Standard Response #2

In an earlier post, I commented on the matter of what our financial institutions, including Standard Life, should and shouldn’t be doing in response to the possibility of a Yes victory. My key point was this:

Unless the likes of SL are to find themselves shrinking to be domestic players only, they have to take measures that will deal with those worries. One way of trying to do that would be to position yourself to be able to reassure customers that their investment funds will remain denominated in Sterling and will continue to fall within the remit of the rUK regulatory authorities.”.

Thanks to Jamesie for adding a comment to that earlier post pointing out that Standard Life has now issued a communication to its customers on this topic. You can read it in full here, but the key message is that – if it feels it becomes necessary – SL will arrange matters to ensure that its customers’ investments continue to

• be transacted in Sterling
• fall within the UK tax and regulatory regimes.

SL’s communication is measured, thought through and determinedly neutral. All I’d want to say in response to this is to repeat what I commented before:

. . . I don’t think that there is anything outrageous at all about what SL has said. Indeed, I think it has acted responsibly, as far as I can tell.”.

If every one of the large institutions did this, an independent Scotland would find itself in a much healthier position than otherwise, which would then remove one of the main planks of BT’s scaremongering.

One thought on “Standard Response #2

Leave a Reply

Your email address will not be published. Required fields are marked *