shaw capital management equities: Shaw warns FSA stance on mutuals could force mergers (clipmarks.com) | Reddit
Martin Shaw, chief executive of the Association of Financial Mutuals has warned that the Financial Services Authority's stance on friendly society's use of with-profits funds will force societies to merge or demutualise in order to survive.
The FSA has sent a 'dear CEO' letter to friendly societies repeating its warning that with-profits funds cannot be used as capital.
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