FSA approves Portman-Nationwide merger

The FSA must approve all transfers of engagements between building societies and has certain responsibilities towards building society members. The two building societies published statements in the national and local press after applying for the merger in April this year. The FSA received a total of 22 written objections to the merger and a further three oral objections at a hearing held in Bournemouth. Members of the societies voted overwhelmingly in favour of the merger, though those present at the Bournemouth hearing were mostly against the deal. More to Follow. If you would li...