Banks and other lenders face an immediate impact of up to a £5bn drop in
revenue as a result of having to hold more sterling gilts or OECD government
bonds than previously under ‘far-reaching and robust changes’ to Britain’s
liquidity regime proposed by the
Services Authority (FSA).
However, in a consultation paper released yesterday, the FSA said it expected
the loss in revenue to be offset by possibly bigger benefits to the lenders from
healthier balance sheets, lower losses and a reduction in funding costs.
Companies who have to adhere to the new liquidity rules also face between
£150m and £200m in other costs for training, reporting and information
technology, while the FSA itself will carry costs between £11m and £14m linked
to the new rules.
Andrew Strange, AIFA
director of policy, told the Financial Times that, although he fully
understood the need to review the requirements in the current economic climate,
the proposed increase could pose serious risks to IFA businesses already having
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.