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Dr Vince Cable, the Liberal Democrat Shadow Chancellor of the Exchequer will stick his latest oar into the banking crisis later this month when he addresses the British Bankers Association (BBA).
Dr. Cable who is also the MP for Twickenham has made a name for himself on the back of the world economic crisis, will examine the cause, effect and most importantly for his audience, the regulatory changes required to safeguard the future of the banking and finance sector.
The Lecture will be a timely opportunity to examine the new regulatory regime hammered out by Chancellor Darling and the Financial Services Authority this week that will manage the dismantling of the UK's nationalised bank Northern Rock together with the Royal Bank of Scotland that is also, as near as makes no difference, publically owned.
Despite the news that the Royal Bank of Scotland will have to sell off a string of assets including the profitable Direct Line Insurance busiiness and Churchill, the Top brass at the Scottish bank were defiant "I believe today marks a key milestone in the radical restructuring we are undertaking to bring RBS back to standalone strength." RBS Chief Executive Stephen Hester said.
Lloyds Chairman Win Bischoff, however, has managed to guide the banking group away from further state aid and in the hope of winning support from its shareholders and avoid the expensive Government insurance scheme designed to contain the banks bad doubtful debts. "These proposals provide a significantly more attractive, market-based alternative to participating in [the asset protection scheme] and offer superior economic value to shareholders." Bischoff said.
The Association of International Accountants (AIA) who are hosting the Founder's Lecture at the Gibson Hall London on the 16th November, have also invited the BBA Executive Director of Financial Policy & Operations Paul Chisnall and Chairman of the Federation of Small Businesses John Wright. Also on the panel are Robert Skinner, Chief Executive of the Lending Standards Board and Financial Ombudsman Jane Hingston who has special responsibility for handling banking and credit complaints.
Tickets are available from the AIA for £55.00 and £40.00 for their members.
The Association of International Accountants was founded in the UK in 1928 as a professional accountancy body and from conception has promoted the concept of ‘international accounting’ to create a global network of accountants in over 85 countries worldwide.
AIA is recognised by the UK Government as a Recognised Qualifying Body for statutory auditors under the Companies Act 2006, across the European Union under the Mutual Recognition of Professional Qualifications directive and as a Prescribed Body under the Companies (Auditing and Accounting) Act 2003 in the Republic of Ireland. AIA has supervisory status for its members in the Money Laundering Regulations 2007 and the AIA professional qualification is currently recognised in over 30 countries worldwide.
Dr. Vince Cable has a degree in Natural History and Economics from the University of Cambridge
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