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Ernst & Young to study the use of e-commerce in financial services


The Government has appointed management consultancy Ernst & Young to assess the implications of electronic commerce on the retail financial service sector.


The move follows Prime Minister Tony Blair&#39s recent announcement of the formation of a project designed to ensure the UK benefits from the worldwide growth in e-commerce.


The study will be conducted by the Cabinet Office&#39s Performance and Innovation Unit. The unit has been established to tackle strategic issues that cut across the boundaries of Whitehall departments.


Ernst & Young will work with the unit to compile the views of financial services companies. It will canvas the views of traditional players and new entrants plus regulatory authorities and other industry commentators.

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