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Bank of England Future Forum 2017: Let’s Talk About Economics

Today I attended the Bank of England Future Forum event at the magnificent St. George’s Hall in Liverpool, a suitably opulent background for such an important occasion.

In recent years – as I noted in my blog on the Bank’s Writing Week panel ‘What Is Good Writing’ – the Bank has been making strenuous efforts to broaden its approach to engagement and communication with Markets, Economists and News (MEN) intermediaries, with the general public, and with schools and colleges nationwide. This was the latest manifestation of those efforts. All three sectors were well represented at St. George’s Hall.

There is still a long way to go, as every single one of the Bank Governors sitting on the Forum stage acknowledged. But the very existence of such a dialogue – which is what it was – would have been inconceivable a few years ago.

It is representative of the Bank’s serious intentions, driven partly by the demands and opportunities of the digital age, to re-engage with a mistrustful public. And to help lift standards of economic literacy of (and engagement with) non-experts to levels they have probably never approached.

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. ***

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.

BOEPrism

Risk & Regulation Round-up: September to November 2016

A quarterly round-up of key announcements and developments in UK financial risk and regulation: covering 1st September to 30th November 2016.

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

After covering Brexit in some depth in the last round-up, this time we include only a short section on Brexit, simply noting a few key publications and developments relevant to financial services.

Instead in this edition we focus more on routine technical and policy announcements from the EU/EBA, Basel/FSB and UK national regulators; including an important set of banking reform proposals from the European Commission issued on 23rd November.

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