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ABI welcomes Treasury approach on broking

The ABI has welcomed today&#39s Treasury announcement on its approach to bringing clarity and accountability to the payment for broking services by pension funds and other investors.

Consultation on this aspect of the Myners report identified what were described as complex competition issues which the Government believes should be tackled

ABI head of investment affairs Peter Montagnon says: "The great advantage is that we shall now have a much better overall picture of what is really going on, and an opportunity to develop and implement improved structures to ensure the availability of clearer information about transaction costs."

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Talkback

“Yes. The one per cent regime will enable banks to work out ways to sellthat are more cost-effective than traditional methods.” Kim Barrett, KS Barrett & Associates “Quite possibly. The bancassurers will project themselves as the boys tobe with, offering the whole market, when in fact they won&#39t be.” Richard Millen, Wealden (South) IFA “No. […]

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