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The recent global financial crisis has seemingly called into question the balance of risks, rewards and responsibilities between society and the financial sector, and has shown the inability of government to manage effectively withou a high cost to taxpayers when uncontrolled risk-taking for short term gain becomes excessive.

The G20 Finance Ministers and leaders have committed to implementing higher regulatory and supervisory standards to ensure greater cooperation, improve consistency and guard against excessive risks. The FSA have already issued PS09/15 Reforming remuneration practices in financial services

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Another ArticleNew industry guidance has been published to help firms meet the requirements of new Financial Services Authority (FSA) rules governing high street banking. The FSA took over all retail banking conduct regulation for deposit taking and payment services in November 2009.  The detailed guidance retains important provisions from the old Banking Codes, such as helping [...]

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Another Article Shadow Chancellor George Osborne has hit out at the Labour party for failing to deliver three key tasks in its pre-Budget report today. Speaking at the House of Commons today, Mr Osborne said Chancellor Darling had three tasks – to restore confidence in Labour forecasts, produce a credible plan to deal with the [...]

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Another ArticleFull Article at Money Marketing http://www.moneymarketing.co.uk/1003654.article?cmpid=MME01&cmptype=newsletter The British Bankers’ Association says the Chancellor Alistair Darlings plans for a 50 per cent levy on bonuses over £25,000 will make London less attractive to international banks.   The Chancellor Alistair Darling announced the measure in his pre-Budget speech today. BBA chief executive, Angela Knight says: ” The [...]

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Another Article The UK Government has extended the pension tax changes announced in April’s Budget so people earning £130,000 or more will be hit rather than the original £150,000 threshold. In the pre-Budget report the Chancellor of the Exchequer predicts the new rules will affect an extra 85,000 people, 300,000 compared to 215,000 originally. The [...]

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