500,000 stand to lose in row over '2bn pounds sterling pension errors.'

Article Abstract:

Moves by the Independent Financial Advisers Association (IFAA) to instigate a judicial review of instructions to financial advisers from the Securities and Investments Board (SIB) to contact clients who were wrongly advised to move out of company pension schemes could lead to many people missing out on compensation. Independent financial advisers fear that they could face large compensation costs if the SIB instructions are not overturned. They have been warned by their professional indemnity insurers that contacting clients who have been wrongly advised could invalidate their insurance cover.

Laws, regulations and rules, Investment advisers

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Abbey National makes 1.4bn pounds sterling ScotAm offer

Article Abstract:

Mutually owned life company Scottish Amicable has received an unexpected takeover bid from Abbey National worth up to 1.4 billion pounds sterling. Some observers believe that this will spark off a bidding battle for Scottish Amicable, ending almost certainly in the takeover of the company. Scottish Amicable is currently looking urgently at ways of avoiding being taken over by Abbey National, but it is felt that shareholders are likely to accept the offer.

Management, Planning, Insurance industry, Abbey National PLC, Life insurance industry, Scottish Amicable Life Assurance Society

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How to make enemies and influence people

Article Abstract:

Colette Bowe, chief executive of the Personal Investment Authority (PIA), has had to show great determination to succeed in the male-dominated financial services industry, and has also had to deal with extensive criticism from independent financial advisers. She has shown real commitment to introducing the necessary measures for investor protection, and is working hard to improve the image of the financial services industry.

Officials and employees, Interview, Independent regulatory commissions, Bowe, Colette

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