Consultations
FSA: The Financial Services Authority (FSA) has announced that the major UK-headquartered banks have agreed to implement a ‘tough new code for financial reporting disclosure’. The code forms part of proposals, designed to enhance investors’ confidence in financial reporting and to aid their ability to compare and contrast banks’ performance.
The FSA is inviting views (by 30 April 2010)on the application of this code to banks and other credit institutions. In the meantime, the major banks, at the FSA’s request, have agreed to implement the code in their 2009 year end annual reports.
If the banks are unable to sufficiently improve the quality & comparability of their disclosures in their 2009 annual reports, the FSA is also seeking views as to whether the code needs to be supplanted by more detailed disclosure templates.
Press release ~ The code of practice ~ BBA Code for Financial Reporting Disclosure ~ The Turner Review
DH: Direct payments for healthcare have moved a step closer with the launch of a new consultation (closes on 8 January 2010). Personal health budgets are being piloted in primary care trusts until 2012 – direct payments will form part of these. Personal health budgets will hopefully help to create a more personalised NHS, by giving people more choice & control over how money is spent on their care.
The three ways that a personal health budget can work are a:
* notional budget held by a commissioner, such as their doctor or primary care trust
* budget managed on the individual’s behalf by a third party, like a charity or User Trust
* cash payment to an individual and managed by them (a healthcare ‘direct payment’)
Trusts are already able to offer the first two options, which do not involve giving money directly to individuals. The consultation seeks views on the rules for making direct payments, as well as proposals for setting up & evaluating direct payment pilots. The power to make direct payments is in the Health Bill currently before parliament and is expected to receive Royal ascent next month. This consultation will inform the regulations & guidance to make direct payments happen.
Press release ~ Direct payment for health care: a consultation on proposals for regulations & guidance ~ DH: Personal Health Budgets ~ Health Bill
TfL: Transport for London (TfL) has begun a public consultation (closes on 4 December 2009) on proposed improvements to the road layout around Tottenham Hale. The existing one-way system currently has high volumes of traffic and few pedestrian crossings. The proposed scheme will look to reduce the impact of traffic on the local area, while still allowing for potential future traffic growth from local developments.
If the proposals are approved, they would be jointly funded by TfL, Haringey Council and the London Development Agency. TfL would begin construction work on the scheme in autumn 2012.
BIS: The Government has published a consultation (closes on 19 January 2010) document giving the detail of proposed changes in the law on repayment policies imposed by credit & store card providers.
MoJ: The Ministry of Justice has published a consultation (closes on 21 January 2010) on the regulations which will control the new Legal Services Board’s power to enter & search the premises of legal profession regulators under warrant. This consultation asks a range of questions about how that power will be regulated, including what a judge should take into account in deciding whether a warrant is necessary and whether any material should be exempt from search warrants.
The new regulatory framework being introduced in 2010 will see the Legal Services LSB oversee 8 approved regulators of the legal services industry.
Press release ~ Lord Chancellor warrant regulations consultation ~ Legal Services Board ~ Legal Services Act 2007 ~ Legal services reform
DWP: Ministers are calling for businesses & individuals to submit evidence on the default retirement age to feed into the review taking place in 2010. Submissions are requested by 1 February 2010and should be emailed to draevidence@bis.gov.uk and/or posted to DRA Evidence, Department for Business, Innovation and Skills, V497, 1 Victoria Street, London, SW1H 0ET.
SGC: Companies & organisations that cause death through gross breaches of care should face punitive & significant fines, a consultation guideline published by the Sentencing Guidelines Council proposes in a consultation (closes on Tuesday 5 January 2010) – See ‘In the News’ section for more information.
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