Government looks to abolish 10% drop notification

In a memorandum to parliament, the government said the instrument amends an existing requirement for investment firms to inform their clients whenever the overall value of a portfolio decreases by 10% in a given period. "Feedback from professional clients has been that having these reports every time their portfolios depreciate by multiples of 10% is not useful to them," the memorandum said. "They and investment firms would prefer to be allowed to agree between them what reporting is appropriate based on their specific circumstances. "The instrument therefore revokes this obligation i...