PracticeConsultingGovernment to confront Lords over finance bill

Government to confront Lords over finance bill

The government is to use the guillotine to force through an amendment reversing its Lords defeat on the Financial Services and Markets Bill in the Commons.

The change will restore the supremacy of the Financial Services Authority by removing provisions giving firms a ‘safe harbour’ from action over alleged ‘market abuse’ during a takeover battle provided they can show they have complied with the Takeover Panel.

Bill chaos spells delay for FSA investment powers

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