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After the horse has bolted!

Oct 6

Written by: Phil Stevenson
Tuesday, October 06, 2009 

The Prime Minister at the start of the Labour Conference in Brighton, Brown said "enough is enough" and that he would not stand by and allow a return to the "bad old days" of excessive bank bonuses.
Brown stated that a new Business and Financial Services Act will ban the old bonus systems and make it impossible for firms to be able to use them. It will also say that where there is bad behaviour, the Financial Services Authority will have the right to intervene. And where companies are not prepared to act in a way that is consistent with all these new proposals about the fair treatment of bonuses and remuneration, there will be penalties imposed on these companies.
Brown said the measure would be brought to House of Commons in the next few weeks as part of the Queen's November speech.
The Prime Minister said he had become "utterly convinced" that this was the way forward after talking to other G20 leaders in Pittsburgh last week.

 

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THE FINANCIAL SERVICES AUTHORITY DOES NOT REGULATE SOME ASPECTS OF TRUST AND TAXATION ADVICE.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED UPON IT.


The guidance and advice contained within these article are subject to UK regulatory regime and are therefore primarily targeted at customers based in the UK.


ARK Financial Planning Limited is authorised and regulated by the Financial Services Authority.
ARK Financial Planning Limited
Independent Financial Advisers.
18-20 Stamford Street, Stalybridge, Cheshire, SK15 1JZ.
Tel: 0161 303 9977,
Fax: 0161 303 8499,
E-Mail: answers@arkfp.co.uk.
Registered in England: No. 4975240.
Registered Office:
14 Warrington Street, Ashton-under-Lyne,
OL6 6AS.

THE FINANCIAL SERVICES AUTHORITY DOES NOT REGULATE SOME ASPECTS OF TRUST AND TAXATION ADVICE.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED UPON IT.


The guidance and advice contained within these article are subject to UK regulatory regime and are therefore primarily targeted at customers based in the UK.


ARK Financial Planning Limited is authorised and regulated by the Financial Services Authority.
ARK Financial Planning Limited
Independent Financial Advisers.
18-20 Stamford Street, Stalybridge, Cheshire, SK15 1JZ.
Tel: 0161 303 9977,
Fax: 0161 303 8499,
E-Mail: answers@arkfp.co.uk.
Registered in England: No. 4975240.
Registered Office:
14 Warrington Street, Ashton-under-Lyne,
OL6 6AS.

THE FINANCIAL SERVICES AUTHORITY DOES NOT REGULATE SOME ASPECTS OF TRUST AND TAXATION ADVICE.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED UPON IT.
The guidance and advice contained within this website are subject to UK regulatory regime and is therefore primarily targeted at customers based in the UK.
ARK Financial Planning Limited is authorised and regulated by the Financial Services Authority.
ARK Financial Planning Limited - Independent Financial Advisers.
18-20 Stamford Street, Stalybridge, Cheshire, SK15 1JZ. Tel: 0161 303 9977, Fax: 0161 303 8499, E-Mail: answers@arkfp.co.uk. Registered in England: No. 4975240. Registered Office: 14 Warrington Street, Ashton Under Lyne, Tameside, OL6 6AS
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