16th March 2011
Compliancy Services: March Newsletter
Gender Directive
The European Court of Justice has ruled against any legal opt-out which would have allowed insurance companies to use gender as a rating factor...
Inflation Rate to Remain High Until Well into 2012
Mervyn King believes that the inflation rate could remain above the 2 per cent target "until well into 2012"...
FSA Network Business Model Warning
The FSA has warned that the network model presents a potentially growing risk of consumer detriment, as a result of weaknesses with systems and controls and pressure on income...
Possible Loan-to-Income Limits
The Treasure has launched a consultation paper on the role of the Financial Conduct Authority (FCA)...
Lloyds Worst Culprit Again on Complaints
Lloyds Banking Group has once again topped the league of high street banks with the highest level of complaints, between July and December 2010...
COBS Projection Rules for Non-MiFiD Products
The Projection rules requirement has been a constant feature of conduct of business rules and its application to 'packaged' products...
Lender Moves on Suspected Fraud by Mortgage Brokers
LLoyds TSB is reported as having removed some 900 individuals over the past four years from it's "approved panel" of brokers, including 300 in the past year alone and has reportedly admitted that a large number of those brokers were struck off after uncovering suspected fraudulent activity...
A New Approach to Financial Regulation: Building a Stronger System
The Treasury has produced a further consultation paper, which builds on the previous consultation paper, and the published summary of consultation responses in connection with the new regulatory framework...
Hector Sants says Further Action Will be Taken Against Worst Keydata Offenders
Hector Sants has moved to reassure adviser firms the worst Keydata offenders will face further regulatory action, including being fined...
FSA Standing Data and Firms Online
FSA regulated firms are reminded of the requirement to check the 'standing data' information the FSA hold about them at least annually...
CML Calls for New Consultation on Mortgage Market Review
The CML has called upon the FSA to undertake a new, full consultation on all of the related policy proposals, together with draft rules in connection with the Mortgage Market Review...
FSA can Shorten Suspensions After Rule Change
Individuals fined and suspended by the FSA can now qualify for shorter suspension as well as a reduced fine under changes made to its settlement discount scheme...
British Economy Contracts 0.6% in Q4
The contraction in the UK economy in the last quarter of 2010 was slightly worse than previously estimated...
Serious Fraud Office (SFO) Faces up to Change
The CPS will take over the handling of complex fraud cases whilst the new National Crime Agency is all set to carry out the SFO's investigative role...
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