SANDLER SUITE 4 *** Price cap changes urged

By committing to reviewing price caps on financial services, the Treasury today has all but admitted that its 1% world has fallen apart, but there is still confusion as to who will be the first to officially ring the death knell: Whitehall or Canary Wharf. The Treasury has already appointed Deloitte & Touche to "independently research" the effect of price caps on the market, but Treasury secretary Ruth Kelly says that the government will not move on the price cap issue until after the FSA has made its position clear. "It was clear from the responses to the consultation and our...