OFT: The OFT has launched a call for information to explore the extent to which businesses are monitoring online shoppers and using the data to target them with personalised prices, and whether any action is necessary under the OFT's powers.
The OFT will consider business & technological developments in the online shopping market, consumers' understanding of how their information is used and whether they are being treated unfairly in law as a result of any firms using this practice. The OFT will be gathering information over the next 6 months and would like to hear from interested parties. It will publish its findings in Spring 2013.
FRC: Following consultation in May, the Financial Reporting Council has published a draft revision to actuarial standard TM1. If, following consultation, these proposals are adopted the FRC will review their implementation carefully to ensure providers are making justifiable assumptions. The closing date for responses to the consultation is 12 December 2012 .
DWP: A consultation has been launched by the Government, to call for a better measurement of child poverty that reflects the reality in the UK. The current measures focus on a family’s income and now the Government wants to look at how a wider measurement can be developed, to tackle the root causes of poverty including worklessness, educational failure and family breakdown.
The previous Government’s target to halve child poverty by 2010 was not achieved. And whilst the relative child poverty numbers fell in the last year, children were no better off in real terms as this decrease was due to a lowering of the median income level. Consultation closes on 15 February 2013.