Archive for March 20th, 2008

News - Wales: Financial disaster?

Thursday, March 20th, 2008

Smaller insurance premium finance
financial advisers like Treorchy’s Lifestyle Financial Choices tend to be members of a network.

Commissions from insurance companies are paid to IFAs like Lifestyle through the network.

Lifestyle claims that the closure of network company Interlink has cost them 100,000.

David Westcott is a Director of Lifestyle Financial Choices.

Cash inflow to Lifestyle […]

News - Consumer chief takes aim at finance firms

Thursday, March 20th, 2008

Peter Vicary-Smith is the new head of Which, formerly known as the Consumers’ Association.

He replaces Dame Sheila McKechnie, who died in January.

For nearly fifty years, Which has been one of the UK’s most powerful consumer voices.

As National Consumer Week draws to a close and the Financial Services Authority (FSA) prepares to start regulating mortgages from […]

News - Fewer firms face finance censure

Thursday, March 20th, 2008

The number of firms being found guilty of wrongdoing by the Financial Services Authority (FSA) has fallen in 2005, law firm Simmons & Simmons has said.

It calculated that the number of firms censured so far this year is 19, compared with 81 for the whole of 2004.

Late last year the FSA was event extremal finance […]

News - AIG ex-boss avoids criminal case

Thursday, March 20th, 2008

The New York authorities investigating finance home insurance personal tesco
irregularities at insurance giant AIG have dropped criminal charges against former boss Maurice Greenberg.

Attorney General Eliot Spitzer had brought a lawsuit accusing Mr Greenberg of finance insurance job
the firm’s finances to boost its share price.

He has now decided to pursue the action in a […]

News - South Africa empowers black finance

Thursday, March 20th, 2008

Workers and shareholders in South Africa’s financial sector are digesting the impact of a Black Economic Insurance premium finance
charter released late last week.
A feverish recruitment process could be about to take off as a consequence of the reforms, in part because all firms in the sector are expected to require more staff, experts predicted.

“There […]

News - Buffett firm helps with SEC probe

Thursday, March 20th, 2008

US financial regulators have requested information from Warren Buffett’s Berkshire Hathaway group as part of a probe into certain insurance products.

The Securities and Exchange Commission has asked the 1035 annuity exchange finance insurance ira transfer
businessman’s firm to provide documents relating to the sale of “non-traditional” products.

The watchdog is examining finance home insurance personal tesco […]

News - ING bank faces charges in the US

Thursday, March 20th, 2008

US officials have accused ING Groep of failing to properly disclose fees it earned running a $180m (98m) New Hampshire state retirement fund.

Department of insurance and finance say the Dutch bank did not disclose conflicts of interest that may have affected investment choices.

The company denies the charges and said it was cooperating with authorities.

New Hampshire […]

News - Saga in £1.35bn management buyout

Thursday, March 20th, 2008

Holidays-to-insurance company Saga has been sold in a 1.35bn ($2.43bn) management buyout deal backed by private equity firm Charterhouse.

The news comes just a few weeks after the company announced it was planning a share banking career career finance in insurance opportunity opportunity
.

The sale will see staff at Saga receive a one-off bonus of 1,000 […]

News - Stock off-load eases Ambani feud

Thursday, March 20th, 2008

A feud between the two brothers who run India’s largest private firm, Reliance, may be eased by the elder brother’s decision to off-load some stock.

Mukesh Ambani gave up a 12.01% stake in mobile phone firm Reliance Infocomm.

The war of words began last month when he said there were “ownership issues” with younger brother, Anil, hitting […]

News - Reliance unit loses Anil Ambani

Thursday, March 20th, 2008

Anil Ambani, the younger of the two brothers in charge of India’s largest private company, has resigned from running its available car finance insurance quote subsidiary.

The move is likely to be seen as the latest twist in a feud between Mr Ambani and his brother Mukesh.

Anil, 45, has stepped down as director and vice-chairman of […]

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