View more on these topics

Pearl submits revised application for Resolution acquisition to FSA

Pearl has submitted its revised change of control application for the acquisition of Resolution to the FSA.

The delay to the deal occurred because Pearl needed further detailed and updated information on Resolution’s financial position in light of the recent market volatility.

The 720p per Resolution share deal was originally due to be completed in February but has suffered several delays to allow further discussions with the FSA.

The FSA has up to three months to consider any revised change of control application submitted by Pearl, but it has indicated that it will seek to conclude this in a shorter period.

Pearl and Resolution say this means that the acquisition is unlikely to become effective before the end of April.

Resolution says it will probably have to provide a preliminary announcement of its results for 2007 to the market on April 29 in accordance with regulatory


Commercial First stops new lending

Commercial First has stopped all new lending with immediate effect.In November 2007 Commercial First claims it completed the only public securitisation since the credit crisis began, but despite this has been forced to temporarily suspend new originations as existing facilities have been fully utilised and planned new arrangements have not materialised.Johnson says it has entered […]

HMRC’s offshore amnesty turns ‘legal system on its head’, says PKF

Tax accountants and business advisery firm PKF is warning an HMRC demand for information from thousands of offshore account holders “turns one of the central tenets of the English legal system on its head”.HMRC is sending letters to thousands of offshore bank account holders demanding they tell the Revenue what tax is due on their […]

Tax and trust arm for corporate sector

AWD Chase de Vere is launching a tax and trust division aimed at its corporate and professional clients, to be headed by former heads of Alexander Forbes’ tax and trusts team Paul Grafton-Holt and Claudio Bacci.


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