BOEPrism

Risk & Regulation Round-up December 2016 to September 2017

In this blog we go back to our regular round-up of key announcements and developments in UK financial risk and regulation.

We haven’t done this for a while, so this edition covers a longer period than usual – 1st December 2016 to 30th September 2017.

We expect to resume more frequent updates going forward, and sincerely thank our readers for their patience during the gap so far this year. Given the long time period in view, the coverage is deliberately even more summarised and simplified than usual. In particular we pay only scant attention to Brexit.

Brexit contingency planning is well under way at all firms, under the watchful eye of the regulators. But, for the purposes of this blog, Brexit remains, just about, an environmental factor rather than a driver of actual rule changes. So – as before – we focus more on concrete developments that have occurred than on future Brexit-related changes whose detail and timing is not yet certain.

Links to underlying source stories or documents are contained in individual articles in this blog.

*** Note: The articles in this blog do not constitute advice, but please contact Prism-Clarity for further information, including where to get the best advice. ***

Stepped Wall Cloud Sky

Linnets, laughter, learning: #SfEP2017 conference highlights

Last year I was not very organised and managed to arrange a holiday exactly coinciding with #SfEP2016. Never again. This year I got it right. Holiday just before, no real thinking about ‘work’ or the day-to-day anxieties of life, just get on and do it.

And it did not disappoint. It was one of the most useful, enjoyable and professionally run events of my entire working life. I feel I made lifelong professional friends, learned lots, had some assumptions challenged and others reinforced. It was intensive but never grinding, enlightening but familiar, comfortable but new, jokey but serious.

And I got to sing with The Linnets, how rewarding is that?

Here are some of the highlights.

In Business or In Employment? Freelancers and IR35

This blog goes slightly off the beaten track compared to my other finance-related blogs. But IR35, the so-called ‘intermediaries legislation’, is an important topic for freelancers. It doesn’t seem to go away, and influences the way we do business.

The idea is to present this freelancer’s understanding of the contentious HMRC rule.

To illustrate it in practice, I reveal the defences I would put up if, hypothetically, the HMRC were to argue that Prism-Clarity should be within the IR35 net.

Not much of this is original. It borrows heavily from other sources including a helpful account at freelancesupermarket.com. The only truly original material in this blog is the illustrative defence relating to Prism-Clarity.

Please note: this blog does not represent advice. This is a contentious topic. If in any doubt, consult your accountant or a professional Human Resources adviser.

Clear Business English for Financial Services Professionals: Structure, Content and Story

Many people in financial services and other professions would like to be able to write clear business English in their day-to-day working lives.

Especially – but not only – non-native English writers.

English is a complicated language. It’s hard to know how to achieve a balance between being clear and fulfilling the rules.

But it’s possible to rise above the rules, even while paying attention to the ones that matter. Some principles – like consistency – matter more.

Any piece of business writing, however long and whatever the format, has three essential elements: structure, content and story.

Keeping these elements explicitly in mind will help you write more confident, more effective business English.