Business and Other Briefings

FSA: Both the Smaller Businesses Practitioner Panel and the Financial Services Practitioner Panel have welcomed the publication of the FSA's document entitled: Principles-based Regulation – Focusing on the Outcomes that Matter

Roy Leighton, Chairman of the FSPP, said: "As our 2006 survey highlighted, the industry has been calling for the FSA to provide greater clarity about what it meant when it talked about Principles-based Regulation; what it expected of regulated firms in that context; and what firms could expect from the FSA.

At the strategic level, this document provides a helpful framework and focus for senior management to drive this shift in emphasis forward within their firms”.

SBPP press release ~ FSPP press release ~ Principles-based Regulation – Focusing on the Outcomes that Matter ~ Smaller Businesses Practitioner Panel ~ Financial Services Practitioner Panel ~ FSA's Small Firm web-pages

FSA: The Financial Services Authority (FSA) has said that firms must improve the standards of cold calling when selling general insurance over the telephone to ensure they are treating their customers fairly. A review found the standard of sales where the customer called the firm was generally acceptable, although the disclosure of significant exclusions & limitations could be improved.

However, the standard of sales was poor when insurance policies, such as personal accident insurance, health cash plans and accident and sickness insurance, were sold through cold calling.

Press release ~ General Insurance Telephone Sales - Results of thematic work: Examples of good and poor practice ~ Are you covered? : FSA Money made clear – guide

Pensions Regulator: Industry-wide views on the regulation of defined contribution (DC) schemes have been published by the Pensions Regulator following its recent consultation, alongside a discussion paper on pension scheme governance.

Identifying key issues for DC schemes - including administration, investment choices, charges, decisions on retirement choices and member awareness - the consultation document set out proposals on how DC schemes will be regulated.  The consultation responses will inform guidance setting out how the Pensions Regulator will regulate DC schemes which will be published in due course.

The discussion paper on pension scheme governance highlights the pivotal role of education and the importance of good governance in running all schemes.

Press release ~ DC consultation response paper ~ Governance paper  ~ Medium Term Strategy ~ The Pensions Regulator

HMRCRevenue & Customs Brief 37/07

This Brief gives details of an article :Introduction of biofuels simplification.
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