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Tougher regulation needed says Darling

The chancellor Alistair Darling says the events of the last couple of months have proven that the UK financial sector now needs tougher regulation.

Speaking at the Labour Party Conference in Manchester today, Darling says: “10 years ago we had to change the regulatory system when it didn’t work and we need to toughen it up again.”

Darling says the events of the past few months have shown that the UK needs a tougher regulatory system.

He says: “We will be looking at credit rating agencies and the need for better supervision.”

He also says there needs to be stricter rules for banks who have over-exposed themselves in the past.

Prime Minister Gordon Brown hinted that global regulation could be the next step forward to tackle the global downturn.

He says: “Just as one government alone cannot combat global terrorism, just as one government alone cannot combat climate change, so one government alone cannot deal with the consequences of globalisation.”

Speaking about the Northern Rock fiasco, Brown says: “We had a choice, we could have done what other countries did and not acted. We had a choice again last week and we made the right choice.”

Brown adds that the merger of HBOS and Lloyds TSB put the interests of mortgage holders and savers before the interests of hedge funds.

He also hit out at the Conservative Party for actually wanting to deregulate the financial services market over a year ago.


AMI urges caution over chancellor’s plans

Chris Cummings, director general of the Association of Mortgage Intermediaries has urged the chancellor Alistair Darling to be cautious over his plans for the Banking Reform Bill and increased mortgage regulation.Speaking from the Labour Party conference in Manchester, Cummings, says: “Any call for increased powers of regulation should be met with caution. In the first […]

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China tech and Global Alpha: a new great leap forward

By Robin Geffen, Fund Manager and CEO

Internet giant Alibaba is exactly the type of entrepreneurial company that the high-conviction, top-performing Neptune Global Alpha Fund seeks to invest in. Established just 14 years ago in an apartment in Hangzhou, today Alibaba is larger than Amazon and eBay put together and is challenging some of the most powerful internet companies in the world…

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The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.


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