Financial services firms that sell Payment Protection Insurance (PPI) have been told they must improve their selling methods.
The Financial Services Authority (FSA) demanded urgent action after visiting firms and a mystery shopping exercise.
About a third of the 45 firms surveyed sold policies on which customers could not claim or which gave limited cover.
PPI is […]
So it is “no bad thing” if students abandon philosophy, literature and history and turn to nursing, social work and engineering.
That was the view of Higher Education Minister Bill Rammell in response to the latest UK university applications figures.
These appeared to show a “top-up fees” effect, with many universities showing a big decline […]
Hector Sants has been appointed chief executive of the Financial Services Authority (FSA), the City regulator.
Mr Sants, previously a director at the FSA, replaces previous chief executive John Tiner on 20 July.
As chief executive Mr Sants will be the public face of the FSA, responsible for protecting consumers and increasing knowledge of finance.
The FSA has […]
The scandal, which involved incentive payments made to consultants, apparently in order to win contracts in Iran, also led to the departure of the former chief executive Olav Fjell.
“I hope, and I also believe, [this scandal] proves to be a fairly unique occurrence, and that it is not a question of a corruption culture,” Mr […]
The chief executive of a Northern Ireland quango has received a salary of more than 213,000 - almost 26,000 higher than the prime minister.
David Gavaghan also received 34,287 in national insurance and 15,213 in pension contributions as head of the Strategic Investment Board (SIB).
His 152,131 salary and 61,206 bonus was defended by the Office of […]
Schools will be able to teach personal finance to 14-16 year olds from September this year.
The Institute of Financial Services has launched two new qualifications for them - a foundation certificate and an intermediate certificate.
The Institute will supply the curriculum, teaching materials, and exams for schools to offer their pupils alongside GCSE topics.
The courses will […]
Six million people are to get a letter from their pension provider advising them to review their move to contract out of the State Second Pension (S2P).
People will be told to reassess if they would be better off paying into the S2P rather than their private pension.
The pensions industry said the letter was part of […]
The Halifax bank has been criticised by the advertising watchdog over a “misleading” mailing to customers.
The mailshot, sent to 120,000 mortgage holders with subsidiary Intelligent Finance, asked customers to reveal details of their contents insurance.
The Advertising Standards Authority (ASA) upheld a complaint that Halifax had “no good reason” to request details of customers’ contents insurance. […]
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