Treasury says investment trust regime is strong enough

Officials at the investment trust trade body point out several changes have been made to the IT regime since the Treasury Select Committee recommended in February 2003 tighter regulations were needed. The Treasury opened a public consulation earlier this year on the matter to deal with the complaints made by the Select Committee. But since the TSC published its 2003 report - in light of the split-caps debacle - the Financial Services Authority has amended listing and conduct of business rules while the AITC has introduced its own corporate governance code. As a result, the Treasury...