Governments responses to the coronavirus COVID-19 pandemic are challenging the underlying economic infrastructure on which individuals and businesses rely. In this new guide we have set out the vital steps businesses should be taking to manage the current situation and their financial position going forwards. Click here to read the full document.
A pan-European guide focussing principally on changes to insolvency laws across Europe in response to the COVID-19 pandemic, including some ancillary material around finance packages which have been made available by government, is live on the website. If you have any feedback or comments please do contact one of the country contacts named or more […]
On 11 March 2020, HM Treasury published the response to its consultation paper on the regulation of pre-paid funeral plans. The consultation had originally been launched in 2018 following concerns about consumer detriment in the pre-paid funeral plan market. Currently, entering into a funeral plan contract as a provider is a regulated activity under the […]
On 24 March 2020, UK Finance announced that the spending limit for contactless card payments will be increased from GBP30 to GBP45 with a national-roll out commencing on 1 April 2020. UK Finance is the trade association for the UK banking and financial services sector. The decision to raise the limit was reached following a […]
On 12th March 2020, the Bank of England (BoE) published a Paper proposing an Open Data Platform to facilitate access to finance for small and medium sized enterprises (SMEs). In June 2019, the BoE had identified certain priority areas – one of which was to help develop an Open Data Platform to boost access to […]
The outbreak of coronavirus COVID-19 represents one of the most significant global public health crises in recent memory and is causing major disruption and unprecedented volatility in markets, economies and businesses. With such great social and economic uncertainty, it is inevitable that existing financial arrangements will be affected and asset-based lenders (ABLs) are not immune […]
The UK’s six largest banking groups, covering 90% of bank transfers, must fully implement Confirmation of Payee (CoP) by 31 March 2020. Current Practice Banks currently use unique identifiers (usually sort code and account number) entered by the payer to identify the receiving account. Whilst the intended payee’s name may be provided, there is currently […]
On 12 March, an Taoiseach, Leo Varadkar TD, announced the closure of schools, childcare facilities, colleges, and State-run cultural institutions, and recommended the cancellation of mass gatherings until 29 March. On 15 March, the Government also recommended the closure of all pubs until the same date and emphasised the need for the continued use of […]