The government has backed down from its calls for mutual regulatory recognition post Brexit and will now push for a deal that will see UK and EU financial services firms' access to each other's markets scaled back when the country leaves the bloc.
In its long-awaited Brexit white paper, published on Thursday (12 July), the government called for "new economic and regulatory arrangements for financial services", which it argues would "preserve the...
'Not appropriate to comment'
Proposals for mandatory tendering of fiduciary management services, as well as additional guidance for trustees, have been welcomed by industry commentators albeit with some caution.
Sterling has fallen on the back of inflation figures released this morning, which show the UK Consumer Price Index (CPI) remained steady at 2.4% in June.
John Wotton says the competition watchdog's package of proposals will help trustees get the best deal and be satisfied they are acting in their members' best interests