Financial Conduct Authority’s Post

Payment terms vote: time to descend from the ivory tower Ahead of today’s crucial vote on the #LatePayments Regulation, we call on the Members of the European Parliament to consider the overwhelming consensus in the Belgian Presidency of the Council of the European Union 2024 to preserve contractual freedom. Dictating payment terms that apply to the whole economy does not work. The decisions on which payment terms to use must remain with the businesses that know their trade-offs in a negotiation. Vaguely defined derogations will only offer complexity and not solutions to the real problem of non-compliance with contracts. For these reasons, we ask MEPs to support amendments tabled in plenary that seek to preserve the freedom of parties to negotiate. More here: https://lnkd.in/e4SczHW6 Leena Whittaker Niccolo Ciulli Roberta Metsola #eurocommerce EPP Group in the European Parliament Renew Europe ECR Group in the European Parliament Eurochambres BusinessEurope Svenja Hahn Stéphanie Yon-Courtin Christel Delberghe

ICYMI: United Kingdom News Has Advantage Points in Global Retail: The statement “United Kingdom News Has Advantage Points in Global Retail” requires further clarification and context to understand its validity. Here’s a breakdown: Potential interpretations: However, to understand the validity of the statement, we need further context: Therefore, while the statement holds some potential for truth depending on the specific interpretation and context, it lacks […] #LatestNews #OnlineListing #Scotland #UKLifestyle #UKRetail

Protectionism 🆚 Competition ሃገር በቀለ አልበቀለ, the adage of "doing-it-right the-1st-time" is better than trial & error inefficiency. Local or foreign monopolies (SOEs too) ✂️g out competition never work for the best interest of local customers. (የኛ-ኬኛ ጉራ እራት አይሆንም። በልመና, ዘረኝነትና ጦረኝነት ዓለምን አሰልችተንም) Long overdue measure, imv. 👇 The Minister, now, admitting failures here: < “Once the preparation of the roadmap is finalized, we will start opening up the trade sector step by step so as to solve the problems it currently has,” said the Minister. The current structure “has multiple inefficiencies leading to product shortages, price hikes, and limited incentives for local producers,” according to the reform agenda.>

𝗦𝘂𝗯𝗺𝗶𝘀𝘀𝗶𝗼𝗻𝘀 𝘀𝗼𝘂𝗴𝗵𝘁 𝗼𝗻 𝗽𝗿𝗼𝗽𝗼𝘀𝗲𝗱 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝘁𝗼 𝘁𝗵𝗲 𝗡𝗭𝗙𝗠𝗔 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗗𝗮𝘆 𝗗𝗲𝗳𝗶𝗻𝗶𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗮𝗱𝗼𝗽𝘁𝗶𝗼𝗻 𝗼𝗳 𝗮 𝘀𝗶𝗻𝗴𝗹𝗲 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗰𝗲𝗻𝘁𝗿𝗲 𝗰𝗮𝗹𝗲𝗻𝗱𝗮𝗿 𝗳𝗼𝗿 𝗡𝗲𝘄 𝗭𝗲𝗮𝗹𝗮𝗻𝗱’𝘀 𝘄𝗵𝗼𝗹𝗲𝘀𝗮𝗹𝗲 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗺𝗮𝗿𝗸𝗲𝘁𝘀. The New Zealand Financial Markets Association (NZFMA) invites submissions on proposed changes to the NZFMA Business Day Definition and adoption of a single financial centre calendar for transactions and settlements in New Zealand’s wholesale financial markets. Key proposals:  • a new NZFMA Business Day Definition will establish Auckland and Wellington Anniversary Day public holidays (alongside all other regionally observed New Zealand public holidays) as good business days for the purposes of transacting and settling in New Zealand’s wholesale over-the-counter financial markets from mid-2024, and  • NZFMA will undertake advocacy with all relevant stakeholders to create consistent recognition of a single financial centre calendar for New Zealand wholesale over-the-counter financial markets transactions and settlements. Consultation closes on 31 January 2024 Submissions can be made by: • Emailing NZFMA at: submissions@nzfma.org with the subject line: NZFMA Business Day Definition, • Sending a letter to: NZFMA, PO Box 641, Wellington 6011, or • Commenting on this LinkedIn post. The consultation document is available at https://lnkd.in/gg_bcfR7

The whole Retail Investment Strategy (RIS) debate has been both fascinating and depressing to observe… All involved parties have claimed throughout to be solely driven by consumers protection and their best interests as top priority… At the end of the day the outcome makes consumers representatives such as BETTER FINANCE - European Federation of Investors and Financial Services Users very unhappy and rightly so. Another missed opportunity to improve things for investors in the EU? 🥲 Another missed opportunity for both producers and distributors of financial products and services to up their game and eventually make a head start in the 21st century? 🥲 After all this I hope the debate on the CMU (capital markets union) will be dropped: there is no point in claiming one thing and then doing the contrary…😉 When there is no real will, there is no way and no need to waste time and energy needlessly!

📢 This afternoon, the European Parliament #ECON Committee voted to continue exploiting retail investors by approving the compromise proposal put forward by rapporteur Yon-Courtin on the #RetailInvestmentStrategy (RIS).   BETTER FINANCE is deeply disappointed by the ECON Committee's approval of the compromised #RIS. Retail investors' interests have been disregarded, allowing the financial industry's agenda to prevail. This decision marks a setback for consumer protection and financial transparency.   Despite our longstanding efforts to reform investment practices, the diluted RIS fails to provide necessary safeguards. We had hoped for Parliament to prioritise citizens' interests, but this approval demonstrates a troubling lack of commitment to consumer protection.   It's crucial that we continue to advocate for the rights of retail investors and push for reforms that strengthen transparency and accountability in the investment market. Let's work together to ensure a fairer financial system for all Europeans. 📜Read our Joint Statement with BEUC - The European Consumer Organisation and Finance Watch here: https://lnkd.in/ezESmTKr   #ConsumerProtection #FinancialTransparency #RetailInvestmentStrategy

Spring Budget 2024: Hunt announces a new British ISA, fuel duty freeze, and non-dom tax overhaul - What do you think of the Chancellor’s latest fiscal plans? Read the full article: Spring Budget 2024 Live: Hunt announces a new British ISA (City AM)

In this week’s blog, we’re exploring the current status of the UK economy and what lies ahead for retail in 2024. targetfollow.com/blogs #Blog #News #Retail #UKEconomy #Recession

In a recent article in The Times, leading UK business figures looked at the trends in what could be a busy 2024. Lisa Gordon, Chair of Cavendish, provided some perspective on the UK market.   In summary, Lisa expects takeovers to persist, driven by compelling opportunities in UK equities. Noteworthy is the recent surge in private equity transactions, highlighting recognition of value opportunities in the UK market.    Looking ahead, she expects a more robust capital market in 2024. The Chancellor's Mansion House statement signals political will for reforms, which, if followed through, could positively impact AIM, the market for growth companies. Lisa also underscores the importance of equities as fundamental to personal financial planning and supports the British ISA idea.    In what could be an interesting year politically, Lisa emphasises the need for the Labour Party to recognise the importance of UK capital markets, with support for entrepreneurs and investors.   Read the full article here - https://lnkd.in/eZWvdYzh (£) #britishisa #aim #takeover

Our latest blog explores the impact of ending tax-free shopping on the UK & London economies. https://lnkd.in/eV7rnEF6