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Red face threat for Government

The Government faces embarrassment following the revelation a key part of its financial services bill relating to e-commerce may breach European e-commerce law.

The financial services and markets bill makes it a criminal offence to for banks, fund managers and insurers based in other countries to promote services to UK consumers, unless they have been cleared by UK regulators.

But the UK may be taken to task by the European Commission for infringing a European directive saying online companies need only be regulated by their home country.

Dibb Lupton Alsop lawyer Mike Pullen says: “You might not win infringement proceedings, but I would put money on the fact you could get such proceedings opened, which would be intensely embarrassing for the Government.”


BoS squeeze on NatWest

Bank of Scotland is aiming to squeeze an extra £518m from National Westminster Bank, if it beats Royal Bank of Scotland in the ongoing £22.5bn takeover battle.BoS is claiming the extra revenue can be achieved by opening new branches, cross-selling new products to customers and tailoring services to small businesses.The forecasted extra revenue will be […]

FSA e-probe

The Financial Services Authority is starting its consultation process on how the alternative share trading systems and electronic exchanges should be regulated.The consultation comes amid a movement away from traditional stock exchanges to electronic communications networks.One of the regulator&#39s concern is how fund manages and equity trading houses can offer the best price available, which […]

Savings limit boost

Savings limits for people on means-tested benefits are set to rise under new Government plans.The move comes as part of a comprehensive spending review by social security ministers and is set to treble capital limits for those on benefits also and raise the limit on the amount individuals can claim against the cost of long-term […]


People are resistant to change even if it means that change will put them in a better position. Change, however, is being forced upon the financial services profession with considerable speed and doing things the way we have always done them is no longer an option. Let&#39s face it, being an IFA is not easy. […]

2016 Global Survey of Individual Investors: How is investor behaviour rewriting the job description for financial professionals?

Trapped between expectations for near double-digit returns and strong apprehensions about investing in persistently volatile markets, investors worldwide are of the opinion that professional financial advice is worth the fee. But even though they believe individuals who work with a financial professional are more likely to achieve their goals, investors have a clear vision of […]


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