Page 2 - Services Faculty News Today

Following Bank of England and HM Treasury’s consultation on proposals for a retail central bank digital currency, or digital pound, Reuben Wales, ICAEW’s Head of Financial Services, outlines ICAEW’s key recommendations.

Crypto regulation needs to focus on risk mitigation and developing trust in the market to encourage a virtuous cycle of adoption, investment and technological development that generates real value, argues ICAEW’s Polly Tsang.

The government is seeking to review the SMCR as part of its Edinburgh Reforms, but how will potential changes help the government meet its objectives of supercharging the UK’s financial services sector?

Financial Services Faculty Board members Nikesh Pandit and Alessia de Quincey explore financial services regulators’ increasing focus on greenwashing and how they might use existing powers to prevent it.

Businesses are being contacted by their banks about repayment of Bounce Back Loans. If repayments are not affordable, businesses should consider their options and take action. At the end of March this year when the Bounce Back Loan Scheme ended, 1.5m businesses had borrowed £46.5bn under the scheme. Loan numbers are fairly evenly spread across the UK and the average value of loans is also consistent. Average loan values are highest in London, at £33,369, and lowest in Wales a...

Businesses that took out a Bounce Back Loan last Spring are now being contacted by lenders to remind them loan repayments will start soon. ICAEW’s Financial Services Faculty has created a helpsheet to enable businesses and their advisers to understand the options available to them. When the government-backed loan schemes were announced last year, many businesses took out the 100% guaranteed loans to help them manage through the uncertainty that lay ahead, but how businesses ar...