Treasury

The Treasury aims to cut back "disproportionate" requirements to report information to the Financial Services Authority (FSA) in its proposed amendments to the Financial Services and Markets Act 2000 (FSMA).

Treasury proposals to relax the Financial Services Authority's requirement to consult on rule changes could disadvantage small firms, says the Association of Independent Financial Advisers.

A CULL OF as many as 300 staff is expected if Henderson Group succeeds in its bid approach for the rival fund management house Gartmore, reports The Times .

The Treasury has indicated a National Pension Savings Scheme (NPSS) or alternative "could be useful" in helping the savings gap during discussions with the International Monetary Fund (IMF).

Tax specialists are revving up their best guesses ahead of this year's budget on the issue of the level of tax relief accorded venture capital trusts, even as a growing number are expected to close early because of high investor demand.

Industry members suggest inheritance tax (IHT) rules on pensions are unlikely to be revealed until the Budget, leaving advisers with just two weeks to get all the details in place.

The proposals in the Department for Work and Pensions' White Paper are likely to differ very little from the National Pensions Saving Scheme (NPSS) proposed by the Pensions Commission, IFAonline has learnt.

The Treasury has said there is no conflict between the Markets in Financial Instruments Directive (MiFID) and commission rebates, in contrast to concerns raised by the Association of Independent Financial Advisers (Aifa).

The Capital Tax Office and the Treasury are still unable to agree on how inheritance tax (IHT) will apply to pensions eight weeks before A-Day, IFAonline has learnt.

The Pep and Isa Managers' Association (PIMA) has asked the government to support transitional arrangements for the regulation of pensions, to allow consumers to take immediate advantage of A-Day flexibility.