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FSA to hold confirmation hearing for Britannia transfer

The FSA has today announced that the confirmation hearing for the proposed transfer of Britannia Building Society business to Co-operative Bank will be held on June 26.

The hearing will take place at the FSA’s Canary Wharf office from 12 noon.

Interested parties will have an opportunity to make verbal representations if they have given the regulator notice of their intention to do so.

More than 20 people have submitted written representations to the FSA and two notices of intention to make verbal representations have been received.

At the end of the hearing the FSA says it will reserve judgement and will publish a written decision at a later date.


Relief map

It is an unfortunate fact of current business life that more than a few businesses are making losses. This has been recognised by the Government in its extension of the loss carry-back rules. These will permit businesses to carry back trading losses for up to three years to claim back tax paid.

Longer delays for annuity transfers

Annuity transfers took an average eight days longer in 2008 compared with 2007 despite the ABI initiative to speed them up, according to a new survey.


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