Government backs PIA
Anthony Nelson, the Economics Secretary, said at a City of London Corporation dinner last week: 'I believe that there could be important advantages for investor protection if a new self-regulatory organisation were established to regulate business done with or for the private investor, with the support of firms who do business in that sector.'
The Government has been under pressure from supporters of the PIA to express its support for the new body. They hope its backing will encourage companies that sell investments to the public, currently regulated by any of five other bodies, to join.
Insurance companies have said they will back the PIA only if banks, building societies, fund managers and insurance brokers join it. But many of these firms are reluctant to join.
Mr Nelson said: 'I hope that potential members of the PIA will give full consideration to the proposals to enable continuing progress to be made.'
He pointed out that the PIA has yet to be authorised as a regulatory body. Last week the PIA formation committee published a consultative document.
- 1 Secret Cinema interview: Why were Back to the Future screenings cancelled?
- 2 Christians: The world's most persecuted people
- 3 Israel-Gaza conflict: The secret report that helps Israelis to hide facts
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 Iraq crisis: End 'very near' for Christianity after Isis takeover, says Bishop
Israel-Gaza conflict: John Prescott condemns bombardment of Gaza as a 'war crime'
Thatcher ‘was warned of Tory child sex party claims’
Israel-Gaza conflict: President Obama presses Netanyahu to call ‘immediate and unconditional’ Gaza ceasefire
Lauren Goodger calls for tougher laws on revenge porn after sex tape leaks online
Iraq crisis: End 'very near' for Christianity after Isis takeover, says Bishop
Israel-Gaza conflict: The secret report that helps Israelis to hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
Opponents of Israel's military operation in Gaza are the real enemies of Middle Eastern peace
Were 'Poor Doors' added to mixed developments so wealthy residents don't have to go in alongside social housing tenants?
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£28000 - £32000 per annum: Ashdown Group: Training/Learning and Development Co...
£28000 - £32000 per annum + benefits: Ashdown Group: Training Programme Manage...
£40000 - £45000 per annum: Ashdown Group: An established professional services...
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...