Touching base with our UK treasury network in the South West

The ACT treasury network (South West England) met in Cirencester in May and I was invited to attend and share what the Policy and Technical team have been working on. It was my first meeting with the group and I found it a highly informative session. There were members from a range of organisations – including US inbound businesses, manufacturing and retailers, with teams as large as 8 and as low as 1! A number of topics were discussed at the meeting and it was great to see members sharing their experiences to help others and offer support with materials

How treasurers have helped insurance and asset management businesses restructure

I was asked recently by PwC to present to an audience of insurers and asset managers on Brexit. To prepare for the talk I reached out across my network and am grateful for comments from RSA, Shroders, Aberdeen Standard, Chubb and Aspen amongst others. Below are key messages. What has the market been working on? There seems to be an acceptance that existing passporting rights for financial services firms will cease once the UK leaves the EU (with or without a deal). As a result, firms have been setting up companies within the EU27 to enable them to continue to

Addressing the UK’s impending exit from the EU

With the 29 March deadline fast approaching, here’s an update of Brexit activities the Policy & Technical team have been involved in. The Q&As undertaken with the CBI and with support from the FCA and other key organisations (such as ICMA) have been updated to reflect the latest position on key issues such as contract continuity, SEPA access and the rules for financial institutions that do not apply to join the UK’s Temporary Permissions Regime. Our ongoing Brexit readiness poll remains open and we request members to continue to update it with their latest position. Over the last few weeks

ISO 20022

The UK payments industry is moving to a global standard commonly referred to as ISO 20022. This standard will create a common language for payments data across the globe. It is hoped that standardised and more data rich payment information will deliver significant long-term benefits to companies, government and citizens. THE CONSULTATION PAPER The Bank of England, PAY.UK and the Payments Systems Regulator (authors) issued a consultation paper in June 2018. The purpose was to look at the impact of introducing a Common UK Credit Message (CCM) that would harmonise messaging across CHAPS, Faster Payments and Bacs based on ISO