IG exec receives government apology

31 May 2004

Peter Richards, the executive director of IG Group's Australian business has won an out of court settlement and an apology from the New South Wales state government.

Richards, who owns a 16% stake...

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.