Uproar is around the United Kingdom Financial Market with potential new rules being forced on Financial Adviser's regarding the solvency of their business. Currently, most smaller financial advisers are required to maintain an accessible cash fund of around £10,000. This is more than accountants, solicitors and indeed most others types of industry are allowed to go overdrawn. Under new EU plans, they may force financial advisers to have accessible funds of around £30,000!
Our view
If you were running a small business could you really afford to have £30,000 sitting in the bank doing nothing? Euro nutters!