The city’s financial regulator has said that prime minister Tony Blair has undermined its authority after claiming the body was ‘ seen as hugely inhibiting of efficient business’.
Following a speech by Blair at London’s Institute of Public Policy Research, Financial Services Authority chairman Callum McCarthy, wrote a letter of protest, saying the remarks were ‘damaging to our influence and our abilities to support the principles of better regulation’, according to The Independent.
During the speech Blair said: ‘Something is seriously awry when the Financial Services Authority that was established to provide clear guidelines and rules for the financial services sector, and to protect the consumer against the fraudulent, is seen as hugely inhibiting of efficient business by perfectly respectable companies that have never defrauded anyone.’
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.