Wednesday, 18 November 2009

Square Mile Alert: Slippery Slope....

Alright saving my comments until I hear what is actually said......but have a look at what The Telegraph thinks will be put forward in the Queen's Speech today:

The new rules will come into force next year if the Financial Services Bill passes through Parliament before the next general election, which must be held before June 3. Lord Myners, the City minister, has said he's confident that the bill will be passed.
The Bill also proposes:
* FSA to be given power to tear up existing contracts if pay packages incentivise risk
* Consumers will be allowed to launch class action suits
* A ban on unrequested credit card cheques
* The FSA to establish a consumer education agency
* A new Council of Financial Stability
* An advice service to give consumers direct help

Preparing for Flight of the CityWorkers, and the multinational companies who do business here.