FSA concerns cause S&C to put brakes on acquisitions.
Smart and Cook has put a halt to its acquisition activity because it fears that the Financial Servic...
Smart and Cook has put a halt to its acquisition activity because itfears that the Financial Services Authority's financial proposals could
adversely hit its accounts.
Paul Meehan, group managing director at Smart and Cook, says clause 6.73
of CP 174, which proposes that intangible assets such as goodwill be wiped
off the balance sheet, would devalue his company overnight.
He also fears that wiping out goodwill would also mean that he - and other
brokers - would be unable to get bank loans. He
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