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CA says Sandler simplification will not prevent mis-selling

The Consumers&#39 Association says that FSA proposals to enact lighter touch regulation for face-to-face and telephone sales of simplified investment products will not prevent mis-sellling.

Responding to an FSA discussion paper, Delroy Corinaldi, public affairs officer for the CA, says: “Each option put forward by the FSA must be judged against whether consumers will be faced with another mis-selling scandal in the future. There is scope for mis-selling Sandler products just like any other.”

He adds: “The FSA must grasp the opportunity to put in place a suitable and appropriate sales regime that addresses the imbalance of knowledge between consumers and industry and fufills its statutory duty to protect consumers.

“We are urging the FSA to ensure that suitable regulatory protection exists and that the financial services industry, irrespective of what product it is selling, will be held accountable should it fail consumers again.”


Tenet buys Capital Planning as part of strategic investment plan

IFA group Tenet has bought Capital Planning UK for an undisclosed sum, in line with its strategy to invest in members and clients of its subsidiaries CPUK has a 100-strong team of IFAs and support staff of 30 operating from six offices in London and the South East. Its sales for the current year are […]

Opinion divided on stock market recovery

Opinion is divided as to whether equity markets will rally or decline further in the New Year, says market expert Surrenda Link. Whatever happens to the FTSE 100, there will be consequences for the housing market. A rally in share prices could take investment cash away from buy-to-let. But if advisers cannot predict the bottom […]

Self-cert makes for best selling specialist loans

Self-cert mortgages are the best selling non-standard mortgage product, a survey of 1,750 introducers by Sun Bank reveals. December&#39s survey also finds brokers tend to recommend discounted as opposed to fixed rate products because of the pricing differential and their view on interest rates. But fixed rate products remain popular with clients who want certainty […]

Principality director to retire

James Jamieson, financial director of the Principality Building Society, will retire in March 2003. Jamieson has been with the Society for almost 24 years, having joined as assistant secretary in charge of the accounts department. He was appointed general manager of finance in 1986 and finance director in 1992. He oversaw the development of the […]

Reforming India: just the beginning

By Kunal Desai, Neptune India Fund

As global investors continue to scour emerging markets through the lens of reform potential, India shines bright. Indeed, we think it can sparkle even brighter. We anticipate India’s self-imposed 10-year ‘policy holiday’ to turn into one of the most pro-growth and pro-investment policy calendars seen in Asia in years. The Indian electorate has engineered a historic verdict. We now have the strongest Indian government since 1984, with the pro-market Bharatiya Janata Party (BJP) achieving an absolute majority for the first time in the party’s history.


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