View more on these topics

Government battles finance bill delays

WORDS 111


The Government is set to draft in outside lawyers to help speed up the passing of the Financial Services and Markets Bill.


The bill has been plagued with delays caused by a need to redraft much of the contents. Although originally expected to be enacted in Spring experts predict it will not now be ready until August at the earliest.


Ministers have admitted their own lawyers are unable to cope with the heavy workload of labour&#39s legislative programme.


A spokesperson for the parliamentary counsel responsible said the work needed is so specialised it takes eight years to qualify and a recent recruitment advertisement in the legal press was “part of the normal recruiting process.”

Recommended

Lloyds TSB Euro push

Lloyds TSB is set to develop an internet stepping-stone into Europe.It has confirmed reports it is developing a “European internet offering” but would not confirm the timetable and cost of the proposal.It already operates overseas in New Zealand and Latin America.A spokesperson says: “We are interested in developing our e-commerce side of the business and […]

Mortgage regulation decision looms

Gordon Brown is expected to decide on the future of mortgage regulation this month.Brown could hand over mortgage regulation to the Financial Services Authority when he visits its headquarters in the next two weeks.Experts predict the FSA will take control of all firms lending money secured on residential property in the £490m mortgage industry from […]

SFE board reshuffle

The first woman director of Scottish Financial Enterprise has been appointed as a director of Edinburgh Investment Trust and the Royal Bank of Scotland.Eileen Mackay was previously a senior civil servant and a principal finance officer of the Scottish Office from 1992 to 1996. She also worked at the Treasury and the Cabinet Office.SFE chairman […]

FSA puts pensions review for transfers on hold

The FSA is suspending pension review phase two transfer cases to amend its guidance which could lumber outraged IFAs with massively increased redress bills.The regulator says the forecasted long term drop in interest rates has forced it to change the way loss is calculated in phase 2 transfer cases and could result in a 5 […]

Mark Page: why my biggest overweight stock is a discount Spanish retailer

Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment