I can confirm receipt of the FSA 'minded toauthorise' letter on 30 April 2004.

I am genuinely surprised that so few applications have been received by the FSA to date. I think the next few months will be interesting, to say the least.

I am happy to say that we have done more than simply fill in the application form. We have systems, plans and documentation in place to ensure that we are fully compliant come the glorious day. We haven't used any so-called consultants and can take credit for maintaining our independence by dealing with this in house.

I have attended FSA roadshows and have on a number of occasions telephoned the FSA for advice and must say that they have been, without exception, helpful, efficient and courteous and have given the clear impression that they are there to help, not put us out of business.

I would recommend anyone with any doubts about compliance issues to call the FSA.

Thanks for continuing to produce the only trade paper worth reading.

Duncan Woodcock
Reid Hamilton & Co Ltd

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