Thursday, 5 July 2012

IFAs and their clients should not pay for Osborne's U-turns | Opinion | Money Marketing

'Chancellor George Osborne’s decision to funnel the proceeds of fines to the public purse rather than back to the industry may be a popular decision with voters but caution should be exercised.

Osborne this week confirmed to Parliament that he intends to legislate so any fines from April onwards, including the recent £59.5m Barclays fine, will be paid to the exchequer rather than being used to reduce future industry FSA costs....'


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