With the imminent launch of the Small Business Service, the DTI has acknowledged more has to be done to lift the regulatory burden from the sector. This week UK 200 Group corporate finance panel chairman Keith White told Accountancy Age: 'The time has come when, because of the increase in regulation, the single practitioner should either get into bed with some other partners or they do not have a future.' He said accountants working alone today were too vulnerable and that regulators did not understand the way businesses operate when writing new legislation. 'Some of the employees of the regulators are not experienced in what goes on in the real world,' he said. Last week 2,000 professional services firms who conduct investment business - including accountants - were brought under the umbrella of the Financial Services Authority. At a UK 200 Group meeting last week Close Brothers managing director Ron Kent said: 'There is an increasing move for more regulation coming out of the Financial Services and Markets bill, as well as more regulation from the elements of the FSA, the accounting bodies, corporate governance, the millennium bug and the pressure of harmonisation in Europe. It is disproportionate for the smaller guy.' Leader, page 22.
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