View more on these topics

Four picked for external role

The Government and the Bank of England have named the four external members of the interim Financial Policy Committee.

The FPC will be responsible for ensuring stability of the financial system under the new regulatory structure. It will be part of the Bank of England and will oversee the Prudential Regulation Authority.

The interim FPC has been set up to prepare for the permanent establishment of the committee ahead of legislation.

The external members of the interim FPC are: former Federal Reserve vice-chairman Donald Kohn; former Deutsche Bank head of investment banking Michael Cohrs; former Confederation for British Industry director general Sir Richard Lambert and Treasury senior adviser Alastair Clark.

Chancellor George Osborne says: “The skills, expertise and experience they bring are invaluable and I am confident we have the right people to do the job.”
Other members of the interim FPC include Bank of England governor Mervyn King, BoE deputy governors Paul Tucker and Charlie Bean, FSA chief executive Hector Sants and FSA chairman Lord Adair Turner.

Chief executive designate of the Financial Conduct Authority Martin Wheatley will also be a non-voting member.


Yorkshire BS reports £115m pre-tax profit in 2010

Yorkshire Building Society has reported a £115.4m pre-tax profit for the year ending December 31, 2010, after suffering a £12.5m pre-tax loss the year before. The building society, which completed a merger with Chelsea Building Society on April 1, 2010, also tripled its mortgage lending for the year from £936m in 2009 to £2.8bn in […]


Nigel Speirs: Why I think independent is too expensive due to RDR

Independent financial advice is likely to be commercially unviable for big distributors after the retail distribution review, according to Sanlam UK head of distribution Nigel Speirs. In an interview with Money Marketing, Speirs says the RDR will mean the workload involved in delivering independent advice becomes too high for bigger firms. As a result, Speirs […]

Fidelity China special sits trust C-share offer brings in £166m

Fidelity International’s China special situations investment trust, managed by Anthony Bol-ton, has raised a maximum £166.25m through a C-share offer. The trust has now become the biggest listed investment company on the London Stock Exchange that provides specific exposure to China. It is also now the second-biggest listed investment company in the UK market providing […]

Food for thought in Russia

The troubles in Egypt are a reminder to investors in emerging markets that economic and stockmarket risk can be exacerbated by political issues. The Egyptian stock exchange has been closed for days following the anti-government protests so owners of shares listed there do not even have the option of selling until it reopens. Of course, […]

IHT: What were you doing in 2009?

One of the best sources of new business is your existing clients and, if they are estate planning clients, regular reviews are needed because people’s inheritance tax (IHT) problems tend to only get worse. Now, not a lot of things remain at the same rate as in 2009. If we turn the clock back, it […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm