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AITC welcomes treasury announcement

The AITC has welcomed the Treasurys view that regulation of investment trusts should remain in its current form following its consultation on the issue.

The consultation arose following a Treasury Select Committeee recommendation in its report on the split capital investment trust crisis published in February 2003. Since then the FSA has consulted on and made amendments to the listing rules and the conduct of business rules. The AITC has also introduced its own corporate governance code.

AITC director general Daniel Godfrey says: Investment trusts are robustly regulated investment vehicles and the listing rules, company law and tax law provide an effective regulatory framework which is flexible enough to adapt quickly to any new threats which might emerge.

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