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FSA vision for &#39New Millennium&#39

The Financial Services Authority is publishing its new operating framework “for a new millennium”.

The statement includes details on the regulator&#39s understanding of its statutory aims and assesses the risks of achieving statutory objectives .

The document also describes the range of regulatory tools the FSA will use and how the it will implement its strategic approach.

FSA chairman Howard Davies says: “Our new regulatory approach will be proactive and preventative, aiming to head off problems in advance.”


Pension boom forecast

The introduction of stakeholder pensions next year is set to double the size of the market within a decade, according to forecasts by Deutsche Bank.The pensions market is valued at £46bn, but is expected to rocket to £103bn by 2011, with stakeholder making up 48 per cent boost to the total.But the research slates the […]

NatWest pledge to hand out £3.5bn

National Westminster Bank has promised it will return £3.5bn to shareholders in its final defence bid against Royal Bank of Scotland and Bank of Scotland.The beleaguered bank guaranteed if shareholders allowed it to remain independent it would immediately launch a £1.5bn tender offer to buy back its own shares and to pass on the proceeds […]

Pru backs BoS bid

Bank of Scotland&#39s hostile bid for National Westminster Bank has received a boost with Prudential saying it will throw its weight behind the Scottish bank takeover.The Pru has agreed to buy Natwest&#39s life business from BoS if its bid is successful.If implemented, Prudential will have exclusive rights to sell its life, pensions and investment products […]

Bid to break &#39unfair&#39 loans

Borrowers may be protected from “unfair” loan contracts if the Office of Fair Trading wins its High Court battle with First National, starting this week.The OFT is claiming First National contracts are “unfair” because defaulting borrowers can continue to be hit by interest charges even after they have been taken to court.The case follows an […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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