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Most firms off the hit list over millennium bug

Financial services companies are now off the danger list over millennium bug compliance according to the FSA.

The FSA said that by September 30 none of the 400 companies monitored by the authority were still classified as &#34code red&#34 or at serious risk of material disruption.

Seven firms fell within the &#34amber&#34 category but are expected to catch up and meet the deadline set.


Government to extend catmarks to mortgages

The Government will extend its controversial catmarking scheme to embrace mortgages this week.The Treasury is rushing to publish a consultation paper before its mortgage seminar bringing together lenders, consumer groups and the FSA on Monday.The paper is expected to be less prescriptive than catmarked Isas or stakeholder pensions but will be a voluntary scheme which […]

L&G and IFA team up to offer pre-stakeholder to charity workers

Legal & General and IFA&#39s Kingsworld Walder have teamed up to launch an affinity based pre-stakeholder scheme aimed at charity workers.The Voluntary Sector Stakeholder is guaranteed to meet the final Government requirements for stakeholder pensions when it is launched in 2001.The scheme will be officially launched on October 19 at a special conference for workers […]

European governments could diffuse pensions time bomb

European governments could put an end to the pensions time bomb by raising the retirement age to 69 by the 2030 according to a report by Merrill Lynch.The research based on computer modelling warns governments that if they fail to take action and benefits are not cut, contributions would have to double within 40 years.The […]

EU proposes forum for money laundering

The European Union commissioner for justice and home affairs wants a forum on financial regulations reports the Financial Times.The former Portuguese defence minister Antonio Vitorino says the forum would aid the fight against organised crime by allowing police to share information on money laundering.The report says Vitorino will raise the issue of hi-tech money laundering […]

The Day of (B)reckoning

A period of exceptional uncertainty started last Friday for the UK, including a fierce leadership battle in a deeply divided Conservative party, the timing of the trigger of the EU’s Article 50, as well as a potential referendum in Scotland, and Northern Ireland. Click here to read the full article


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