Search: financial focus

Reskilling staff can create cost savings of up to £49,100 per employee compared to recruiting or making a role redundant, according to a report published today by the Financial Services Skills Commission (FSSC) and PwC UK.

Aberdein Considine has appointed Darren Polson as head of mortgage operations. Mr Polson brings almost 20 years’ experience in financial services and has joined the firm from Mortgage Advice Bureau where he was head of training and performance in Scotland. He will work alongside Greig Brown wh

Jan du Plessis, the chairman-designate of the Financial Reporting Council (FRC) has told the Big Four accountancy firms that “the outcome could be much worse for them” if they do not actively participate in the drive to improve the audit industry. Mr du Plessis' warning came as he faced

Unite, the union representing staff at the Financial Conduct Authority (FCA), has launched an indicative ballot of its members for industrial action at the regulator. Yesterday, Unite members began voting in a ballot called by the union as management has refused to negotiate with the workforce on a

Greater competition in retail banking is driving choice and lower prices for consumers and small businesses, despite the financial impact of the pandemic, according to a new review conducted by the Financial Conduct Authority (FCA).

The Payment Systems Regulator (PSR) has imposed fines against Mastercard, allpay, Advanced Payment Solutions, Prepaid Financial Services and Sulion after concluding that the five parties infringed competition law by agreeing not to compete or poach each other’s customers in the prepaid cards m

Stuart Smith, a former senior auditor at KPMG, has been fined £150,000 and banned for three years after admitting to misleading the Financial Reporting Council (FRC). KPMG and Mr Smith admitted their misconduct in relation to the FRC’s Audit Quality Review (AQR) inspection of the audit o

Professional sports affected by the recent Covid-19 crowd limits have been allocated £2.55 million in financial support from the Scottish Government. The funding comes from the £5 million announced for professional sport on 5 January, as part of £375 million in wider business suppo

Jon Holt, the chief executive of KPMG, has admitted that the Big Four firm misled the Financial Reporting Council (FRC) over its audit of collapsed outsourcer Carillion. In a statement released on the first day of a five-week disciplinary tribunal over the behaviour of the firm and six former employ

A court has ruled that a 39-year-old unemployed woman is not entitled to financial support from her retired father. The woman lives in Rome with her mother, who sought €900 per month in alimony from her husband, who separated from her and moved out of the family home in 2013.

Scotland has experienced the highest growth in average household wealth in the last decade at 66%, according to the St James' Place Financial Health Index. This compares to 19% for London and 18% in the North East of England.

Mortgage lenders have announced a voluntary moratorium on possessions from Monday 13 December until Tuesday 4 January 2022. The industry is committed to providing ongoing support to those in financial difficulty as a result of the pandemic, especially those who may be worried about making their mort

Debt collectors are now allowed to reach out to American borrowers on social media and by text message, according to new rules enacted by the Consumer Financial Protection Bureau (CFPB). The change, which was approved by the CFPB last year under the Trump administration, requires creditors to contac

Thirteen business representative groups and industry bodies have jointly written to the Scottish Finance Secretary asking her to introduce a business rates discount for all retail premises for the coming financial year. The retail industry in Scotland employs 230,000 people and traditionally account

Edinburgh-based financial provider Aegon UK has posted a 57% year-on-year increase in its third-quarter operating profit, reaching £44 million. The firm said that the rise was driven by higher fee revenues resulting from "favourable" equity markets, a provision release and decreased expenses.