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International financial bodies slam internalisation proposals

The Association of Private Client Investment Managers and Stockbrokers has rejected proposals by Euronext suggesting that all securities be routed to exchanges for execution.

In a position paper to the European Commission, the APCIMS says that imposing the proposals would protect neither the integrity of the markets nor the interests of investors.

It says a “one size fits all” approach would be catastrophic for the European capital market and would be an impractical and retrogressive move in today&#39s trading environment.

The paper argues that if Europe adopts the proposals, liquidity would be severely damaged, the majority of investors will receive worse prices and the cost of capital for issuers would rise.


Ice work if you can get it

M&G&#39s competition to win a snowmobiling safari in Iceland has been won by Gill Steele of Lodders in Stratford Upon Avon and Malcolm Dowsett of Malcolm Dowsett Financial Services in South Woodford, London.They both receive two return tickets to Iceland, three nights&#39 accommodation, a trip to the famous Blue Lagoon and the snowmobiling safari.The competition […]

Thomson buys pension specialist Read

Thomson Group has bought pension early release specialist Read IFA for an undisclosed sum. Buckinghamshire-based Read IFA has three RIs and will retain its name after the merger with Thomson, which is now owned by German financial adviser giant AWD Holdings AG.

The Mortgage Partnership to offer divorcees 20 times over standard

The Mortgage Partnership is offering a loan aimed at helping divorcees get a second mortgage to buy a new property after moving out of the family home.The packager claims many divorcees are denied mortgages from mainstream lenders because they are paying off the loan on the family home.It says its New Start mortgage, funded by […]

How I learnt to love CP121

Giving up two days of my working week is not something I do lightly. The subject matter of this summit was, however, simply too important to ignore. If the future of our industry and the possibility of evolving it into a profession were to be discussed then I wanted to be there.My mission was to […]


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