Business and Other Briefings
FSA: The Financial Services Authority (FSA) has fined HFC Bank Ltd (HFC) £1m+ with regards to its sale of Payment Protection Insurance (PPI. HFC was in breach of the FSA's Principles for Businesses 9 and 3:
* Principle 9: A firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgement
* Principle 3: A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems
Press release ~ Final Notice ~ FSA - Latest findings on PPI ~ Additional rules designed to improve PPI selling practices ~ Money made clear - PPI
HMRC: The percentage of solicitors and conveyancers submitting Stamp Duty Land Tax (SDLT) forms online has more than doubled in a year. In December 2006, 35,753 registered online, 22% of all legal practitioners, but by December last year that number had increased to 65,346, up to 46%.
HMRC Head of Stamp Taxes for Online Services, Sally Mills, said: "If you submit a return online, you'll automatically be sent a Land Transaction Certificate (Form SDLT 5) electronically, saving both time and resources. You then print off the electronic certificate and send it to the relevant land registry, which registers change of ownership."
Press release ~ Report 39 - Encouraging take up of Stamp Duty Land Tax online filing among solicitors and licensed conveyers ~ HMRC: Introduction to Stamp Taxes Online ~ Land Registry ~ Northern Ireland Land Registers ~ Registers of Scotland
LDA: A business ‘dating agency’ has been launched to help companies across London compete for thousands of business opportunities linked to the London 2012 Olympic and Paralympic Games.
Developed by the London Development Agency (LDA) working closely with London Business Network and London 2012, CompeteFor is intended to help businesses of all sizes bid for London 2012 opportunities by matching companies in London with opportunities in the 2012 supply chain.
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