In two minds on self regulation

Article Abstract:

The British retail finance industry is being regulated by several agencies. One of these isthe Life Assurance and Unit Trust Regulatory Organization (LAUTRO) which has been monitoring life companies and friendly societies since the latter part of the 1980s. The organization imposes heavy penalties and even starts disciplinary proceedings against any of its members that do not meet the compliance standards set forth in the Financial Services Act. Another regulatoris the Financial Intermediaries Managers and Brokers Regulatory Assn (FIMBRA), which also penalizes members that are not satisfying standards. The UK government is proposing the consolidation of the LAUTRO and the FIMBRA to form the new watchdog, the Personal Investment Authority (PIA). Banks have expressedtheir opposition to the creation of the PIA, prompting the Securities and Investment Board to look for solutions to this problem.

DEPOSITORY INSTITUTIONS, Evaluation, Laws, regulations and rules, Financial services industry, Financial services, Industry self-regulation, Industry self regulation, Independent regulatory commissions

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Mergers and privatisations - is the boom over?

Article Abstract:

The pace of takeovers in the UK has slackened due to the fall of the junk bond market and the decline of management buyouts. Acquisitions Monthly reports that the business of the top 20 merchant banks dropped to 5.8 billion pounds sterling in 1990 from 15 billion pounds in the same period in 1989. Last year, merchant banks earned fees of 600 million pounds, but in Jan 1990, only 107 deals worth 1.8 billion pounds had been completed as compared to 165 deals worth 3.2 billion pounds in the same period 1989. While fee income has been declining for consultancy to the private sector, the UK government has been spending unprecedented amounts for management consultants, headhunters, and public relations for its privatized businesses.

Acquisitions and mergers, Statistics, Privatization, Privatization (Business), Management buyouts, Merchant banks, Acquisition Monthly (Periodical), Great Britain

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