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Law firm warns on competition law

A leading law firm is urging businesses and financial institutions to prepare for the launch of the new Competition Act or face heavy fines.

The main provisions of the Act do not come into force until March 2000 but law firm Cameron McKenna says nearly 60 per cent of British businesses are failing to prepare for it.

Cameron McKenna competition expert Richard Taylor says: &#34Breach of the new law can entail very large fines. The EC Commission has fined companies up to £50m on several occasions for infringing the equivalent EU law.&#34

The OFT is issuing consultation guidelines and a video to explain the new Competition Act and its power to carry out &#39dawn raids&#39.


Friends Prov launches flat load charging GPPs

Friends Provident is launching a group personal pension plan using a level load charging structure.The Series 2 Plan has been designed to produce higher transfer values in the earlier years but lower maturity values compared to its existing plan.IFAs will be able to choose either Series 2 or the existing plan. Both plans offer Friends […]

Pru welcomes Government&#39s internet ambitions

Prudential has welcoming the Government&#39s Electronic Commerce Bill as a means of improving competitiveness in the digital marketplace.The life office says that it specifically set up its direct banking operation Egg to make comprehensive use of the internet.It says quotations and applications are already available online and it will gradually introduce more internet services to […]

IFAs and brokers form Cardiff Society of Investment Managers

IFAs in Wales will be able to join a new society bringing together investment advisers and fund managers.The Cardiff Society of Investment Managers, which is aimed at advisers in Cardiff and South Wales, has been founded by Dafydd Hampson-Jones of Henderson Crosthwaite, Bob Jordan of Temple Court Associates and Neil Moss of Maskell Moss & […]

MoneyStore cuts rates on one-year fixed rate products

The MoneyStore is reducing its two one-year fixed-rate products by 0.74 per cent and 0.96 per cent respectively.It is also cutting its full status loan to 8.75 per cent and its self-certification loan to 8.99 per cent.The sub-prime lender says it will consider applicants who have missed four monthly payments within the last 12 months […]

A guide to automatic re-enrolment

Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment. Johnson Fleming has produced a useful guide that provides essential information to help you […]


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