New knight to save us from chaos
Article Abstract:
The UK government plans to appoint a Financial Services Ombudsman who will bring together eight separate complaints systems currently operated by financial advisers, banks, insurance companies, building societies and investment firms. The new system will be regulated by the Financial Services Authority (FSA), with the new ombudsman also covering all companies regulated by the FSA. It is hoped that this approach will overcome problems created by the rather complex nature of the current regulatory system.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Financial advisers face Web fee drop
Article Abstract:
The rise in Internet usage and the growth in the number of personal finance sites will lead to a significant fall in the cost of financial products as it becomes more common to use the Internet to purchase these products. The Internet is already pushing down initial charges and commissions for many financial products, partly because those using the Internet are generally more serious about purchasing than those replying to any other type of advertising.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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Watchdog services to merge
Article Abstract:
Mixed views are being expressed in the UK about the decision to merge six financial services Ombudsmen to create the Financial Services Authority. Some observers believe that one large regulatory authority will not necessarily be more efficient than six smaller ones, and fear that the cost of a larger, more bureaucratic operation will be passed on to consumers. Others argue that there is a need for uniformity in the regulation of financial services.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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