Category Archives: News

Review Into The Financial Services Regulatory Framework Launched

At Spring Statement, the Chancellor announced HM Treasury’s Future Regulatory Framework Review

HM Treasury

HM Treasury

  • First phase of the Financial Services Future Regulatory Framework review launched
  • Call for evidence will look at how coordination between the regulatory authorities could be improved
  • Future phases will look how the framework needs to adapt to UK leaving the EU

Plans to ensure the UK’s financial sector remains one of the best places in the world to do business have been set out by the government today (Friday 19 July).

Launching the call for evidence – the first phase of the Future Regulatory Framework Review – City minister John Glen said that the current regulatory system had ensured a financial services sector that was both safer and more competitive.

However, he added that we must continue to ensure that it enables innovation in the future.

The call for evidence is the first phase in a number of planned interventions by the Treasury to determine the long-term effectiveness of the regulatory regime. It will look at whether more can be done to better coordinate the work of each regulator and limit unnecessary burden.

The wider review will take stock of the overall approach to regulation of the financial services sector, including how the regulatory framework may need to adapt in the future, particularly in relation to the when UK leaves the EU.

City Minister, John Glen, said:

The UK’s financial services sector is vital to our economy and I want to make sure it endures in the future – innovative, competitive and safe from shocks like those we saw during the financial crash.

Our regulatory framework has played a vital role in encouraging competition while protecting consumers, and has made the UK one of the best places to invest and do business.

It is now right that we step back to look at how the system is working more widely, and what changes may be needed in the future to adapt to the UK’s new position outside of the EU, whilst maintaining the strengths of our current framework, including our world leading independent regulators.

The major, long-term review was first announced by the Chancellor, Philip Hammond, at Spring Statement and reiterated last month in his speech at Mansion House, where he said the review would deliver a regulatory system that protected customers while maintaining the highest standards.

The Chancellor yesterday held a summit with the financial regulators, where they committed to taking forward work to improve regulatory coordination alongside the call for evidence.

Future phases of the review will examine how the framework should adapt to the changing landscape after the UK has left the EU, once the details of the future relationship are clear.

The review invites submissions on the first phase, which will look at how the overall impact of regulatory change on the financial services firms and their customers is managed, including coordination between regulatory authorities.

Packaging Merger Raises Competition Concerns

The CMA has found food and drink suppliers could get a worse deal on their packaging if 2 specialist firms merge

Packaging

Packaging

The Competition and Markets Authority (CMA) has been investigating Liqui-Box’s proposed takeover of DS Smith’s rigid and flexible packaging business.

As part of its initial, Phase 1, investigation the CMA found that Liqui-Box and DS Smith are 2 of the 4 main companies in the UK, offering a specialist type of packaging called Bag-in-Box to food, wine, dairy and drink suppliers.

If the deal is allowed to go ahead as planned, the CMA is concerned it could create insufficient competition in the supply of these products, leading to their customers potentially having less choice and paying higher prices, especially as there are very few large suppliers in the UK.

The CMA is also concerned that the reduction in competition could lead to lower quality products and/or a poorer service.

If the merging businesses are unable to address the CMA’s concerns, the deal will be referred for an in-depth Phase 2 investigation to be carried out by a group of independent CMA panel members.

All information relating to the merger is available on Liqui-Box/DS Smith inquiry page.

Speech: PM Speech At Police Bravery Awards 2019 Reception

The Prime Minister delivered the following speech at the Police Bravery reception at Downing Street

The Rt Hon Theresa May MP

The Rt Hon Theresa May MP

Welcome everyone to this particularly special afternoon. It is a huge privilege to be hosting you all here ahead of tonight’s event.

Nothing says more about our outstanding policemen and women than the everyday acts of heroism that we hear about at the Police Bravery Awards.

In my time as Prime Minister, and previously as Home Secretary, I have attended many police award ceremonies. I have also attended police memorials. I unveiled the memorial stone for PC Keith Palmer here at No10. And I have spoken to police chiefs and police constables up and down the country who have carried out extraordinary acts in the line of duty.

Almost all of them have responded to praise by saying: “I was simply doing my job.”

Indeed – those were the words of those incredibly brave officers who rushed towards London Bridge two years ago as others fled the appalling terror attack.

Their courage and quick-thinking in the face of enormous danger doubtless saved many lives.

So if there is one thing I have learnt in my time in office, it is that doing your job is quite unlike doing any other.

Because it is not many of us that get up in the morning not knowing whether that day will bring regular duties on the beat or a confrontation with a violent criminal.

Not many of us get up not knowing whether someone will come at us with a weapon.

Not many of us get up not knowing whether that day we will have to try and save someone’s life.

But that’s what you face every day as you get up and do your jobs.

And you do so to serve and protect the public – and so today, on behalf of the entire country it is our turn to say thank you.

Today I know that policing isn’t getting any easier.

You face huge challenges and increasingly complex crimes.

New technology is not only changing crime, but the way you fight crime.

And public expectations are rising.

In my time as Home Secretary I tried to make policing more efficient, more accountable and more effective in cutting crime.

Because police reform has always been about much more than simply making savings – it is about making policing work better for you, and for the public.

That’s why we scrapped national targets and put operational control back where it belongs – with the police.

We’ve introduced schemes such as Direct Entry and Police Now, set up the College of Policing to drive up standards and establish an evidence base for what works in cutting crime.

In recognition of the hugely damaging consequences of organised crime across our entire society, I established the National Crime Agency to drive real change in the way we deal with this threat at home and abroad.

Today I know the police face an incredible pressure from knife crime and serious violence. Indeed, many of you here have had to deal with people wielding knives.

No one should have their life taken away or threatened by someone with a knife – and we simply can’t accept a situation where young people are frightened of what they might face on the streets.

So we are backing you in pursuing offenders and taking weapons off the street.

We’ve tightened up the law on offensive weapons, made more money available, and set up a cross government task force dedicated to tackling serious violence.

Because it’s not just about policing, it’s actually about the whole of society – we all need to work together to deal with knife crime and serious violence.

And we recognise as part of that the importance of positive opportunities and alternatives for young people, so we are putting money into our Youth Endowment Fund and Youth Futures Foundation to support groups and projects that can really make a difference.

Only a few days ago I had representatives from some of those projects here in No10, talking about how they’re helping young people to move away from a possible path of violence and crime.

But of none of these reforms would mean anything without you, and your colleagues up and down the country, on the frontline, keeping us safe.

In honouring you – we honour all our police officers.

You demonstrate the true meaning of public service.

You put yourselves on the line, time and time again, for the sake of others.

You are the reason why in this country we have the finest police officers in the world.

And I want to wish everyone here the very best of luck at tonight’s awards.

These awards have firmly established they are a great policing institution – and I want to thank the Police Federation, who are celebrating their centenary this year, for championing the bravery of our police.

And on a personal note, I just want to say this. The Police Bravery Awards were my first ever reception as Prime Minister here at No10 – and today they are also to be my last.

And I can think of no better way to begin and end my time as Prime Minister than by standing among some of the country’s finest and bravest policemen and women.

It has been an honour to host you here today.

Thank you for your incredible service.

Thank you for everything you do, day in and day out, to keep us all safe.

Lebanese Defence Minister Meets UK Counterpart

The visit of Lebanese Minister of Defence Elias Bou Saab reflects the value Britain places on the relationship with Lebanon

Lebanese Minister Elias Bou Saab with UK Secretary of State for Defence Penny Mordaunt

Lebanese Minister Elias Bou Saab with UK Secretary of State for Defence Penny Mordaunt

Lebanese Minister of Defence Elias Bou Saab ended a two-day visit to the United Kingdom. The visit reflects the value Britain places on the relationship with Lebanon and in particular our defence cooperation.

In London, Bou Saab met with Secretary of State for Defence Penny Mordaunt, Minister of State for the Armed Forces Mark Lancaster, and Chief of the Defence Staff General Sir Nick Carter

Speaking after the visit Ambassador Chris Rampling said:

‘I am very pleased to see Minister Elias Bou Saab conclude a successful visit to the United Kingdom. We remain strong and committed partners of the Lebanese army and we look forward to strengthening our military and security relations even further.

Lebanon’s security and stability is in the UK national interest.

The UK remains a steadfast supporter to Lebanon through ongoing social, economic, educational and humanitarian projects, in addition to further support to the Lebanese Armed Forces and other security agencies. The LAF remains the sole legitimate defender of Lebanon.’

Fraud Alert: Revival Tattoo Studio Blackpool

Revival Tattoo Studio

Revival Tattoo Studio

Revival Tattoo Studio, located in Blackpool, Lancashire, has been reported to WireNews for failing to provide goods/services in accordance with their own terms of service and has, therefore, been reported to Blackpool Council Trading Standards.

Anyone who has experienced similar circumstances with this business should contact WireNews or Blackpool Council.

Customers have reported making a deposit and not being informed that if they needed to re-schedule their appointment before the actual appointment date that they would forfeit their deposit.

According to Revival’s T&Cs, published on their website, clients are required to sign acceptance of a full list of conditions, but this is not true.

When pressed for a copy of the signed agreement, by WireNews, Revival Tattoo Studio staff refused to comply.

Advisory: Use extreme caution when doing business with this business.

Revival Tattoo Studio
47a Whitegate Drive
Blackpool FY3 9DG
Lancashire
Tel: 01253 932549
Email: info@revivaltattoos.co.uk

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