Lloyds Banking Group (LBG) and Zurich have signed a deal under which LBG will acquire Zurich's UK workplace pensions and savings business with assets under administration of more than £15 billion and circa 500,000 customers.
The deal includes a multi-year, exclusive distribution partnership for Zurich to provide group life protection solutions to certain corporate clients of LBG's Commercial Banking services As part of the transaction around 200 Zurich employees - including key management, relationship managers, technical experts and operations staff, located primarily in Cheltenham - are expected to transfer to LBG under a TUPE arrangement. The acquisition is expected to partially close in the first quarter of...
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.
Scott Cadger runs through the four most common reasons people give for not taking out critical illness cover - and some suggestions on how advisers can offer reassurance on each in conversations with clients
The Financial Ombudsman Service (FOS) has sought to provide clarity regarding any potential confusion over the products advisers should recommend to clients to cover a decreasing loan or mortgage.