IFAs could face new burdens under independent Scotland

The government's report into the effects of an independent Scotland on the financial services sector, Scotland analysis: Financial services and banking, said Scotland would have to set up a separate regulatory regime should it decide to leave the UK, which would mean higher costs and more compliance burdens for firms. Should the independent country join the European Union, the report claimed, it would have to go even further and establish its own financial regulator. Both systems would require firms operating across the UK to pay two lots of regulatory costs and have a passport to trad...