KYMIN Financial Services hosted a meeting at its city centre offices with Phillip Hammond, Shadow Chief Secretary to the Treasury, along with Newport West Parliamentary Candidate, Matthew Williams and Newport East Parliamentary Candidate, Dawn Parry.
Mr Hammond visited Kymin, which has its head office in Newport from where it serves South Wales, on a fact-finding mission to gauge the leading financial institution’s reaction to Conservative Party proposals to alter financial regulation. Mr Hammond told Kymin: “The plan is to hand regulation of the banks to the Bank of England and to set up a new consumer protection agency to regulate financial advisers. In the process the FSA, as such, will be abolished”
Phillip Hammond also took the opportunity while at Kymin’s Bridge Street headquarters to discuss with Dan O’Connell, head of Redmayne-Bentley, Newport’s only Stockbrokers, the future for interest rates and Government Stocks.
While in Newport Mr Hammond also met the Conservative candidates for Newport West Matthew Williams and Newport East Dawn Parry.
Robin Hall, a Director of Kymin Financial Services, said: “Kymin are hopeful that this visit will be followed by one by a Labour Treasury spokesman and from those of the other parties, as we believe that in the aftermath of the banking crisis politicians of all stripes need the feedback from leading financial services firms such as Kymin and Redmayne-Bentley.”
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