Redundancy because of COVID-19 - top 10 tips for senior executives negotiating an exit
What if you do not want to return to work yet? If that is the case, you should consider the following:
Conversely, what if you are anxious to get back to work but are not one of the first asked to do so? There is no statutory right to insist on returning to work at the current time, but there are factors you can call upon that may assist.
Either way the reality is that this is a very dynamic area of law at the moment, so be alive to developments. There may be changes you can use to support your position. Ultimately however, safety will be king, and no sensible employer will want to take risks with an employee’s health, particularly if well-articulated and recorded. The risk of liability will mean Employers will want to tread carefully before pressuring an employee to return, or seeking to discipline those who have valid reasons for failing to comply with an instruction to return to work.
This article was first published in efinancialcareers on 20 May 2020, Your legal rights on returning to work during COVID-19 .
In a case that attracted national media coverage and emphasises the crucial importance of regulatory compliance and the highest standards of professional conduct in the financial services sector, the High Court dismissed a breach of contract claim brought by an investment manager.
For the fourth year the FCA has published research on the changing relationship between consumers and cryptoassets. In spite of the pandemic, the strong upward trend in public engagement and media coverage has continued, with the FCA estimating 2.3 million adults now hold cryptoassets.
This week, the Government announced that Covid-19 vaccinations will be made compulsory for care home staff, raising strong emotions on both sides of the argument.
Global financial markets are preparing to transition away from the use of the London Interbank Offered Rate (“LIBOR”) and adopt an appropriate alternative risk free rate (“RFR”) by the end of 2021. What are the reasons for the move away from LIBOR, the progress to date in terms of identifying the Sterling Overnight Index Average (“SONIA”) as the most appropriate alternative rate in the Sterling markets, and the steps still required to be taken to ensure such markets are ready for the phasing out of LIBOR by the end of the year
The breakdown of a relationship is a challenging and stressful time, even when you and your partner are on relatively good terms.
There are a number of support services we recommend to help manage the strain which comes with relationship breakdown and the significant changes to your and your children’s circumstances. People often go first to friends and family and then perhaps to a lawyer, counsellor or financial advisor. Many people do not feel comfortable talking to their employer about their circumstances and in this blog, we explore how it can be important from both a personal as well as family law and employment law perspectives.
At the end of last month, the Competition and Markets Authority (CMA) published a letter written to Danske Bank concerning its breach of the Small and Medium-sized Enterprise (SME) Banking Behavioural Undertakings 2002, following loans it had offered under the ‘Bounce Back Loan Scheme’.
As of 10 January 2021, all cryptoasset firms are required to be registered with the Financial Conduct Authority (FCA) under the Money Laundering Regulations.
As 2020 drew to a close, many people had high hopes for 2021.However, the virulent and unforgiving COVID-19 pandemic has ensured it has not been an easy start to the year for most.
Some senior executives will be looking for a change, others may have fallen victim to one of the rounds of redundancy which have resulted from the pandemic.
FCA focuses on risks associated with unmonitored communications, including the use of unencrypted apps, such as WhatsApp, for sharing potentially sensitive or confidential information when working from home.
On 12 March 2018 the SRA published its warning notice on the use of non-disclosure agreements (NDAs). This was in the wake of the widespread publicity at the time given to NDAs which had been considered too draconian in reach and effect.
According to Diversity UK, in 2018 roughly 13.8% of the UK population was from a minority ethnic background and 40% of the population in London were from the Black, Asian & Minority Ethnic (BAME) background.
The global events of this year including the Black Lives Matter movement, the apparent disproportionate impact on the BAME population of COVID-19 and news that the ethnicity pay gap remains significant, have again brought the issue of lack of racial equality to the fore.
As we near the first anniversary of the extension of the Senior Managers & Certification Regime (SM&CR) to solo-regulated FCA firms, the first round of annual fitness and propriety assessments will be topping the to-do lists of many compliance professionals.
One of the impacts of the Covid-19 pandemic is that national income has fallen dramatically. In response to concerns from homeowners unable to meet their mortgage repayment requirements due to a drop in income, the Treasury and Financial Conduct Authority announced a ‘mortgage payment holiday’. This was the result of banks agreeing to allow mortgage-holders suffering from a drop in income to pause their repayments. A ban on home repossessions was put in place at the same time
There has been much mention in the press in recent times about the amount of allegedly incorrect or fraudulent claims made by employers under the Government’s Coronavirus Job Retention Scheme (“CJRS”) (furlough scheme).
The FCA announced on 5 November that it has banned three individuals from working in the financial services industry for non-financial misconduct.
How should regulated firms respond when issues come to light which call into question the fitness and propriety of a member of staff? In the second part of their series of fitness and propriety blogs, Jill Lorimer and Nick Ralph consider best practice. You can read the first part of the series by clicking here.
The Financial Conduct Authority (“FCA”) has recently provided information to their regulated firms as to good and bad practice relating to, amongst other things, the carrying out of fitness and propriety (“F&P”) assessments.
The Prime Minister’s recent announcement regarding the new restrictions to tackle the COVID-19 pandemic has come as a blow to many businesses, particularly in the hospitality, retail and leisure sectors. The call for office workers who can work effectively from home to do so over the winter (confirmed in revised Guidance) represents a clear shift in the Government’s position from just a few weeks ago, when it was encouraging people to return to the workplace.
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