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Brown to cut FSA red tape

Chancellor Gordon Brown is to slash red tape at the FSA.

Brown told the CBI conference in London this week that as part of cost-saving measures to be included in the pre-Budget report, he will focus on a risk-based approach to financial services and will bring in 10 simplification and deregulatory measures to reduce the burden of information and reporting requirements.

He said: “The measures will cut demands for information, forms and reporting requirements, including cutting disclosures of change of control by 15 per cent and up to 20 FSA consultations each year.”

Brown has asked Neil Davidson, QC, former solicitor general for Scotland, to conduct a full audit of areas where gold-plating of European regulation has led to an additional burden. In a speech which was seen as conciliatory to the business world in the wake of the Department of Trade and Industry’s deal on public sector pensions, Brown said there must be pension reform but debate was needed to ensure it is “sustainable, fair and affordable”.


DB facing the final blow in rebate freeze

The Turner report’s proposal to freeze contracting-out rebate levels is the final nail in the defined-benefit coffin, says Standard Life head of pension policy John Lawson. The schemes would be hit by lower Government subsidies because contracting-out rebates would no longer increase in line with earnings, effectively phasing them out over time. DB schemes have […]

US election

Capital Market Notes, November 2016 David Lafferty, chief market strategist at Natixis Global Asset Management, looks at the impact on markets and portfolios since the somewhat surprising outcome of the US election. Click here


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