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Lambeth and Portman merger confirmation hearing to be held in July

The Financial Services Authority has announced the arrangements for the hearing of the proposed transfer of the engagements of Lambeth to Portman.

The confirmation hearing will be held at the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS on Monday July 24 2006 starting at 2.00pm.

The hearing will be conducted on behalf of the FSA by Eric Engstrom, a manager in retail firms’ division.

Eight people have made written representations to the FSA and three notices of intention to make oral representations have been received.

Those making representations and the societies themselves will have the right to ask that all or part of it should not be public. Therefore the hearing will begin in private to give an opportunity for objections to be made to holding the proceedings in public. If the FSA does not uphold any such objection, the public and the media will be admitted before the main proceedings begin.


Millfield sold to The Money Portal for 10.6m

Struggling IFA group Millfield has been sold to financial services group The Money Portal for 10.6m.At least 3.4m of this is payable over the 12 months following completion, dependent upon certain performance milestones having been met.The directors of Millfield have announced that binding heads of agreement have been exchanged under which an option will be […]

FSA increases fines by 23%

The Financial Services Authority has increased the average size of its fines this year by 23%, as it tries to crack down on wrong-doing in the financial services sector.Its annual report, publsihed today shows it levied 17.43m in financial penalties during the year.However 13,960,860 was paid by Citigroup Global Markets Limited and 3,469,140 by 16 […]

Brokers back packagers

Brokers and IFAs think packagers still play an im- portant role in the mort- gage industry, according to research from Platform. A poll of over 200 mortgage brokers and IFAs found that 62% would submit the same amount of business or more to packagers over the next 12 months. The research shows that packagers remain […]

Intrinsic launches with 300 advisers

Intrinsic Financial Services, the new multi-tie network headed up by the former global CEO of Zurich Financial Services, has officially launched.The network already boasts some 300 appointed representatives purely from word of mouth, providing holistic advice on a wide range of products and services from some the UKs market leaders including life, pensions, investment, general […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk


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