View more on these topics

Lords seek clearer delegation of powers to supervise banks

The House of Lords economic affairs committee has called for macro-prudential supervision to be given to the Bank of England’s financial stability committee rather than left with the FSA.

In its Regulation and Banking Supervision report, published this week, the Lords committee says the BoE financial stability committee should have “direct access to the information req-uired and a suitable policy inst-rument to counter pro-cyclicality in the banking sector”.

The report raises concerns about Government plans not to give the stability committee executive powers, claiming this will leave it ineffective. It recommends the FSC should be chaired by the governor of the BoE and include senior FSA and Treasury representatives.

The Lords call for clearer delegation of decision-making powers between the tripartite authorities and a focus by regulators on banks’ risk models.

House of Lords economic affairs committee chairman Lord Vallance says: “In the UK, the tripartite authorities of the BoE, the FSA and the Treasury failed to maintain financial stability, in part because it was not clear who was in charge in a crisis and because not enough attention was paid to macro-prudential supervision.”


Cost-cutting sees over 130 funds close

A total of 138 funds have closed or merged in the past 12 months, research from Financial Express has revealed.Among the firms that have made numerous changes to their range are New Star and Royal London Unit Trust Managers, with six each while Inv-esco Perpetual, Fidelity and M&G – who currently occupy the top three […]

Adviser Fund Index

The departure of some big names from fund groups has seen some well known groups dropped from the Adviser Fund Index portfolios during the May rebalancing.Among the casualties are many industry stalwarts, including Baillie Gifford, Close Investments, Franklin Templeton, Insight, Liontrust, Rathbones and Skandia.After the rebalancing in November 2007, the three portfolios included 169 separate […]

Health - thumbnail

Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm