They’re lovely lovely people and would help anyone out….but it’s really really starting to wear me down watching their behaviour. It also really worries me….my girlfriend has never known her dad and was brought up at her grandparents with her mum. Her grandad has had a few health issues and she is terrified of losing him…..he really is basically her dad.

Tell him that she’s terrified of losing him, he’s probably to much of a twit to realise how much he means to her.

https://www.hedgeweek.com/2020/12/17/293745/delegation-model-under-spotlight-european-commission-reviews-aifm-directive

It appears that it’s just France blocking UCITs so far, might be wrong, can’t ask the missus at the moment. It seems to be France trying to drive the changes to boost their own industry.

Both articles I’ve posted point out the risks to the EU and how this could backfire though.

https://www.ft.com/content/96607c9a-351e-4c51-9c33-48bd5976cf84

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
https://www.ft.com/content/96607c9a-351e-4c51-9c33-48bd5976cf84

The Hong Kong asset management association has warned that a Brexit-related overhaul of the EU’s retail fund rules could have the unintended consequence of undermining the dominance of European funds in Asia.

Sally Wong, chief executive of the HK Investment Funds Association, said any move by the EU to unpick the outsourcing model on which global asset managers rely could spur Asian countries to seek to lure capital away from the €17.7tn European fund industry.

Funds governed by Europe’s retail fund framework, known as Ucits, are sold across the world and are particularly popular in Asian jurisdictions such as Hong Kong, Taiwan and Singapore.

Part of the success of Ucits funds is so-called delegation, which allows asset managers to set up a fund in an EU country and carry out portfolio management in another location, such as London, Hong Kong or New York.

But in August the EU’s top financial regulator recommended sweeping changes to the delegation rules in response to Brexit. Though the proposal has not been formally adopted, it is expected to be taken into consideration in the upcoming review of the EU’s asset management rule book.

Ms Wong said that policymakers in Brussels should carefully consider the global implications of any changes to delegation, noting that Asian authorities’ increasing focus on boosting their local fund industries made it an “inopportune moment” to review the rules.

Hong Kong and Taiwan have taken steps to boost the attractiveness of locally domiciled funds in recent years, while Singapore launched a new fund structure in January in a bid to lure global fund managers. In addition, some Asian countries have come together to launch cross-border fund passport or mutual recognition schemes.

Ms Wong said Asian authorities may seek to profit from the fragmentation created by an overhaul of the Ucits rules by speeding up their attempts to win local business. “If [the] proposed changes undermine [Ucits’] core strength and bring uncertainty to the industry and investors, there is all the more reason for [Asian regulators] to accelerate these changes,” she said.

Her comments are the latest in a series of warnings that changes to delegation would threaten the seamless market access that has driven the huge growth of the global asset management industry.

Paul Schott Stevens, chief executive of the Washington-based Investment Company Institute, another trade group, said the proposal to limit delegation was the latest example of an anti-globalisation mindset. “It would be a real concern if that relatively free access to best-of-breed investment services was compromised,” he said.

However, Stewart Aldcroft, chairman of Citigroup’s Asian fund servicing arm, said increased costs because of restrictions on delegation would not necessarily be enough to entice international fund groups to launch onshore Asian funds.

“Global managers have often avoided local set-up in Asia as they try to avoid proliferation of funds,” he said. Fund groups would only establish more local products if they anticipate high sales potential, he added, noting that with the exception of the China-Hong Kong scheme, the other Asian fund passporting initiatives have so far generated “negligible volumes”.

Yoon Ng, director of Asia-Pacific insights at Broadridge, a research company, added that while demand for European products would fall in countries where local fund pushes are under way, managers would continue to favour Ucits because of its cross-border portability. “None of the Asian fund passports come close to the reach and scope of Ucits,” she said.

But for how long Oakley? Thats the point. Is there not still a grace period in action but the EU are intending to force much more financial trade into the euro zone?

I dont believe there is grace period for the others, its a matter of deciding strategy now for the EU. As mentioned in previous articles I posted, the EU has to be careful not to shoot themselves in the foot. If for example they went full protectionist and started say going after non-UCITs funds then the rest of the worlds financial markets are going to retaliate. How do you think the EU would fair if they were locked out of American and Asian financial markets?

Well the roads seem fairly busy out there where I’m looking. Kids out wandering with parents too so I guess none of them are doing any online learning.

Doesn’t seem much quieter here either!

It already has. I can no longer include British based funds in my French PEA portfolio:

https://www.amf-france.org/fr/actualites-publications/actualites/brexit-quoi-de-neuf-pour-votre-epargne

Seeing this coming I’ve made changes progressively and now have zero exposure to the UK. Just as well, between the under perforamance of the FTSE and weakening pound I’d have lost enough to pay for a couple of years of junior’s education.

Again, the missus isn’t hugely bothered by this – this rule affects non-professional investors basically non-high net worth investors. This won’t hit them and they are still operating their funds out of Jersey.

There are a number of other fund types that aren’t covered by that ruling as well.

I can and I can’t, I sort of expected them to at least make sure they were spending their money wisely being that they call themselves Tories.

But nooo, six months of my knocking heads together to help get a vaccine manufacturing facility up and running pissed up the wall.

Fair enough!

Sorry, I just can’t quite believe we’ve got to a point where we’ve spent **** billions on vaccines and lockdowns to then seemingly shit the bed at the last minute and spaff all that effort and money away.

Absolutely this. We are building new ICUs and HOBs here, additional staffing is being provided by redeployment but the pool is getting smaller.

So what capacity is there, beyond the soundbites pedalled by the government, if push came to shove and we brought in as many retired/industry doctors/nurses as we could and mobilised all of the militaries healthcare resources? How much could we squeeze from the stone?

We won’t outrun it with vaccination, it will save a few of the deaths (and is worth doing!) but won’t stop the spread quickly enough to matter.

If this is the case, then Q4 2021/Q1 2022 is going to be marked by a lot of squabbling over whether relying on a second and third full lockdown was preferable to adequately ramping up hospital capacity. So much so, that I suspect it will be a major question in any inquiry that comes next.

I read a fair bit around this and the EU taking as much financial services as it can into the eurozone is clearly a key aim and they have made it clear that skeleton or symbolic workforce in the EU will not do. all traders and the computer systems must be under the control of the european courts and regulators by being based in the eurozone

Those traders won’t account for that many jobs and will be counting for increasingly less as their systems become more and more automated.

If the EU blocks outsourcing of fund and portfolio management, that would hit the structured trading business mentioned above, this has only been suggested by a few hardliners within the EU and there are ways to ameliorate the effects of such a policy – the yanks would likely ratchet up their trade war on the EU and there may well even be capital flight out of the EU.

Hooooly shiiit, if thecaptains right about those numbers surely we’re getting on for herd immunity levels by April/May?

The vaccines are too little too late going off those numbers!

6 billion removed from the uk economy on the first day of trading since brexit.

I might add, what we need as well are houses with better ventilation systems. I’ve got a pretty nice flat in Sheffield but it’s close to some busy roads, was getting quite bad rhinitis towards the end of the rush hour. My Philips HEPA filter seems to have sorted this and has massively dropped the PM 2.5 levels in the flat.

My previous flat in London had a proper HEPA ventilation system built in to it.

This has been discussed quite a bit recently in the press and I’ve heard a lot of lobbying from one group in particular about this. With the phasing out of coal the popularity of wood burning is only going to increase. If I was an influential person with the ear of politicians it would be great if I could start a certification scheme, get it written into legislation and then have it law that my logo had to be on every bag of firewood sold in the UK. That would be I tidy little earner.

Funny enough a scheme of that nature has already been set up, you can be sure the woodsure scheme will be law before too long and the people behind it will do very well out of it.

Who is going to police what wood you’re burning?

They’ll be banned due to the media attention pm 2.5 is getting after the Ella Kissi-Debrah case.

The question I suppose, and one I don’t know the answer to, is how reliant is Scotland on the rUK?

One of the big problems with the UK leaving the EU was that many of our international agreements are via the EU – ie, we don’t have agreements explicitly in our own name. Is the same true of Scotland, do they have relationships by dint of being part of the UK which they would lose?

I mean, a lot of this is likely moot if they can leave the UK politically and rapidly rejoin the EU, which is presumably the end game if they do leave. Which would be most beneficial / harmful I wonder?

NATO, IMF, WHO, UN etc would probably all need to be reapplied to. The CTA travel area might not apply to Scotland either.

then what on earth do you think Scotland leaving is going to do?

It will further the isolation of England, so a win win for the EU and Scotland.

Why the hell didn’t they take the gamble on massively ramping up production 3 months ago. Unless it has a limited shelf life surely it would have made sense to throw everything at the production process in Sep, if they had (they claim they can produce 2 million doses a week) they’d have nearly 25 million doses good to go on Monday, instead of 4. If they subsequently found out the vaccine didn’t work we’d have wasted 100 million..chump change in the grand scheme of things.

Because we didn’t have the manufacturing capacity to do 2 million doses in the Uk 9 months ago.

We’ve literally been building that capacity, including me.

I know somebody designing the systems to repurpose an animal vaccine facility in the Netherlands, started back in the summer with a blank chequebook and a massively compressed timescale and told “just get it done” this for a vaccine that is yet to approved. (One of the bigger firms, not saying which)

I worked on a similar project in the UK.

The vaccines manufacturing Centre is nearly up and running.

Lol which one? There’s actually a few, of which only one is actually close to being up and running.

– The end of CAP and the ridiculous policy of paying farmers on the amount of land they manage which encourages habitat destruction. We could instead pay them rewild unusable land or use it for other purposes.

Good luck with that. Massive food price hikes and more importation.

– The unrestrained ability to provide state aid for industry as part of a comprehensive industrial strategy to rebuild the UK’s manufacturing base and rebalance the economy from the existing bias towards services and finance.

Good luck with that, we still have to commit to the level playing field.

– Use UK govt procurement to support and stimulate british business. The government is the single largest procurer of goods and services in the economy, it common sense for it to use that power to the benefit of the UK economy.

Uk governments military procurement and Catapult program is an abject failure. If you ever actually worked in a government directed industrial initiative you’d commit seppuku. Personally, I was considering boarding a flight to Papua New Guinea, getting naked and taking a huge dose of opiates before jumping into a Gympie-gympie bush.

– Provide more transparent and accountable governance so that voters can easily understand and see what is being done in their name and how it affects them. This will rebuild trust between people and politicians, and provide greater democratic legitimacy.

Hahahah.

Tbh I would if I was the CEO.

Europe’s the bigger market so lots of savings by moving the outfit to the continent. Plus less political risk.

Loling my cock off at Brookes

I do not think excluding the unvaccinated is a realistic option due to the logistics for implementing and enforcing it.

The logistics are easy if you use bullets to exclude them.

I jest, but this is what they deserve from a moral standpoint.

Oakleymuppet. At great expense with a horrid beurocratic process and give up her French citizenship

Dual nationality not allowed in France?

It’s about 1800 quid to do it, my wife did it but her country allows dual nationality.

Edit: France has allowed dual nationality for several decades.

https://mobile.twitter.com/WilliamShatner/status/1316887009198141441

William Shatner even weighed in on the tax changers – 1000 a year in fees to HMRC for the privilege.

How arrogant are the UKs political classes?

And on top of that, she has never claimed benefits, never been able vote in a general election was not given a voice in the referendum

Fairly sure she could claim citizenship after that amount of time being settled here – it’s 10 years for the non spousal route isn’t it?

What a surprise. Corporations in valuing larger markets shocker.

But I thought Britain was amazin and we had everything that wot better than everwun else.

Hahah that dutch bike shops response is fantastic. What are the implications of the new tax regime for the rest of the world then? Are we seeing other non-eu businesses pulling out of the uk market?

<p lang=”en” dir=”ltr”>He made a promotional video for UKIP. Wonder how many people he told "You lost get over it" before his orders started to dry up bc of the Brexit catastrophe he voted for. pic.twitter.com/O00325KQLk</p>— Britgirl Explains Brexit #FBPE (@MarieAnnUK) December 30, 2020

<script async src=”https://platform.twitter.com/widgets.js&#8221; charset=”utf-8″></script>

Hahahahahahahaha.

Arrrrrhahahahahahahahahahahahahahahahahahjajajajjajajajajajajajajajaaaa.

Reductio ad absurdum can be a valid technique.

Full Member

So in the last page the UK has been compared to North Korea, Iran, Cuba and fascist Italy.

“To think out a problem is not unlike drawing a caricature. You have to exaggerate the salient point and leave out that which is not typical. “To illustrate a principle,” says Bagehot, “you must exaggerate much and you must omit much.” As to the quantity of absolute truth in a thought: it seems to me the more comprehensive and unobjectionable a thought becomes, the more clumsy and unexciting it gets. I like half-truths of a certain kind — they are interesting and they stimulate” – Eric Hoffer

Premier Icon
baboonz
Free Member

Actually, **** it. Stay salty. I’m done with this thread for a while.

Don’t worry, I will, I’m currently basking in the salty tears of brexiteers. The saltiness should stay for quite a while.

https://www.theguardian.com/politics/2021/jan/01/residents-furious-brexit-lorry-park-kent-village

But just minutes away, beyond the famous white cliffs, the sense of fury over Brexit was palpable as local residents came to terms with a government letter they received on New Year’s Eve telling them that from summer, their rural idyll of farmland and ancient Roman ways would be transformed into a customs clearance lorry park for 1,200 trucks.

Unless remainers toughen up we’ll have another 20 years of uninterrupted Tory governments

Oh no, a thousand year Tory reich like we warned the lexiteers about. Sounds great, I’ll vote for it.

Then certain English demographics will understand what it is ACTUALLY like to live in a country with high levels of inequality.

The next party to lead the country will be off the back of a ‘we reject the Cuba model’ campaign. Good luck with

And I will wholeheartedly vote for that party, to make the lives of Northern brexiteers everywhere – worse.

As I’ve said, I’ll spend the resultant drop in taxes for me on European goods. Also voting Tory means the Scots will flee quicker and then I’ll put my best fake Scottish accent on and try to fit in with them. I might pay TJ for Scottishy lessons but I’m sure it would just end with me being knocked out.

With the major difference being that Cuba’s isolation was forced upon them; we have forced it on ourselves

I mean going communist just off the coast of North America would be like us using Brexit to announce or insinuate a long term plan to destabilise the European uni….oh wait….shit

Brandon Lewis seems like he is trolling.

Anyway it’s all going to be fine, remember that Mussolini performed a Brexit from the League of Nations in 1937. Six years later, his corpse was hanging upside-down, suspended on meat hooks from the roof of a petrol station.

As I said, everything’s going to be awesome. Get with the team guys.

We can still build a fair society with a lower GDP, immigration control, trade barriers etc.

See “We can’t buy soap but at least we’re all equally poor” Cuba for further detail.

it’s plainly to the UK’s advantage for its government to be able to make policy without having some of it restrained by treaties with other supra-national organisations

That kind of attitude has really worked out well for North Korea, Iran and Cuba. Their make stupidity great again experiments have worked out really well and hasn’t at all led to a superpower ruining them. I mean at least they’re saving 350M a week though right?

Where interests align it obviously makes sense to have agreements with other countries,

And where your actions piss off much bigger neighbours you shut the **** up and toe the line.

Which Britain will have to do, now it’s the EU’s little bitch.

Not because it was needed to avoid No Deal, but because he wanted to win back some of the scum vote that he lost to the Tories in the last election. Which I will never forgive him for.

+1