Cicero Analysis
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Ten years in the making: What happened to HIPs?
 Fewer
policies seemed so entrenched within the Government's programme
than Home Information Packs. A reference was made to them in
the 1997 election manifesto, they were researched and piloted
in 1999, proposed in 2000, relaid at the start of 2004, passed
into the statutory books in late 2004, had their Draft Regulations
laid just a few weeks ago and are less than a year from implementation.
Almost a decade in the planning – and then, with the
whisper that is a Written Ministerial statement, they are suddenly
to all intents and purposes scrapped. Where did it all go wrong...?
Full article
Yes, Minister: Is Sir Humphrey running the country?
 The
public policy debate just in advance of the Parliamentary recess
always takes on the frothiness of the start of the silly season
—in political terms at least. However, as we enter the long
recess until mid-October, there is a feeling abound that the
civil service is firmly in charge of the ship while ministers
await the handover of power from the Prime Minister to, most
probably, the Chancellor...
Full article
Making the EU Single Market for Financial Services—
Insurance and Reinsurance
 For
many years, financial services regulation in the former European
Community was fragmented. However, over the last two decades
or so, a common framework for the regulation of banking (and
latterly insurance) has been created across the European Union
Member States. This process has culminated in the Financial
Services Action Plan—although obstacles remain to full
implementation...
Full article
NPSS: Friend or foe?
 In
my spare time, I run a standing conference for senior professionals
in the pensions space. We last met at the beginning of June,
just after the White Paper detailing the likely timing and
shape of NPSS (or Individual Pension Accounts) emerged...
Full article
Thorny issues: What is the future of hedge funds and regulation
in Europe?
 The
European Commission’s open hearing on investment funds
was one of the premier debates on the European fund industry
to be held this year. On the agenda were the future of hedge
funds, private placement capital and market efficiency in UCITS-compliant
investment funds...
Full article
TCF and the shift to principle based regulation: building
on progress?
 The
FSA has repeatedly made soothing noises about the need to reduce
the inflexibility and costs of its regulatory regime, especially
in retail markets. The publication by the FSA of Treating Customers
Fairly – towards fair outcomes for consumers might be
a good time to take stock of how a flagship piece of principle-based
regulation is shaping up...
Full article
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