11th October 2011

News from Compliancy Services‏

Eurozone Crisis is Likely to Affect UK Mortgages for a Year

The crisis in the eurozone is already affecting UK mortgage lenders' funding costs and is likely to restrain mortgage lending for the next year, according to Capital Economics...

Intermediary Complaints Up 19%

The number of complaints against IFAs, advisers and execution-only intermediaries, have increased 19%...

Another Fine and Ban for UK Mortgage Broker

The FSA has published a decision notice, indicating that it has decided to ban and impose a fine on the director of Ambergate Business Services Ltd, a mortgage broker based in London...

Joint Committee on the Draft Financial Services Bill

The FSA have published a memorandum to the Joint Committee on the Draft Financial Services Bill, highlighting those areas the committee may wish to consider as part of their scrutiny and noting points on which the FSA would find their views helpful...

PS11/11 - Use of non-EEA rules in Calculating Group Capital Requirements

The FSA has published feedback on CP11/6 and the final rules...

UBS Trading Losses: FSA and FINMA to Launch Investigation

The FSA and FINMA are launching a comprehensive independent investigation into the events surrounding the trading losses occured by UBS AG in its London operations...

Credit Creation and Social Optimality - A Speech by Lord Turner

Lord Turner said that the financial crisis had in part derived from new features of the financial system, such as trading in complex credit securities and deriatives...

FSA Policy Development Update No. 139

The FSA have changed the name of the Handbook Development Newsletter to Policy Development Newsletter...

FSCS Scraps �£4m Advertising Campaign

It is reported that the FSCS is scrapping its �£4m advertising campaign after it failed to raise awareness of the scheme...

OFT Publishes Mental Capacity Guidance

The OFT has published guidance for businesses when they are considering granting credit to people who might not have the mental capacity to make informed borrowing decisions...

Insurance Industry Launches Annuity Initiative for Customers

People approaching retirement will find it easier to shop around to get the best possible retirement income under a new intiative launched by the ABI...

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