Overseas investment in UK financial services up in 2010

Countering claims that plans to penalise bonus culture and place a levy on banks will drive finance firms away from the UK, the proportion of new FSA authorisations in the UK from overseas companies has grown from 6.5% in 2009 to 9.1% in June 2010. The proportion of new financial service providers setting up in the UK fell between 2008 and 2009 from 7.2% to 6.5% during the depth of the crisis, but has grown significantly since. Between 2008 and June 2010, there have been 112 new FSA authorisations for companies from North America, 52 for European companies, 29 from Asia, nine from Aus...