaired Life Property Plan.

A spokeswoman for Retirement Plus says the move is necessary while it seeks additional funding.


FSA increases FSCS limits

The Financial Services Authority is to increase the compensation limits for insurance, investment and home finance advice business in the event of a firm failing.

FSA could cap mutuals’ lending

Lord Turner, chairman of the Financial Services Authority, says a tighter cap on commercial lending for mutuals could result from the bailout of failed society Dunfermline.Turner has written to the chancellor Alistair Darling outlining the reasons behind Dunfermline’s downfall, citing its diversification into commercial lending as a main contributor. The letter reveals that in 2008 […]

Cattles suspends shares

Cattles, the parent of Welcome Finance has requested trading in it shares be suspended pending the publication of its audited report and accounts for the year ended 31 December 2008.


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