The Financial Services Reform Bill has a request within it from the Treasury to look at the IPS exemptions, do you think we should try and get parity for CICs?
Im not sure of their objectives for looking at the exemptions, but improving financial controls is probably part of it. I'm not comfortable in this area, and just plan to request we're included in their discussions and see where it leads us, there isnt one mention of CICs in the report?
does anyone think we should do more?
Ive attached the white paper, we're way past the response date but these issues are still being dealt with, pages 133-138 are most relevant and page 166 has the consultation questions the Govt want to consider.
Point 9.69 (page 137) states the Govt is already proposing a Legislative Reform Order to enable members of IPSs to invest more than 20k transferable shares, and that increasing the withdrawable share capital would increase the potential for the development of new markets.
Surely a good time to include CIC in the conversation, it would make sense to take the opportunity whilst its being looked at?