Steve Young: why the Lloyds deal collapse could hit advice

Nicola Brittain
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The Co-op's decision to pull out of the deal to acquire the 632 'Project Verde' branches from Lloyds has many consequences, some of which read across to the advice industry, according to Sense Network commercial director Steve Young.

The central decision not to proceed appears to be based upon a belief that the potential returns from an expanded Co-op Bank would be insufficient to balance out the risks from a deteriorating economy and, from the increasing regulatory requirements being applied to banking across the world. Ironically, 'verde' is the Spanish word for green but the decision has produced a red light for the government's desire to increase competition within the UK banking market. I have always been an advocate for proportionate regulation and I am not one of those people who believe that laissez-faire ...

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