Update February 2021
The government has laid draft regulations in Parliament which implement the requirement for mandatory independent scrutiny of pre-pack administration sales where connected parties are involved in the purchase. The regulations will come into effect once they have been debated and passed in both Houses of Parliament.
Stricter independent scrutiny on pre-pack sales where connected parties - such as the insolvent company’s existing directors or shareholders - are involved
Improved transparency during pre-pack sales, ensuring the general public and creditors’ interests are protected
Move will increase confidence in the insolvency regime, helping to protect jobs and support the economy
By Sebastian McCarthy2021-02-25T00:00:00+00:00
The historic body has been rocked by a corporate governance crisis that began late last year with reports in
The Sunday Times that four directors were dismissed in November 2019 for raising the alarm about a 2018 BDO financial audit.
Since then, members have raised a wider range of concerns about RICS and last month, it bowed to industry pressure and agreed to undertake two reviews.
The first is being overseen by independent QC Peter Oldham, who will investigate the events that led to the dismissal of the directors and the 2018 BDO financial audit.
The second is far wider in scope and is looking at the “ongoing purpose and relevance of RICS in 2021 and beyond”. As part of the broader review, RICS has promised that “no voices will go unheard” and is seeking feedback from its 133,000 members.
City Moves February 24th: Who is switching jobs in the Square Mile this week?
(Getty Images)
Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured.
This week we see appointments to the British Property Federation ahead of a pinnacle year for the high street. Deloitte has welcomed a fresh lead to the firm’s creative branch which launched in September last year. Meanwhile, CBRE, Aviva Investors and Macrobond Financial strengthen their teams across commercial, sustainability and assets factions.
British Property Federation appoints new chair
Green skills gap could derail net-zero , major UK construction firms tell Government
Representatives from more than a dozen major construction organisations have urged the Government to do more to close the existing green skills gap and to improve the skills pipeline, lest it risk missing its 2050 net-zero target.
The paper warns that the existing skills gap for the sector could widen rather than close in the near-term future, without targeted policy action
The joint call to action has been made by the likes of Morgan Sindall, Mace Group and Tideway, through a new paper published by think-tank the Institute for Public Policy Research (IPPR).
By Jordan Marshall2021-02-23T06:00:00+00:00
John Morgan and Andy Mitchell among those calling for government intervention
The UK may be unable to meet its net zero targets because of construction skills shortages, according to the Institute for Public Policy Research.
Source: Shutterstock
The CLC is working on a green skills plan
A letter signed by leading construction industry figures today has called on chancellor Rishi Sunak to support the sector to get the green skills it needs to play a leading role in the green recovery and the drive to net zero.
The letter, whose signatories include CLC chair Andy Mitchell, Morgan Sindall chief executive John Morgan and Mace boss Mark Reynolds, has warned that the UK’s failing skills system threatens to delay the ability of the UK to deliver a zero-carbon economy.