London exceeds contract certainty targets

Some 65% of all contracts agreed during December were compliant with new London market contract certainty standards, according to the Market Reform Group, beating the target rate of 30%. The news comes as the Financial Services Authority (FSA) enters the closing stages of deciding whether to intervene in the market’s progress to improve contract certainty. The regulator is expected to make an announcement at the end of March after reviewing the certainty levels of 1 January renewals.