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Sovereign stops conceptual programme

Media Statement
9 November 2001


Sovereign stops conceptual programme


Sovereign’s Business Development Programme that was at the conceptual stage will now not proceed to finalisation. We regret that it has been misinterpreted prior to its finalisation and launch without the full facts being known.

Speculation about the Programme before details were released to advisers have focused on the value of the business development grants on offer, and this has seriously compromised the ability of the Programme to succeed.

Whilst Sovereign strongly believe in investing in the financial services industry, there is no value to customers, advisers and Sovereign in finalising the programme which as a consequence of speculation has the potential to cause anxiety amongst our customers and within our industry.

Ends.

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