- Key Updates to the Financial Services Bill Promote Social Investment
- November 26, 2012
- Law Firm: Withers Bergman LLP/Withers LLP - New Haven Office
The important amendment, introduced by Lord Sassoon, recognises that social investors have different objectives and expectations to those investing solely for financial return.
It comes after Lord Hodgson had raised the issue of concessions for social investors. Lord Hodgson has tabled an amendment which would allow the new Financial Conduct Authority and Prudential Regulation Authority to differentiate between consumer protection and social investment.
There has also been a focus on community finance with Baroness Kramer and Lord Sharkey seeking to require banks to disclose their lending to small and medium enterprises by postcode.
The Bill is currently at the report stage in the House of Lords.