Money
Abrdn’s plan to solve ‘vacuum’ caused by cost disclosure rule removal
The recent announcement by the Treasury and the FCA that it will temporarily ban the “double counting of costs” for investment trusts was welcomed by the sector.
However, the immediate removal of the requirement to provide costs disclosures has left a “potential vacuum”, according to Abrdn.
The company has released a ‘Statement of Operating Expenses’ (SOE) template as an interim measure to deal with this issue.
The new template document is for disclosing expenses incurred by investment trusts.
The Treasury also said it will lay out legislation to provide the FCA with the appropriate powers to deliver reform – the new Consumer Composite Investments (CCI) regime.
It said the new CCI regime will deliver more tailored and flexible rules to “address concerns across industry with current disclosure requirements, including for costs”.
The UK’s new retail disclosure regime is expected to be in place in the first half of 2025, subject to Parliamentary approval and following a consultation from the FCA.
Due to the time gap with the new regime not being in place until 2025, Abrdn said that “investors need clarity and consistency among data providers and publishers in the meantime”.
Both Abrdn and industry campaigners have always been clear that the “end objective should be more transparency, not less”.
This is why Abrdn is suggesting the SOE as an interim measure.
Abrdn explained the SOE provides more “relevant and transparent information”, with the added advantage that the underlying data will have been audited, although the SOE itself will not be an audited document.
The SOE is the result of a consultation with data providers and industry participants over recent months.
The rule, to “double counting of costs”, was inherited by the European Union (EU) and makes it appear that investment trusts are more costly to invest in than they actually are.
The disclosure rule required trusts to publish the costs of financing, operating and maintaining real assets.
However, many of these costs were already published in regular company updates and reflected in the value of the share price for all investment companies.
This “double counting of costs” is putting investors off, and an estimated £7bn a year is not being invested due to this issue.
Association of Investment Companies chief executive Richard Stone labelled this issue “misleading” and that the cost disclosure regime was an “unnecessary hindrance to investment trusts”.
Abrdn head of investment companies Christian Pittard said: “The forbearance measures announced on 19 September were a huge leap forward for the investment company sector, but there’s a long way to go yet.
“A potential vacuum has been created by the immediate removal of the requirement to provide costs disclosures.
“There is yet to be agreement on what could and should replace the disclosures, and clarity could be months away.
“Abrdn believes that the sector can and should improve cost disclosure for the benefit of investors.
“That’s why we are proposing a stand-alone cost disclosure template – a SOE, that Key Information Documents (KIDS) and factsheets could refer to.
“While the announcement on exempting investment trusts from cost-disclosure rules was hugely positive, we now see a risk that either an information vacuum on costs develops or conflicting information will emerge – creating confusion and eroding confidence among investors.”
Money
Millions on state pension to receive festive bonus
IF you receive a state pension then you’re eligible for a cash gift from the Government this winter.
The annual £10 festive bonus is paid every year to millions of people on benefits and is designed to help with the extra costs of Christmas.
While £10 doesn’t get you far these days, it’s worth having – better in your pocket than theirs after all – and with the increased cost of energy bills since October 1, it all helps.
Plus, the bonus won’t affect your pension credit or any other benefits and it’s tax-free.
Payment is automatic and you should receive the money into your bank account just before Christmas Day.
Introduced in 1972, the festive bonus is still a welcome extra in 2024, with the cost of living being so high.
Who is eligible?
To be eligible this year you have to be in receipt of the state pension during the qualifying week of December 1-8.
You must also live in one of the following countries:
- The UK
- The Channel Islands
- The Isle of Man
- Gibraltar
- Switzerland
- Any European Economic Area (EEA) country
If you don’t claim state pension or have deferred it then you will not receive the cash bonus.
How do I get the Christmas bonus?
If you’re eligible for the £10 bonus then payment is automatic and it goes directly into the same bank account as your pension payments.
It will show up as ‘DWP XB’ on your bank statement so check your statement to make sure you received it.
If you don’t receive a payment but believe you should have done then contact the Pension Service – the address and phone number are on the Government website gov.uk.
Who else can get the bonus?
The £10 cash bonus is currently paid to those on a range of benefits. These are:
- Adult Disability Payment
- Armed Forces Independence Payment
- Attendance Allowance
- Carer’s Allowance
- Child Disability Payment
- Constant Attendance Allowance (paid under Industrial Injuries or War Pensions schemes)
- Contribution-based Employment and Support Allowance (once the main phase of the benefit is entered after the first 13 weeks of claim)
- Disability Living Allowance
- Incapacity Benefit at the long-term rate
- Industrial Death Benefit (for widows or widowers)
- Mobility Supplement
- Pension Credit – the guarantee element
- Personal Independence Payment (PIP)
- Severe Disablement Allowance (transitionally protected)
- Unemployability Supplement or Allowance (paid under Industrial Injuries or War Pensions schemes)
- War Disablement Pension at State Pension age
- War Widow’s Pension
- Widowed Mother’s Allowance
- Widowed Parent’s Allowance
- Widow’s Pension
What other help is available for pensioners this Christmas?
A winter fuel payment, which is worth up to £300, will be paid to some people receiving the state pension this winter, though not all.
The payment is now means-tested so if you receive pension credit you’re eligible for the one-off annual payment, but if you don’t then you will no longer qualify.
If you’re on pension credit and aged 75 or older, you will also be eligible for a free TV licence.
To check your eligibility for pension credit take a look at the Government website.
Pension Credit explained
Pension Credit is a benefit which gives you extra money to help with your living costs if you’re on a low income in retirement.
It can also help with housing costs such as ground rent or service charges.
You may be able to get extra help of you’re a carer, have a disability, or are responsible for a child.
It also opens up access to lots of other benefits such as the warm home discount scheme, support for mortgage interest, council tax discounts, free TV licences once you’re over 75, and help with NHS costs.
To qualify, you need to be over state pension age and live in England, Scotland or Wales.
If you have a partner, you need to include them on your claim.
Pension Credit tops up:
- your weekly income to £218.15 if you’re single
- your joint weekly income to £332.95 if you have a partner
However, even if your income is higher, you might still qualify if you have a disability or caring responsibilities.
There is also another element to Pension Credit called savings credit. To get this, you need to have saved some money towards your retirement.
You can get an extra £17.01 a week for a single person or £19.04 a week for a married couple.
If you have more than £10,000 in savings, the government uses a calculation to work out how much it adds to your income.
Every £500 over £10,000 counts as £1 income a week. For example, if you have £11,000 in savings, this counts as £2 income a week.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Money
FCA’s advice guidance boundary review is a huge mistake
While realising I am probably in the minority in this industry, I fear the Financial Conduct Authority is about to score a major own goal that will have dire consequences.
Changing the advice guidance boundary will cause a huge dilution of consumer protection.
It will make it easier for manufacturers and others to sell products without advice, avoiding the inconvenience of being responsible for the consequences of their actions.
This risks setting consumer protection back decades.
I passionately believe the advice guidance boundary is in the right place. Now is exactly the wrong time to change it.
We will see widespread misselling, covered up as guidance, with thousands of consumers facing significant losses at a time in their lives when they have no opportunity to earn back the money they have lost.
This risks setting consumer protection back decades
This – entirely avoidable – misselling scandal could lead to compensation payouts of a similar scale to PPI, probably, again, on a non-contestable basis.
The FCA should think long and hard before it makes a serious error that could damage the wealth of millions of people.
Guidance should carry a health/wealth warning. I would suggest a statement along the following lines: “This service is only provided as financial guidance. You do not benefit from the same protection as you would if you take financial advice”.
I anticipate the comments section below will be full of objections to this but, if the consumer is going to receive less protection, this should be made very clear to them.
As we have seen time after time, when the regulator gets it wrong, the industry pays the price
Without such a warning, consumers won’t be able to recognise the difference between advice and guidance.
We are already seeing a growing number of guidance propositions dressing themselves up to look like advice but with none of the consumer protection.
As we have seen time after time, when the regulator gets it wrong, the industry pays the price.
Ironically, the boundary changes are being proposed at a time when technology is making it possible for firms to take a fresh approach to delivering regulated advice at far lower cost and in greater scale.
Hub Financial Solutions, for example, is now able to support as many as 1,000 clients per single highly qualified adviser by combining its bespoke automated advice technology and, in some cases, non-level 4 qualified staff.
The UK can (jointly with Australia) claim a world-leading standard of consumer protection for long-term savers
This enables it to market a service to consumers who would usually be uneconomic to support through traditional advice. The firm is even going as far as collaborating with other established advice firms to buy non-economic clients from them and even agreeing to return these clients should their needs require more sophisticated advice.
This is by no means an isolated example. I am seeing more and more innovative advice firms building high-tech services to make fully regulated advice accessible, with all the consumer protection that provides, for a fraction of traditional costs.
In my work internationally, I see how consumers in other countries suffer from a lack of adequate protection due to limited regulation.
The UK can (jointly with Australia) claim a world-leading standard of consumer protection for long-term savers.
This has been achieved through hard work by advisers, regulators and broader industry players over several decades. Now is not the time to throw this away – especially when technology is beginning to deliver better solutions with the same high standard of consumer protection.
Ian McKenna is founder of FTRC
Money
How to get a sales job in the UK?
OCTOBER marks the start of the ‘golden quarter’ where the majority of sales are made across the UK.
It doesn’t matter what industry you’re in, the run-up to Christmas sees both overall sales – and commission levels – leap.
Discover thousands of UK job vacancies now on The Sun Job Board
Have you ever wondered just how much you could make in a sales job? Click the links to find out your potential pay packet.
Sold on a sales job? Here’s your five-minute ‘need to know’ from Sun Jobs to break into the industry.
What is a sales job?
All jobs in sales involve selling a company’s products or services to customers.
Salespeople play a key role in almost every industry as they are responsible for identifying potential customers, building trust and convincing them to make a purchase.
There are lots of different responsibilities, including selling face-to-face, over the phone, generating leads, negotiating sales contracts and demonstrating products.
You may also be called on to provide after-sales service in some sectors.
Savvy sales people also keep an eye on the market, tracking trends and what competitor companies are doing.
How much do salespeople earn?
Most sales jobs offer a small basic salary with the chance to earn much more in commission.
This means the salary you earn will vary according to how successful you are.
Estimates for sales salaries range from £16,000 for a first job up to £125,000 for a top salesperson in an industry such as estate agency or high-value iT systems.
On average, expect to pocket between £40,000 to £50,000.
What qualifications do you need to get a job in sales?
Sales isn’t about qualifications, it’s about people. The saying ‘people buy from people not companies’ explains why personality is so essential to be a good salesperson.
You need to be tenacious, have the ability to form connections and trust, and be highly organised to keep track of your sales inventory.
That said, most jobs will expect you to have GCSE passes in Maths and English as a minimum and certain professional sectors such as pharmaceutical sales will seek candidates with related degrees.
You can find out more at professionalsalesassociation.co.uk and the-isp.org.
What career progress is there for salespeople?
Plenty. Being a successful salesperson proves you have commercial acumen which can take you into the boardroom or even to become MD or CEO.
Once you have experience and a solid track record in sales, pathways include moving up to be an area or regional manager, where you support an entire sales team.
You could also choose to work in marketing, product or account management.
Discover thousands of open vacancies for jobs all across the UK now on The Sun Job Board
Money
Money Marketing Weekly Wrap-Up – 30 Sept to 04 Oct
Money Marketing’s Weekly Must-Reads: Top 10 Stories
Key highlights include the Chancellor ‘likely to target’ £48bn pension tax relief in the Budget and the PFS-CII relationship being ‘blown wide open’ after the latest developments. Read more below:
Chancellor ‘likely to set sight on’ £48bn pension tax relief in Budget
PFS and CII relationship ‘blown wide open’ after latest saga
Tensions between the Personal Finance Society (PFS) and its parent body, the Chartered Insurance Institute (CII), have reignited after the CII appointed four of its executives, including CEO Matthew Hill, to the PFS board on 1 October.
This follows the controversial “Christmas coup” in December 2022, when the CII imposed directors on the PFS board due to governance issues. The move has drawn criticism from the campaign group OurPFS, which fears this could define the future of the PFS.
True Potential CEO Daniel Harrison steps down after seven years
True Potential CEO Daniel Harrison is stepping down after seven years in the role, following a planned transition since the firm’s partnership with private equity firm Cinven in 2021.
Harrison announced his departure to staff at the firm’s annual conference on 3 October. Co-founding True Potential 17 years ago, Harrison played a pivotal role in the firm’s growth to over 500,000 clients and £31.4bn in assets.
He expressed confidence in the executive team to lead the business forward post-departure.
FCA fines Starling Bank £29m for financial crime failings
The FCA has fined Starling Bank £29m for serious failings in its financial sanctions screening and anti-money laundering framework.
Despite agreeing to restrict opening new high-risk accounts in 2021, the bank opened over 54,000 such accounts between September 2021 and November 2023. An internal review revealed Starling’s automated screening system only checked a fraction of those on the sanctions list.
The FCA criticised the bank’s lax controls, but Starling has since implemented measures to improve its financial crime controls.
Abrdn Adviser hires chief technology and product officer
Abrdn Adviser has appointed Derek Smith as its new chief technology and product officer, starting in November.
Smith, previously CTO at Morningstar Wealth, will lead the integration of technology and product teams, driving innovation and scalability at Abrdn Adviser. CEO Noel Butwell highlighted Smith’s experience in delivering market-leading solutions during a time of digital transformation.
Smith joins amid a leadership expansion, following the recent hires of Verona Kenny as chief distribution officer and Louise Williams as CFO, as Abrdn Adviser focuses on growth and platform upgrades.
FCA secures first conviction for crypto ATM operation
The FCA has secured its first conviction for illegal crypto ATM operation in the UK. Olumide Osunkoya, 45, pleaded guilty to operating unauthorised crypto ATMs, using false documents and possession of criminal property.
Between December 2021 and September 2023, Osunkoya’s network of at least 11 crypto ATMs processed over £2.6m in transactions without conducting due diligence or source of funds checks. His machines, located in convenience stores, were used by those likely involved in money laundering or tax evasion.
Sentencing will take place at Southwark Crown Court.
Royal London chair Parry resigns
Kevin Carr: It’s almost as if we want to put people off…
Standard Life launches free pension-finding tool
Standard Life has launched a free pension-finding tool in partnership with Raindrop to help UK residents locate their missing pensions.
Research revealed that 19% of individuals with multiple pensions have lost track of at least one. Despite the advantages of consolidating pensions, 73% of people with multiple workplace pensions have not done so, often due to uncertainty or difficulty in the process.
Users can trace lost pensions by providing their former employer’s name and employment period, streamlining the search and aiding retirement planning.
Hang Seng ‘performed better’ during 2024 than S&P 500
Money
Nationwide to cut interest rates on savings – full list of accounts affected and if it’s worth switching
NATIONWIDE is cutting interest rates on a host of its savings accounts for the first time in four years.
The building society is slashing rates across the board following the Bank of England‘s (BoE) decision to drop base rate from 5.25% to 5%.
Base rate is the rate charged to high street banks which is then reflected in mortgage and savings rates.
Nationwide, which serves around 17million customers, says it will lower rates by between 0.10 to 0.20 percentage points from November 1.
It is the first time the building society has cut rates on its savings accounts since 2020, when the BoE last dropped interest rates.
Rates will fall on regular savings accounts, children’s accounts, limited access and easy access savings accounts.
Five of Nationwide’s 24 savings accounts won’t see any change in interest.
Its Continue to Save regular savings account will fall from 2.50% to 2.30% at the start of next month.
Meanwhile, its 1-year Triple Access Online Saver 15 will fall from 4.25% to 4.10%.
Its Instant Access Saver 10 account will be cut from 2.40% to 2.20% – a 0.20 percentage points drop.
Tom Riley, Nationwide’s director of retail products, said: “We have worked hard to limit the impact of the recent rate cut on our savers and have taken the decision to not reduce rates on those accounts encouraging a regular savings habit.
“Following these changes, our savings range will remain competitive, and we’ll continue to give savers every reason to put their money with Nationwide.”
The full list of Nationwide’s savings accounts and whether their rates are being cut is in our table below.
Product Type
Account
Previous Headline Rate
New Headline Rate
Change
Regular Savings
Start to Save 2
5.50%
5.50%
0.00%
Help to Buy
3.50%
3.35%
0.15%
Flex Regular Saver 2
8.00%
8.00%
0.00%
Flex Regular Saver 3
6.50%
6.50%
0.00%
Continue to Save
2.50%
2.30%
0.20%
Children’s
FlexOne Saver / FlexOne Regular Saver
5.00%
5.00%
0.00%
Child Trust Fund / Smart Junior ISA
4.00%
3.80%
0.20%
CTF Maturity ISA / Junior ISA Maturity
4.00%
3.80%
0.20%
Smart Limited Access
3.50%
3.30%
0.20%
Future Saver1
3.50% – 4.00%
3.30% - 3.80%
0.20%
Smart Saver
2.50%
2.30%
0.20%
Smart
2.50%
2.30%
0.20%
Limited Access
1 Year Triple Access Online Saver 15
4.25%
4.10%
0.15%
1 Year Triple Access Online ISA 14
4.25%
4.10%
0.15%
LTY Single Access ISA
3.75%
3.65%
0.10%
Single Access Saver / Single Access ISA
3.00%
2.80%
0.20%
Limited Access Saver / Limited Access Online Saver
2.50%
2.30%
0.20%
e-Savings Plus
2.50%
2.30%
0.20%
Triple Access Saver / Triple Access ISA
2.50%
2.35%
0.15%
Instant Access
Flex Instant Saver
3.25%
3.25%
0.00%
Loyalty Saver / Loyalty ISA
3.75%
3.60%
0.15%
Flexclusive ISA / Flexclusive Saver2
2.30% – 2.40%
2.10% – 2.20%
0.20%
Instant Access Saver 10
2.40%
2.20%
0.20%
Instant access savings accounts (e.g. Instant Access Saver, Instant ISA Saver, CashBuilder)3
2.25% -2.35%
2.05% – 2.15%
0.20%
The announcement from Nationwide comes as a number of other banks cut rates on savings accounts.
Santander recently slashed the rate on its easy-access savings account from 5.2% to 4%.
Chase, CHIP and The Co-operative Bank have also cut rates since the BoE’s decision to lower base rate to 5% in August.
Sarah Coles, personal finance expert from Hargreaves Lansdown, said: “It’s not a big surprise to see Nationwide cut rates, because we’ve seen them fall across the savings market as a whole.
“It remains relatively competitive for a high street bank, which is vital for those people who absolutely need to bank in a branch.
“Having said that, it leaves plenty of accounts looking distinctly lacklustre.”
What is the base rate and how does it affect the economy?
NINE members of the Bank of England’s Monetary Policy Committee meet eight times each year to set the base rate.
Any change to the Bank’s rate can have wide-reaching consequences as it directly influences both:
- The cost that lenders charge people to borrow money
- The amount of savings interest banks pay out to customers.
When the Bank of England lowers interest rates, consumers tend to increase spending.
This can directly affect the country’s GDP and help steer the economy into growth and out of a recession.
In this scenario, the cost of borrowing is usually cheap, and the biggest winners here are first-time buyers and homeowners with mortgages.
But those with savings tend to lose out.
However, when more credit is available to consumers, demand can increase, and prices tend to rise.
And if the inflation rate rises substantially – the Bank of England might increase interest rates to bring prices back down.
When the cost of borrowing rises – consumers and businesses have less money to spend, and in theory, as demand for goods and services falls, so should prices.
The Bank of England is tasked with keeping inflation at 2%, and hiking interest rates is a way of trying to reach this target.
In this scenario, the losers are those with debt.
First-time buyers will lose out to cheaper mortgage rates, and those on tracker or standard variable rate mortgages are usually impacted by hikes to the base rate immediately.
Those on a fixed-rate deal tend to be safe if they fixed when interest rates were lower – but their bills could drastically increase when it’s time to remortgage.
The cost of borrowing through loans, credit cards and overdrafts also increases when the base rate rises.
However, the winners in this scenario are those with money to save.
Banks tend to battle it out by offering market-leading saving rates when the base rate is high.
Should you switch?
If you’re a Nationwide customer with one of the affected savings accounts, you might be considering switching to another bank.
According to Moneyfacts, the best easy access account is currently with Ulster Bank which is offering a 5.20% interest rate, although you have to put in a minimum of £5,000.
Customers could try Cahoot’s 5% savings account which you can start adding to with just £1.
The best regular savings account is with Principality Building Society, which is offering 8% interest.
Meanwhile, the most competitive Children’s account is with Saffron Building Society which is 5.55%.
Sarah suggested for those looking to get a better limited access account Coventry BS’ Triple Access Saver is offering 4.83%
She suggested looking at challenger instead of major banks to get some of the best rates on other accounts too.
“You’ll get a far better rate by looking beyond the high street, and considering online bank accounts or online cash savings platforms.
“You can track down the best performers using a price comparison site.
“However, if you know this isn’t something you’ll have the energy for on a regular basis, you can use an online cash savings platform, like Raisin or Active Savings.
“These have competitive rates from a large number of banks, and let you switch between different accounts from different banks without having to complete fiddly paperwork, and with just a handful of clicks of the mouse.”
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Money
Is FCA’s new common-sense focus a risk or reward?
In a landmark case which established the modern law of negligence and the principle of duty of care (Donoghue v Stevenson, 1932), Donoghue sued a ginger beer manufacturer after becoming seriously ill and finding a decomposed snail in her bottle.
The court ruled in her favour, concluding manufacturers owe a duty of care to consumers even in the absence of a contractual relationship.
The application of a common-sense approach to customers’ rights is the same judgement the Financial Conduct Authority intends for firms when applying Consumer Duty.
Proportionality is a watch word for skilled persons as well as regulators – and it should be for firms
Both the FCA and the new government have recently signaled a desire to encourage growth in UK financial services and to promote competition. In part, this can be achieved through more principles-based regulation such as Consumer Duty.
This summer, the FCA announced it would seek to “reduce burdens on firms and support growth” using the opportunity of the Duty and the move to an outcomes-based approach to streamline its rulebook.
A willingness to streamline detailed rules is likely to be welcomed by firms – but it is not without risks when it comes to interpretation and application.
The tension between securing consumer protection and promoting a healthy market is a balancing act which has always existed for the regulator.
The new focus on growth and principles-based regulation could lead to greater uncertainty around interpretation of the rules
On a micro level, we have seen it play out in the skilled person reviews. There’s always a consideration as to how far an intervention should go when balancing the risk of harm to consumers versus unnecessarily damaging a viable firm if the rules are interpreted too stringently.
Proportionality is a watch word for skilled persons as well as regulators – and it should be for firms.
Implications of new ‘growth’ agenda
The regulator has been fairly stringent in its demands over the last five years at firm supervision level around controls and the timeline for embedding these into practice.
Emphasising growth and competition, even as secondary objectives, may result in a reduction in the time required by the regulators for newly enhanced controls to be embedded – for example, three to six months, rather than six to 12 months.
In addition, the principles-based approach of Consumer Duty might point the way in other areas traditionally heavy on prescriptive application, such as Client Assets (CASS) Rules.
We’ve seen high staff turnover at firms and the FCA, which risks inexperience and inconsistency making these calls
In applying CASS, we have seen very specific rules – such as the need to delete square brackets that denote where text is to be added to a template document – resulting in the regulator instructing firms to reissue and re-execute the documents, at significant cost and effort.
So, the new focus on growth and principles-based regulation could lead to a reduction in cost for firms and, in extreme cases, avoid insolvencies. It will, however, also lead to greater uncertainty around interpretation of the rules.
Interpretation will require a higher level of skill and experience from both firms and the regulator to form judgement calls around principles-based regulation.
We’ve seen high staff turnover at both firms and the FCA over the past few years, which risks inexperience and inconsistency when it comes to making these calls. As the new direction becomes embedded, it will be important for the regulator and regulated firms to have experienced personnel in key roles.
What should firms do?
Firms should train and upskill both staff and board members to be able to apply more principles-based regulation.
Staff should be made aware they are doing more than simply following a set of rules, but rather thinking through the intention behind the regulation.
The new direction from the regulator should create opportunity for financial services firms
There will also be a greater requirement from non-executive directors (NEDs) to raise challenging questions at board meetings around achieving regulatory purpose, rather than simply tracking key performance indications or key risk indicators.
The board should also be able to challenge management information they receive along these lines.
In addition, NEDs can bring invaluable experience of how other firms are interpreting principles. While a “me too” approach is not helpful, an understanding of the range of peer interpretations is valuable input.
We see a lot of small firms without independent NEDs (iNEDs) on the board. While costs can be an issue (sometimes more perception than market tested reality), an iNED can help avoid regulatory missteps.
Ultimately, the new direction from the regulator, enabled by the government’s pro-growth and competitiveness agenda, should create opportunity for financial services firms. But it will also require a more nuanced and enquiring mindset around the application and intention of regulatory requirements.
John Higgins is chief executive of Pathlight Associates
-
Womens Workouts2 weeks ago
3 Day Full Body Women’s Dumbbell Only Workout
-
Science & Environment2 weeks ago
How to unsnarl a tangle of threads, according to physics
-
Science & Environment2 weeks ago
Hyperelastic gel is one of the stretchiest materials known to science
-
Technology2 weeks ago
Would-be reality TV contestants ‘not looking real’
-
Science & Environment2 weeks ago
Maxwell’s demon charges quantum batteries inside of a quantum computer
-
Science & Environment2 weeks ago
‘Running of the bulls’ festival crowds move like charged particles
-
News2 weeks ago
Our millionaire neighbour blocks us from using public footpath & screams at us in street.. it’s like living in a WARZONE – WordupNews
-
Science & Environment2 weeks ago
How to wrap your mind around the real multiverse
-
Science & Environment2 weeks ago
Sunlight-trapping device can generate temperatures over 1000°C
-
Science & Environment2 weeks ago
ITER: Is the world’s biggest fusion experiment dead after new delay to 2035?
-
Science & Environment2 weeks ago
Liquid crystals could improve quantum communication devices
-
Science & Environment2 weeks ago
Quantum ‘supersolid’ matter stirred using magnets
-
Science & Environment2 weeks ago
Physicists are grappling with their own reproducibility crisis
-
Science & Environment2 weeks ago
Quantum forces used to automatically assemble tiny device
-
News2 weeks ago
You’re a Hypocrite, And So Am I
-
News3 weeks ago
the pick of new debut fiction
-
Science & Environment2 weeks ago
Why this is a golden age for life to thrive across the universe
-
Sport2 weeks ago
Joshua vs Dubois: Chris Eubank Jr says ‘AJ’ could beat Tyson Fury and any other heavyweight in the world
-
Science & Environment2 weeks ago
Caroline Ellison aims to duck prison sentence for role in FTX collapse
-
Science & Environment2 weeks ago
Nuclear fusion experiment overcomes two key operating hurdles
-
Science & Environment2 weeks ago
Time travel sci-fi novel is a rip-roaringly good thought experiment
-
Technology6 days ago
‘From a toaster to a server’: UK startup promises 5x ‘speed up without changing a line of code’ as it plans to take on Nvidia, AMD in the generative AI battlefield
-
Science & Environment2 weeks ago
Laser helps turn an electron into a coil of mass and charge
-
Science & Environment2 weeks ago
Nerve fibres in the brain could generate quantum entanglement
-
MMA6 days ago
Conor McGregor challenges ‘woeful’ Belal Muhammad, tells Ilia Topuria it’s ‘on sight’
-
Football6 days ago
Football Focus: Martin Keown on Liverpool’s Alisson Becker
-
News2 weeks ago
Israel strikes Lebanese targets as Hizbollah chief warns of ‘red lines’ crossed
-
Science & Environment2 weeks ago
UK spurns European invitation to join ITER nuclear fusion project
-
CryptoCurrency2 weeks ago
Cardano founder to meet Argentina president Javier Milei
-
Science & Environment2 weeks ago
Meet the world's first female male model | 7.30
-
Business6 days ago
Eurosceptic Andrej Babiš eyes return to power in Czech Republic
-
News2 weeks ago
▶️ Media Bias: How They Spin Attack on Hezbollah and Ignore the Reality
-
Business2 weeks ago
JPMorgan in talks to take over Apple credit card from Goldman Sachs
-
Science & Environment2 weeks ago
Future of fusion: How the UK’s JET reactor paved the way for ITER
-
Womens Workouts2 weeks ago
Best Exercises if You Want to Build a Great Physique
-
News2 weeks ago
Why Is Everyone Excited About These Smart Insoles?
-
Technology1 week ago
Robo-tuna reveals how foldable fins help the speedy fish manoeuvre
-
CryptoCurrency2 weeks ago
Ethereum is a 'contrarian bet' into 2025, says Bitwise exec
-
Science & Environment2 weeks ago
A new kind of experiment at the Large Hadron Collider could unravel quantum reality
-
Health & fitness2 weeks ago
The secret to a six pack – and how to keep your washboard abs in 2022
-
Science & Environment2 weeks ago
A slight curve helps rocks make the biggest splash
-
Science & Environment2 weeks ago
Quantum time travel: The experiment to ‘send a particle into the past’
-
News3 weeks ago
▶️ Hamas in the West Bank: Rising Support and Deadly Attacks You Might Not Know About
-
Science & Environment2 weeks ago
Why we need to invoke philosophy to judge bizarre concepts in science
-
CryptoCurrency2 weeks ago
Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam: Asia Express
-
CryptoCurrency2 weeks ago
Dorsey’s ‘marketplace of algorithms’ could fix social media… so why hasn’t it?
-
CryptoCurrency2 weeks ago
DZ Bank partners with Boerse Stuttgart for crypto trading
-
CryptoCurrency2 weeks ago
Low users, sex predators kill Korean metaverses, 3AC sues Terra: Asia Express
-
CryptoCurrency2 weeks ago
Bitcoin bulls target $64K BTC price hurdle as US stocks eye new record
-
Womens Workouts2 weeks ago
Everything a Beginner Needs to Know About Squatting
-
News2 weeks ago
Four dead & 18 injured in horror mass shooting with victims ‘caught in crossfire’ as cops hunt multiple gunmen
-
Womens Workouts2 weeks ago
3 Day Full Body Toning Workout for Women
-
Travel1 week ago
Delta signs codeshare agreement with SAS
-
Servers computers1 week ago
What are the benefits of Blade servers compared to rack servers?
-
Science & Environment1 week ago
X-rays reveal half-billion-year-old insect ancestor
-
Politics1 week ago
Hope, finally? Keir Starmer’s first conference in power – podcast | News
-
Business6 days ago
Should London’s tax exiles head for Spain, Italy . . . or Wales?
-
Technology6 days ago
The best robot vacuum cleaners of 2024
-
Sport2 weeks ago
UFC Edmonton fight card revealed, including Brandon Moreno vs. Amir Albazi headliner
-
Technology2 weeks ago
iPhone 15 Pro Max Camera Review: Depth and Reach
-
Science & Environment2 weeks ago
Rethinking space and time could let us do away with dark matter
-
News2 weeks ago
Brian Tyree Henry on voicing young Megatron, his love for villain roles
-
Health & fitness2 weeks ago
The maps that could hold the secret to curing cancer
-
Science & Environment2 weeks ago
Being in two places at once could make a quantum battery charge faster
-
CryptoCurrency2 weeks ago
RedStone integrates first oracle price feeds on TON blockchain
-
CryptoCurrency2 weeks ago
Blockdaemon mulls 2026 IPO: Report
-
CryptoCurrency2 weeks ago
Coinbase’s cbBTC surges to third-largest wrapped BTC token in just one week
-
Politics2 weeks ago
UK consumer confidence falls sharply amid fears of ‘painful’ budget | Economics
-
Science & Environment2 weeks ago
CNN TÜRK – 🔴 Canlı Yayın ᴴᴰ – Canlı TV izle
-
News1 week ago
US Newspapers Diluting Democratic Discourse with Political Bias
-
Science & Environment2 weeks ago
How one theory ties together everything we know about the universe
-
CryptoCurrency2 weeks ago
Crypto scammers orchestrate massive hack on X but barely made $8K
-
Science & Environment2 weeks ago
Tiny magnet could help measure gravity on the quantum scale
-
Science & Environment2 weeks ago
How do you recycle a nuclear fusion reactor? We’re about to find out
-
CryptoCurrency2 weeks ago
Telegram bot Banana Gun’s users drained of over $1.9M
-
CryptoCurrency2 weeks ago
VonMises bought 60 CryptoPunks in a month before the price spiked: NFT Collector
-
CryptoCurrency2 weeks ago
SEC asks court for four months to produce documents for Coinbase
-
CryptoCurrency2 weeks ago
‘Silly’ to shade Ethereum, the ‘Microsoft of blockchains’ — Bitwise exec
-
CryptoCurrency2 weeks ago
‘No matter how bad it gets, there’s a lot going on with NFTs’: 24 Hours of Art, NFT Creator
-
Business2 weeks ago
How Labour donor’s largesse tarnished government’s squeaky clean image
-
Politics2 weeks ago
‘Appalling’ rows over Sue Gray must stop, senior ministers say | Sue Gray
-
News2 weeks ago
Brian Tyree Henry on voicing young Megatron, his love for villain roles
-
Womens Workouts2 weeks ago
How Heat Affects Your Body During Exercise
-
Womens Workouts2 weeks ago
Keep Your Goals on Track This Season
-
TV2 weeks ago
CNN TÜRK – 🔴 Canlı Yayın ᴴᴰ – Canlı TV izle
-
News2 weeks ago
Church same-sex split affecting bishop appointments
-
Politics2 weeks ago
Trump says he will meet with Indian Prime Minister Narendra Modi next week
-
Technology2 weeks ago
Fivetran targets data security by adding Hybrid Deployment
-
Science & Environment2 weeks ago
Single atoms captured morphing into quantum waves in startling image
-
Politics2 weeks ago
Labour MP urges UK government to nationalise Grangemouth refinery
-
CryptoCurrency2 weeks ago
Louisiana takes first crypto payment over Bitcoin Lightning
-
CryptoCurrency2 weeks ago
$12.1M fraud suspect with ‘new face’ arrested, crypto scam boiler rooms busted: Asia Express
-
Science & Environment2 weeks ago
A tale of two mysteries: ghostly neutrinos and the proton decay puzzle
-
CryptoCurrency2 weeks ago
Decentraland X account hacked, phishing scam targets MANA airdrop
-
CryptoCurrency2 weeks ago
Bitcoin price hits $62.6K as Fed 'crisis' move sparks US stocks warning
-
CryptoCurrency2 weeks ago
CertiK Ventures discloses $45M investment plan to boost Web3
-
CryptoCurrency2 weeks ago
Beat crypto airdrop bots, Illuvium’s new features coming, PGA Tour Rise: Web3 Gamer
-
CryptoCurrency2 weeks ago
Vitalik tells Ethereum L2s ‘Stage 1 or GTFO’ — Who makes the cut?
-
CryptoCurrency2 weeks ago
Ethereum falls to new 42-month low vs. Bitcoin — Bottom or more pain ahead?
-
Business2 weeks ago
Thames Water seeks extension on debt terms to avoid renationalisation
You must be logged in to post a comment Login