New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world June 23, 2015 New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators. Read more: Bank bonus clawback extended to 10 years by UK regulators The clawback rules comes amid growing tensions between [...]
Tube strike could lead to more home working disputes: How businesses should plan around disruption June 23, 2015 London is braced for the worst tube disruption in a decade next month if Tube workers and their unions decide to go ahead with planned strike action. For some employers in the City and elsewhere, this could lead to more workplace disputes if employees abuse permission given to work from home. The always-on culture of [...]
Clawback extended to 10 years as UK regulators Prudential Regulation Authority and Financial Conduct Authority mull negative bonuses June 23, 2015 Bonuses could be clawed back for as long as a decade under new rules published by City regulators today. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) confirmed they were pushing ahead with rules for a wider seven-year claw-back period but that an added three years is being considered for senior managers. [...]
City watchdogs expected to curb restrictions on bonus buy-outs June 22, 2015 Regulators will bow to City warnings that new pay rules threaten to undermine the UK’s competitiveness when they unveil proposals to change the way bonuses are treated when bankers quit their jobs to join a rival firm. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) are expected to announce today that they have [...]
How to retain female talent in the workplace: Offering agile working and tailored support is crucial June 22, 2015 Lord Davies’s report, published in March this year, showed that representation of women on FTSE 100 boards has almost doubled in the past four years to 23.5 per cent. The government’s target for 25 per cent of board positions to be held by women by the end of this year is in sight, and there [...]
£9,000 university tuition fees push students toward careers June 21, 2015 A new study out today finds that the first graduates to pay £9,000 per year in university tuition fees are more career-oriented, organised and ambitious than their predecessors. The study, conducted by independent researchers High Fliers Research, was based on face-to-face interviews with more than 18,000 final-year students at leading universities across the country. Researchers [...]
Retailers send George Osborne their budget wish list June 21, 2015 British retailers are calling on the chancellor to eschew the living wage and introduce new measures to boost productivity in next month’s emergency budget. In a new submission to chancellor George Osborne, the British Retail Consortium (BRC) said that it wants the government to “work with the retail industry to ensure that employees are [...]
Britain’s world-leading financial services industry is more than just the City June 21, 2015 Financial services” does not equal “London”. This is my message overseas – but it is equally important to say it on these shores as well. Like all lord mayors, I speak to and for the whole of the UK’s financial and professional services community – of which London is only a part. Our work is [...]
Six CV mistakes that could end up costing you: Including personal details could leave you vulnerable to fraud June 21, 2015 In the fight to distinguish yourself from other job applicants, your CV should be your principal weapon. But with recruiters looking for any reason to bin your application, it is easy to shoot yourself in the foot. Here are some crucial errors to avoid. TOO MUCH PERSONAL INFO It may seem like a formality [...]
Strong jobs report gives George Osborne boost at PMQs June 17, 2015 Chancellor of the exchequer George Osborne took centre stage in the House of Commons yesterday, buoyed by strong new jobs numbers. Standing in for the first time in place of Prime Minister David Cameron at Prime Minister’s Questions (PMQs), Osborne welcomed the support of Tory backbenchers citing the latest labour market statistics and singing [...]