View more on these topics

&#39Anti-euro stance is blocking business growth&#39

Reluctance to adopt the euro has replaced regulatory obstacles as the biggest challenge to UK fin- ance companies breaking into Europe, says economist Lord David Curry.

The Labour peer and City University dean of business says that, with the developments in Brussels to foster the growth of a Europe-wide market, regulatory concerns are no longer holding back UK providers.

He believes if the Government adopted the euro, retail financial services companies would find it easier to sell products to other member nations.

Curry says once companies do start to establish more of a presence on the Continent, they will not have to spend big amounts of money building brand awareness but will rely instead on establishing relationships with European companies along the lines of the proposed multi-ties in the UK.

Curry says: “Regulatory barriers were enormous in the past. But now these barriers are becoming less important, currency divisions and consumer preferences start to become more important.”

Autif director of communications Anne McMeehan says: “We do not agree with that. Our industry is already able to operate in multi-currencies. We think the most important problem is if the UK ignores Brussels on the regulatory front.”

Recommended

Opra publishes stakeholder guidance

The Occupational Pensions Regulatory Authority is publishing technical guidance on arrangements for direct payments by employers to personal pension plans and stakeholder schemes. The guidance note explains the duties of providers and employers and the procedures for reporting to Opra. It also gives details of the timescale for making payments, and sets out how employers […]

Friendly fire

You are probably recommending Isas to your clients in the run-up to the end of the tax year but what about tax-exempt friendly society savings plans? It could be a case of £7,300 of tax-advantaged investment instead of £7,000. Your clients – and your business – could be missing out. The weeks leading up to […]

Pet shop ploys

The end of the financial year is looming and this is a good opportunity for advisers to help clients consider what tax planning activities should be undertaken before April 6. The first type of planning to be considered is income tax planning. Given the level of advertising across almost every type of media, it would […]

Waiving goodbye

The end of the old tax year and the beginning of the new one is always a time when clients are likely to need help with financial planning, especially in the area of pensions. The end of the tax year 2000/01 sees the abolition of some important benefits and as such it represents a considerable […]

Boosting our annuity strategies

Targeting annuity purchase in lifestyle strategies isn’t anything new but we’ve just lifted the bonnet and injected an enhancement shot into the end-point of these solutions. The recent volatility has shot short-term volatility into equity markets and painted a very turbulent backdrop but we’re also equally faced with a stressed fixed interest environment. This can […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com