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FSA formed contingency plan over B&B

The FSA held talks with the UK’s largest banks to formulate a contingency plan in case the Bradford & Bingley rights issue had fallen through, according to press reports.

Financial News says senior FSA executives met with chairmen and chief executives of the UK’s big clearing banks between 28 May and 1 June when B&B announced that its planned rights issue might be in trouble.

Though the contingency plan was not required it is reported that Barclays, HBOS, HSBC, Lloyds TSB and Royal Bank of Scotland agreed to provide £20m each of sub-underwriting to the deal.

The FSA is refusing to comment on the situation.


Surveyors see 30-year low

The average number of transactions per chartered surveyor last month was 17.4, the lowest figure since 1978, according to the Royal Institution of Chartered Surveyors.


Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.


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