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A hub of news on current industry and technical issues, advice and career development support.
The UK Payment Systems Regulator’s (PSR) Payments Strategy Forum has issued a consultation paper on its draft strategy “Being Responsive to User Needs“. This is your opportunity to respond to the proposals and influence UK PSR strategy for the next five years. The strategy review comes at a time of rapid change: recently novel ideas such as Blockchain are becoming reality, digital IDs have become a reality in some Scandinavian countries, and the demands of the UK HMRC Real-Time Information are driving a more integrated approach to the movement of value within the UK. The strategy has been written following
With the summer pause, now is a great time to think about the talent development needs of your team and how to source quality emerging talent to feed your treasury and wider finance teams. The ACT’s Accredited University scheme can help you source quality talent, at whatever stage in the academic cycle your needs arise. Since the finalisation of the ACT’s new qualifications suite we have been evolving our Accredited University relationships to deliver a more effective, more joined up offering for the University, students, employers and the ACT. We are seeing an increasing number of new applications from universities
UK manufacturing whether actual (May output) or indicated (PMI for July) is down. And why not? We are in one of those periods of our history during which we all know our world has changed but we do not know how it has changed. The following months, and perhaps years, will reveal how our departure from the EU will trickle down through the UK economy. Any participant, personal or corporate, and indeed government department, will begin to discover its suppliers’ and customers’ sensitivity to foreign exchange rates, trade treaties, and open borders, and while it is waiting to do so
In July 2016 HM Treasury, the Bank of England, and the FCA published their Implementation Report of the Fair and Effective Markets Review (FEMR) report (see the report here) . FEMR is part of the UK’s response to the 2008 financial crisis and seeks to restore trust in Fixed Income Currency and Commodities (FICC) markets. As customers and counterparties of the banks, corporate treasurers are users of the FICC markets. One of the main recommendations of the FEMR was the establishment of the FICC Market Standards Board (the FMSB). The ACT is engaged with the FMSB. Our Chief Executive Colin Tyler
So these days we use the internet for EVERYTHING from booking a train ticket, shopping or even for some, finding a love match. Specialised systems play vital roles in simplifying work processes. You could say in every way technology has had a significant social and economic impact. Not only that, but, every time something changes or something new is introduced we find ourselves having to master new skills to use operating systems and their updates… The infinity of our ability to adapt and adopt changes is nothing short of amazing. Technology doesn’t just have a role in the workplace, it
What alignment of the sun, moon and stars is causing FinTech Storm to descend on the finance industry? Is this just about bitcoin or the technology behind it – Distributed Consensus Ledger? Is this just happening in the retail finance space and connected with new banks like Atom Bank and Starling Bank? Or can corporate treasurers expect new and relevant services to be offered to them in the areas causing pain (that is real pain, and not ISO20022 payment initiation messaging)? It is a confusing and, one suspects, hyped-up picture but governments and regulator are seriously interested in opening up
The beginning of July, and we’re still waiting for the sun. Wimbledon is here of course, but in the post Brexit vote era it seems everything is under covers. The weather is stuck in a rut and the recent El Niño political fallout after “the vote” seems likely to cloud the remainder of the summer skies. But in all this gloom there are bright spots. Surely? The financial markets functioned effectively. Just as well that the roof has been fixed since the last financial storm. New political leaders will emerge and financial markets will eventually respond, to hopefully, a new sense
As some of you will have noticed – and the rest will now – I have changed (and drastically reduced) my role at the ACT. From July 1st I shall be the Speakers’ Chair, chairing selected ACT events (including the Asia Treasury Leaders’ Forum 2016 and ACT Middle East Annual Summit 2016) and supporting events and programme content development. So, although not a valedictory (plenty of those around at the moment!) I thought I would, with your indulgence, make an observation or two on the state of treasury management and the profession. I was at a business conference the other