The Telegraph (Free subscription) | 11/02/2009
Lord Turner chairman of the Financial Services Authority has warned that breaking up Britain's banks could make the system more risky not less.
The Telegraph (Free subscription) | 11/02/2009
Lord Turner said breaking up Britain's banks to separate retail from investment banking could increase risks in the system.
The Observer (Free subscription) | 2 hours ago
... as a Tobin tax – to restrain the excesses of the Square Mile. It is a move the FSA chairman, Lord Turner, has previous endorsed. Sants also appeared to hit back at critics who want to change the way the City is regulated, particularly the Conservatives, who want to disband the FSA. He insisted the regulator has a track record for making a difference. He also waded into the debate...
The First Post (Free subscription) | yesterday
... form has been around for years and came up again in August when it was proposed by FSA chairman Lord Turner. Through the international clearing systems, a kind of sales tax or stamp duty system would be easier to implement than its opponents (who believe it will penalise pension funds, not banks) suggest. The tax was not originally proposed as a revenue-raising exercise. Its author,...
News Scotsman (Free subscription) | 11/08/2009
... trading, has brought the idea of a Tobin tax back to the fore. In the UK it was refloated by Adair Turner, who argued that previous approaches to financial market regulation needed to be radically rethought.Britain was opposed, suspecting the move by France to champion a Tobin tax was a thinly disguised competitive assault on the UK and the City of London – global leader in currency dealings....
Scotland on Sunday (Free subscription) | 11/08/2009
... trading, has brought the idea of a Tobin tax back to the fore. In the UK it was refloated by Adair Turner, who argued that previous approaches to financial market regulation needed to be radically rethought.Britain was opposed, suspecting the move by France to champion a Tobin tax was a thinly disguised competitive assault on the UK and the City of London – global leader in currency dealings....
Times Online (Free subscription) | 11/07/2009
... the legitimate issues.”A Tobin tax — named after James Tobin, the economist — was floated by Lord Turner, head of the Financial Services Authority, in the summer. Alistair Darling, the chancellor, insisted Geithner’s opposition did not rule it out. “The US, like we do, recognises that there are various issues you have to deal with and that a lot of work is required,” he said.Angela...
The Telegraph (Free subscription) | 11/07/2009
... remuneration policy eight days ago to the City watchdog, which is now scrutinising the proposals. Lord Turner of Ecchinswell, chairman of the FSA, has promised that the regulator will be "tough" in one-on-one negotiations with the banks to ensure they do not eat into reserves to pay bonuses. Barclays' decision to change how it compensates staff comes as the bank will on Tuesday report...
Britannia Radio (Free subscription) | 11/03/2009
Listen now (40 minutes)Availability:Available to listen.Last broadcast today, 20:00 on BBC Radio 4.Next On:Sunday, 17:00 on BBC Radio 4SYNOPSISThe head of the Financial Services Authority, Lord Turner, has questioned the social usefulness of what banks do. But as he and other regulators wrestle with ways of controlling so-called 'casino operations', Michael Robinson lifts the lid on the...
Tim Worstall (Free subscription) | 11/03/2009
Lord Turner said that although the “extreme narrow banking proposal is clearly doable in practical terms…. I believe [it] could produce a financial system even more vulnerable to instability than the one we have today.” He added: “Such a division would clearly not [...]
Green Gem IFA Blog (Free subscription) | 11/03/2009
'End game' near for final salary pensions The "end game" for final salary or defined-benefit pensions is rapidly app-roaching, the EEF, the manufacturing employers' association, said yesterday as its latest annual survey showed a continuing fall in the number of schemes... Splitting banks will backfire, warns FSA boss Lord Turner, chairman of the Financial Services Authority,...
The Bankwatch (Free subscription) | 11/03/2009
There has been much talk of systemic risk since the financial crisis hit. I see it more as a crisis of banking and banking confidence, and the debate on systemic risk is critical because it exists because of Government intervention and protections, implicit and explicit. The latest from Lord Turner of the FSA is a [...]
Londonist (Free subscription) | 11/02/2009
... on 11%. Increased EU regulation, the new 50% top rate tax, and the outspoken opinions of FSA chief Lord Turner, who has called for an end to the " swollen City ", are thought to be behind the switch. Yet the poll is somewhat contradicted by a recent World Economic Forum report that claimed Britain had overtaken the USA as the world's largest financial centre. Once again,...
