UK: PRUDENTIAL'S STAKEHOLDER SELLING CRITICISED
Article Abstract:
Prudential has been accused by a competitor of creating stakeholder pension shells for employers who contact the company's information helpline, with the employers subsequently receiving material indicating the Pru has been designated their provider. A complaint against the activity has been lodged with Opra as the initial employee consultation stage is omitted, contrary to stakeholder procedures. The incident occurs because the designation line is the same as the information line, but only a few people have been affected, claims a Prudential official. The FSA claims it will investigate any cases where employers have been misinformed.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: ABI CONCERNED ABOUT STAKEHOLDER CONFUSION
Article Abstract:
The Association of British Insurers (ABI) has made a submission to the Financial Services Authority, expressing its concern that consumers will be confused about advice on stakeholder pensions from tied agents and the promotion of stakeholder pensions by unauthorised companies. The ABI wants an amendment to proposals on the relaxation of polarisation.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: GOVERNMENT AMENDS STAKEHOLDER RULES
Article Abstract:
New changes to the UK stakeholder pension scheme rules will be introduced from 14 February 2001 and will allow the product to be offered by unit trust companies. The amendments will allow OEIC providers to register with OPRA's 26-strong stakeholder registration list.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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