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FCA chief exec granted £75,000 bonus

FCA chief executive Andrew Bailey received a £75,000 bonus for 2017/18,the regulator’s account. Part of the bonus has been deferred and will be paid in 2019. The portion of the bonus already received has been donated to the FCA’s staff charities, Richard House and the Alzheimer’s Society. The bonus is a £10,000 increase on Bailey’s performance-related pay […]

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Law Commission proposes major leasehold law reform

The Law Commission has announced new proposals that will allow homeowners to extend or buy their leasehold more easily and more cheaply. ‘Leasehold traps’ have been an on-going issue for some time. Describing the issue of homeowners owning their house for only a limited amount of time (typically between 40 and 99 years) before its […]

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We must prepare for ‘no-deal’ Brexit, says FCA

The FCA has said it is continuing to make contingency plans for all Brexit scenarios, including “no-deal”, as negotiations continue. The government’s latest white paper on Brexit proposed an “equivalance of rules on an outcomes basis” regime for financial services allowing the UK and EU access to each others markets. In a speech by FCA […]