Joy Macknight

In the UK, a major player in the global economy, automation is rapidly changing how we work. From bustling financial centers to high-tech industries, machines are taking on more and more tasks. This article explores how automation impacts the UK's workforce, both in terms of challenges and exciting opportunities.

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🤝 Events and engagement 🕵‍♂️ Our Head of Supervision and Compliance Monitoring, Oliver Hanmer, was at the 19th NextGen Payments & RegTech Forum. He held an interactive session and Q&A on the role of strategic supervision and engagement in supporting UK payments now and for the future. QUBE Events 👨‍💻 Our Head of Strategy, Analysis and Engagement, Dan Moore, led a roundtable organised by the Official Monetary and Financial Institutions Forum – a think tank which focusses on central banking and economic policy. The topic was technology and its impact on payments – providing a great opportunity to discuss innovation in payments. OMFIF 👀 Take a look... 📊 Next month, we plan to publish data on the firms which are most commonly reported as enabling contact between fraudsters and victims. Ahead of publishing, we have written to the relevant firms, setting out the aims of publishing this data, how we collected the data, and future plans for publication. Firms have the opportunity to meet with us or share their comments on our plans to publish this data by 5pm on 4 December 2024. Written comments can be sent to [email protected]. You can read our letter here: https://lnkd.in/eNavVddX 🚨 Exciting job opportunities at the PSR! We’re looking for: -       APP scams policy specialists -       Press office and digital content specialist -       Price regulation policy senior associate -       Payments specialist -       Correspondence handling associate 👉 Apply now and help us make a difference! https://lnkd.in/dEfs_SRQ #hiring #jobsearch #innovation #fraudprevention #supervision #engagement

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Following the Payment Systems Regulator's last-minute consultation on reducing the maximum reimbursement for APP Fraud from £415,000 to £85,000 (without shifting the 7th October implementation date), the FCA has published a new consultation paper (GC24/5) that outlines how firms should adapt to HM Treasury's planned amendment to the Payment Services Regulations 2017, allowing payment service providers (PSPs) to delay payments for up to four working days if APP Fraud is suspected. In this article, John Burns, Senior Advisor in our Payment Services team, explores the circumstances under which PSPs can delay payments and the practical considerations involved in doing so. This marks an important change, particularly given that the new rules lack clear guidelines on when delays should occur. Read more here https://lnkd.in/e4v9AgjJ #Cosegic #Compliance #FCA #Paymentservices #PSR #APPfraud

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Advice Guidance Boundary update! The Financial Conduct Authority will consult on “high-level proposals” for targeted support for pension savers in December It also revealed it would be engaging with small advice firms in 2025, through a series of roundtables across the country, to gauge the willingness and capacity of these firms to offer a simplified advice service. #FCA #financialadvice

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The #faaa makes valid points about #financialadviser numbers and how they should be interpreted. https://lnkd.in/ei6b8ye5

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Firms are feeling the heat since the FCA’s move to a model of being a data-led regulator in 2020. In this article, Bovill Newgate's Paul Cowland explores the questions the FCA has been asking about data and how the regulator has been using its powers. Read Paul’s insights here: https://lnkd.in/dXqcQ78d #FCA #FinancialRegulation #FinancialCompliance

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Digital pension administration in 2024 – where are we at? The Digital Admin whitepaper recently released by Heywood and PASA - Pensions Administration Standards Association CIC explores the state of digital administration in 2024, supported by original research and industry commentary. The findings show that while regulatory compliance remains the top focus, it's overshadowing efforts to improve digital admin - which can make compliance easier and more efficient. Read part one of our series analysing the survey results here: https://lnkd.in/e5D-g3TF

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Are you up to speed with the latest regulatory changes impacting financial promotions and marketing? Our recent blog by Neil Jones Int.Dip (GRC), MICA, Managing Consultant at Delta Capita, delves into the intersection of the new Consumer Duty and existing Fin. Prom regulations, shedding light on what firms need to know to stay compliant and consumer-focused.   Key takeaways include: 👉 Understanding the expectations set by the Consumer Duty, particularly in the areas of consumer understanding and support. 👉 Best practices for managing the Fin. Prom process, from internal testing to external consumer feedback. 👉 The crucial role of well-equipped teams in ensuring compliance and effective communication. 👉 The risks associated with poor Fin. Prom practices, as highlighted by recent FCA interventions and penalties.   Is your firm ready to navigate regulatory changes, optimise marketing strategies and drive positive outcomes for customers?   Read the full blog here: https://lnkd.in/ehgpVvGA #ConsumerDuty #FinProm #RegulatoryCompliance #Reinventing

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📜 The government has introduced to Parliament the new Data Use and Access Bill to “unlock the power of data to grow the economy”. Delivered by the Department for Science, Innovation and Technology, the Bill will support the future of Open Banking and the growth of new Smart Data schemes. Marion King, chair and trustee of Open Banking Limited, said: "The UK has been a world leader in Open Banking, and this legislation will help us retain our position and give our fintechs certainty as to our collective direction of travel." Read the full story ⬇ #openbanking #smartdata #datasharing #openfinance #technology #fintechs #dataeconomy #ukeconomy Peter Kyle Henk Van Hulle https://lnkd.in/eeJrsd26

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Enterprise series: How will US election outcomes effect the UK economy and business landscape? Ripple effects from the impact of a US election are felt globally and will no doubt effect the UK economy and business landscape. What could either outcome mean for your business? Join our webinar to hear our panel of experts analyse the potential changes to key US policies and how these changes might impact UK businesses. #EnterpriseSeries #Webinar #USElection #UKEconomy #Business #MooreKingstonSmith

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The Financial Conduct Authority is “actively considering” whether pensions decumulation should be included within the scope of its advice guidance boundary proposals. #financialadvice #consumerduty #regulation https://lnkd.in/ehY2Hspp

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Here's my latest for Banking Risk and Regulation, a service from the Financial Times for senior professionals working in global financial risk and regulation. Click on the links below for more on the latest episode of Following the Rules ft. PRA CEO Sam Woods on bank capital reforms in the UK, the PRA's new Growth Duty, navigating climate change risks and plenty more besides... #prudentialregulation #followingtherules #podcast #bankcapital #climatechange

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🔍 Consumer Duty Examined: Unpacking the Gains and Gaps. Dive into the latest insights on how the FCA's Consumer Duty reshapes the financial landscape. Discover where firms excel and where improvement is crucial for consumer transparency and fairness. Don't miss out on critical updates as we approach significant regulatory milestones. 🔗https://lnkd.in/eF6ySz_F #ConsumerDuty #FinancialServices #RegulatoryCompliance Rohan Chakraborty, Thistle Initiatives Jennifer Cahill, Cosegic Lorraine Mouat, Thistle Initiatives Financial Conduct Authority

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With the introduction of the Consumer Duty, it’s clear the regulator expects consumer communications to be clear and easy understand. Discover five shortcuts to clearer written communications: https://lnkd.in/eGjs_mMp #DiscoverMagazine #TogetherWeCan

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How can #TradeAssociations communicate value to MP's? Nathan Coyne, Managing Director at Polimapper outlines the key ways in which data can act as a leveller for associations when communicating the value of their sector to MP's. Read here: https://lnkd.in/e3YYmbhC

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