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EU venture capital directive plans shelved

Plans to develop an EU directive harmonising the treatment of venture capital funds across the union have been shelved by the Commission.

Discussions between the member states and representatives of the European venture capital industry concluded that legislation in the industry is unnecessary.

The industry is now for the Commission to examine the tax treatment of funds to find ways to increase co-ordination across Europe.

The EU says that it is likely to produce a green paper on investment in the first half of 1999 which may address the tax issue.


Scot Am improves long term care bond

Scottish Amicable has enhanced its Long-Term Care Bond allowing policyholders to choose the number of activities of daily living covered by a claim. The maximum level of cover has increased to £36,000 from £30,000 and investors are now able to receive a cash lump sum after the failure of one ADL.

IFAs see doubling of pensions business in next six months

IFAs are predicting that the volume of business taken in group and individual pensions, income drawdown and Peps will double over the next six months.The findings come from the just published quarterly PIMS survey.IFAs also believe that these products plus long term care have the most potential over the next five years.They also believe that […]

PPP removes exclusions on lifetime care bond

PPP lifetime care is extending the cover on its long term care bond by removing exclusions previously imposed for AIDS-related illnesses, self-inflicted injury and not following medical advice.The health insurer says the move is part of a drive to make its products more flexible by helping clients protect their assets and independence when they are […]

Mercantile launches new capped rate mortgage

Mercantile Building Society is launching a new mortgage capped until May 2002.The interest rate will be capped at 6.39 per cent for those paying a 25 per cent deposit and 6.59 per cent for those paying the minimum 5 per cent deposit.The scheme offers free unemployment insurance for 12 months and any high risk charge […]


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