first_img Share Tags: NULL Show Comments ▼ CHARLES Stanley chairman Sir David Howard yesterday railed against the “Monty Python-esque” barrage of new regulation hitting the independent stockbroking sector, even as the firm reported a 33 per cent surge in pre-tax profit for the half year.Howard, an ex-Lord Mayor of the City of London, said new measures introduced by the FSA are excessively blunt, without the finesse necessary to ensure new regulation is appropriate to every corner of the industry.“The political pressure on the FSA means they are stretching the new rules far beyond a sensible level,” he said. “It’s a death wish on the part of the UK to make us less competitive.”Howard said extending the new remuneration code to independent fund managers and stockbrokers did not take into account their business models, which are entirely different to those at large investment banks.Stockbrokers and fund managers are also having to devote an increasing amount of time and energy to jumping through hoops on new capital and liquidity standards, he said.Charles Stanley itself delivered a solid performance over the first half, growing pre-tax profits by a third to £7.3m and revenue by seven per cent to £59.7m, thanks to a jump in income at its private client division. KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutioncenter_img whatsapp Wednesday 10 November 2010 8:08 pm whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap CharlesStan boss attacks regulation last_img