Following, no doubt, many hours of meetings and consultations, our regulator is introducing new rules ’to shift behaviour and focus’. In future we’ll have to ‘deliver good outcomes for customers, consider their needs and learn from awareness of what customers experience’. A couple of things here? Would you deal with an adviser who didn’t do any of the above? Surely market forces would quickly sort them out. And, yes, we need laws to say it’s illegal to murder or beat up others. But do we also need rules making it mandatory to be jolly nice at all times? Well, in some cases, yes, but I do think this takes stating the bleedin’ obvious to a new level…
“Reeves backs down on plans to cut ISA limit”
So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.
