Clock ticks for Fidelity

Fidelity Brokerage Services awaits a decision from the UK Securities and Futures Authority (SFA) on whether a ban on new business is to be extended. The ban was imposed in Oct 1996 after the company had received complaints from investors, hit by problems caused by a new computer system. There would be additional pressure on the UK share settlement system, Crest, and stockbrokers' systems, if Fidelity is not permitted to take on new business at a time when share dealing will increase as a result of demutualizations.