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The hits and misses

In the political realm of West minster, some events that most concerned the industry barely made a blip on the radar screen while others were big political news.

The Axa orphan assets court case, the recent downfall of Equitable Life and the success of Isas were all issues that Liberal Democrat DTI spokesman Vincent Cable has spent much of his time looking at.

Conversely, he says the FSA&#39s recommendation over polarisation never really made it as an issue with much political capital.

On the legislative time table, the passing of the Fin ancial Services and Markets Bill giving the FSA its authority was marked with a collective sigh of relief from politicians.

It had taken more than two years to get to that stage and there is still much work to be done before the FSA is finally up and running properly.

Cable says: “The passing of the bill was obviously important but polarisation never actually surfaced as a political issue although it is an important one for the industry.”

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