Westminster Business Forum

This conference discussed next steps for audit reform and corporate governance policy in the UK.

It took place as the Government prepares the draft Audit Reform and Corporate Governance Bill, which aims to launch the new Audit, Reporting and Governance Authority (ARGA) accounting regulator to replace the Financial Reporting Council. The conference brought stakeholders together with policymakers to consider the outlook for the audit market, implications for businesses and key priorities moving forward in the context of upcoming reform.

Delegates considered the scope and remit of ARGA, how to improve transparency in large companies and the accountability of directors, the effects of the updated UK Corporate Governance Code and the QCA Corporate Governance Code (2023) on stakeholders, the definition and role of public interest entities (PIEs), and protection against conflicts of interest. We also expected delegates to assess the new listing rules introduced by the FCA in July 2024 to support a wider range of companies to issue shares in the UK, looking at implications for corporate governance codes and transition arrangements, as well as implications of the new corporate criminal offence of failure to prevent fraud introduced under the Economic Crime and Corporate Transparency Act 2023.

Potential new requirements were considered, with discussion on independent assessment, strengthening risk controls and predictive risk management, and best practice for reporting. Sessions also brought out latest thinking on the handling of whistle-blowing, with data from regulators highlighting concerns over conduct and overall culture within financial services firms.

Further sessions examined key issues for audit reform, with discussion on priorities for ARGA, including minimising the risk of major company collapses, as well as the future for the audit market and supporting the UK’s reputation as an investment destination. We also expected discussion on the growing role of sustainability auditing and implications for the audit market.

Delegates also considered implications for financial reporting and governance of measures in the Budget, as well as the impact of the recently passed Budget Responsibility Act 2024, which aims to ensure that the Government’s major fiscal announcements are subjected to an independent assessment by the OBR.

Sessions also included discussion on latest developments and next steps for use of technology to advance risk management and tackle regulatory arbitrage. Further discussion looked at strengthening audit market resilience, including recommendations made by regulators in their inspections reports, and whether these are being implemented effectively.

We are pleased to have been able to include keynote sessions with: Matilda Curtis, Deputy Director, Audit Reform, DBT; Prof Luca Enriques, Professor, Corporate Law, University of Oxford; Gavin Hayes, Head, Policy and Public Affairs, CIIA; Paul Lee, Head, Stewardship and Sustainable Investment Strategy, Redington; and former Secretariat Member, Brydon Review of the Quality and Effectiveness of Audit; and Prof Peter Pope, Professor Emeritus in Accounting, LSE.

Overall, areas for discussion included:

• policy: assessing the new Government’s approach to corporate governance and scrutiny
• reform:
  
  • establishment of ARGA with expanded powers to investigate and sanction directors - priorities for set-up and operation - implications for audit quality and corporate governance
  • what is needed for the oversight authority to be effective in supporting governing bodies, employers and employees - relationships and collaboration with other institutions
• accountability: enhancing transparency in large companies - extending PIE status to major private companies - balancing regulatory requirements with operational flexibility for smaller entities
• risk and governance:
  
  • strengthening corporate governance frameworks - incorporation of predictive risk management and whistleblowing strategies
  • clarity on roles and responsibilities across the range of corporate entities - improving internal controls
• the audit market: oversight and supporting resilience - strategies to prevent conflicts of interest within audit firms - tackling variation in audit quality across sectors
• scrutiny: potential impact of the Budget Responsibility Act 2024 - priorities for the OBR moving forward - implications for corporate financial planning and forecasting
• reporting: integration of sustainability and wider ESG considerations - alignment of corporate governance with decarbonisation goals - addressing challenges in adapting to digital transformation - the sustainability assurance market
• regulation: FCA and PRA capacity post-inquiry - balancing growth and competitiveness objectives with robust regulatory frameworks - priorities for maintaining UK financial sector attractiveness
• corporate culture: assessing whistleblowing frameworks - improving corporate culture and ethical standards - potential legislative reforms to enhance whistleblower protections

All delegates were able to contribute to the output of the conference, which will be shared with parliamentary, ministerial, departmental and regulatory offices, and more widely. This includes the full proceedings and additional articles submitted by delegates. As well as key stakeholders, those that attended include officials from HM Treasury; HMRC; DfC, NI; DBT; DfE, NI; NAO; DoE, NI; ORR; and The Scottish Government.

This conference discussed next steps for developing and commercialising university spin-outs in the UK.

It was a timely opportunity for stakeholders and policymakers to assess latest thinking and best practice for driving the sector forward. Those attending considered priorities for the Government following the recent publication of the industrial strategy Green Paper Invest 2035 and its commitment to implement recommendations from the Independent review of university spin-outs published in November 2023. Recent evidence shows 44 universities have adopted the recommendation to reduce the amount of equity received from software-related ventures to between 10% to 25%, with stakes of 10% or less in spin-outs with less intensive IP.

Discussion was expected to draw on UKRI’s work on implementing the review, including the benefits of sharing best practice developed from TenU’s USIT guide, with a plan for Research England to publish further information to help enable implementation of these practices. Sessions also examined plans in Invest 2035: The UK’s Modern Industrial Strategy, focusing on supporting the contribution that spin-outs make to the UK economy - with £1.66bn raised in equity funding in 2023 - as well as encouraging more venture capital investment into spin-outs and high-growth firms via pension and investment funds, such as the British Business Bank’s new British Growth Partnership.

With over £20bn of R&D funding, with £6.1bn supporting core research recently announced in the Budget, areas for discussion included strategies to foster collaboration, improve data and share tech transfer function, as well as looking at findings from Research England’s forthcoming one-year stock take.

We are pleased to have been able to include keynote sessions with: Dr Alison Campbell, CEO, Government Office for Technology Transfer; Alice Frost, Director of Knowledge Exchange, Research England; Prof Chas Bountra, Pro-Vice Chancellor, Innovation, University of Oxford; Simon Hepworth, Director, Enterprise, Imperial College London; and Fenella Boyle, SVP, Supply Chain Intelligence, Exiger; and former CEO and Co-Founder, Versed AI.

Delegates considered the way forward for developing spin-outs after creation and the relationship between universities and companies in commercialising their research, as well as examining industry imperatives for sustaining funding through the scale-up stage of development and in the longer-term. They also considered how the UK can increase the geographic spread of successful spin-outs domestically beyond the south east and remain competitive internationally, including approaches for attracting overseas investment.

With the £40m in proof-of-concept funding and improvements to support commercialisation of cutting-edge research announced in the Budget, sessions were expected to consider the Russell Group’s recommendations for the Government, such as piloting and scaling-up the UKRI’s proof of concept spin-out fund, launching a ‘spark fund’ to invest in early-stage university spin-outs, increasing Higher Education Innovation Fund allocations, and promoting the UK’s research-intensive universities internationally.

The agenda also brought out latest thinking on addressing the decline in equity investment in UK spin-outs from the pandemic-related peaks in 2021-2022. The role of university-partner funds in attracting investment will be discussed, alongside government policies such as visa schemes, and their effect on international recruitment and its wider growth agenda.

Overall, areas for discussion included:

• key priorities: progress since the Independent Review - moving policy and HE sector practice forward - growth efficiency in the context of the Government’s wider investment and spending plans 
• spin-out creation: assessing efficiency and establishing a blueprint for licensing deals - approaches to IP - equity shares of 10% or less for spin-outs with limited new IP - support from the founding institution - strategies to accelerate the process, including training universities and prospective founders
• improving knowledge exchange: addressing UKRI’s work to implement a knowledge exchange strategy - the vision for a comprehensive database of UK spin-outs
• investment and scaling-up: addressing the fall in equity investment into spin-outs since pandemic-related peaks in 2021-2022 - the role of angel and venture funding - overcoming barriers academics face when pursuing commercial interests - priorities for attracting international investment - encouraging investment beyond the South East of England
• best practice: standards in the UK and internationally - developing investor-friendly value propositions - assembling strong start-up teams - securing patient capital - spin-out creation in research departments - forging best practice for investor relations and equity stake
• wider government priorities: examining the role of spin-outs in supporting the Government’s growth agenda - considering the impact of wider policies, including visa schemes and their effect on international recruitment - the effect of spin-out creation on the community and upskilling - maximising impact

All delegates were able to contribute to the output of the conference, which will be shared with parliamentary, ministerial, departmental and regulatory offices, and more widely. This includes the full proceedings and additional articles submitted by delegates. As well as key stakeholders, those that attended include officials from DSIT; DESNZ; DBT; DfE, NI; GO-Science; OLS; FCDO; GOTT; IPO; and The Scottish Government.

This conference examined key issues for development of the UK transition finance market, alongside priorities for the new Government around infrastructure and green industrial policy.

It ibrought together stakeholders, policymakers and regulators to assess conclusions from the Transition Finance Market Review (TFMR) and implications for government policy ambitions for raising transition capital, positioning the UK as a world leader in the evolution of green finance, and supporting broader goals for decarbonisation across high-emitting sectors.

Delegates considered priority areas for the Transition Plan Taskforce and its coordination with the TFMR, as well as related policy, including the Government’s plans for a National Wealth Fund and the recently announced Great British Energy Bill, alongside transition finance.

Attendees considered the issues in the broader context of corporate ESG, including implications of the new FCA consultation on disclosure requirements for transition planning in prospectuses, and how to effectively define and implement transition finance strategies that align with Just Transition principles, as well as NAO’s report on the future role of Carbon Capture, Utilisation, and Storage (CCUS).

Further areas for discussion included the future of transition finance regulation, particularly around the development of a UK green taxonomy, the potential for mandatory corporate transition plans, and how plans to decarbonise high-emitting sectors such as the steel industry can be structured and regulated via the strategic use of green industrial policy.

We expected discussion on best practice in transition planning, the role of financial services in supporting these initiatives, and the integration of transition finance into broader ESG frameworks, alongside the progress of existing government strategies and how they can be adapted to meet the challenges and opportunities presented by the evolving market.

We are pleased to have been able to include keynote sessions with: Amy Jenkins, Deputy Director, UK Net Zero Investment and Green Finance, DESNZ; Kim Wilkinson, Head, Sustainable Finance Unit, HM Treasury; Vanessa Havard-Williams, Chair, Transition Finance Market Review; Irem Yerdelen, Lead Member, Sustainable Finance, City of London Corporation; Patrick Arber, Group Head, Government Engagement, Sustainability, Aviva; and Mark Manning, Visiting Senior Fellow, LSE.

Overall, areas for discussion included:

• Transition Finance Market Review:
  
  • key findings and recommendations - assessing financial and market implications - implications for stakeholders - policy ambitions for the UK’s positioning as a global leader
• exploring government priorities:
  
  • the future for the 2023 Green Finance Strategy and policy implementation on transition finance - addressing issues for taxonomy, reporting and transparency
  • investor confidence and options for mitigating risk - the role of transition finance within the broader financial and investment landscape
• key considerations for transition finance regulation:
  
  • coordinating policy and regulation of transition finance with industrial strategy and wider decarbonisation ambitions - priorities for the work of Transition Plan Taskforce
• next steps for UK transition finance policy and market development:
  
  • the future for development, timescales, and the use of mandatory and sector-specific transition plans
  • latest thinking on transition-related abatement of legacy power generation and high-carbon industries, including projects such as CCUS Vision - options for government support and strategic planning
  • transition plans within the TFMR and the wider decarbonisation strategy landscape, including the National Wealth Fund, and aims for a just transition more widely

All delegates were able to contribute to the output of the conference, which will be shared with parliamentary, ministerial, departmental and regulatory offices. This includes the full proceedings and additional articles submitted by delegates. Those that attended include parliamentary pass-holders from House of Commons and officials from Defra; DAERA, NI; DBT; HM Treasury; Department for the Economy, NI; DoF, NI; DESNZ; DfT; CCC; MHCLG; DfC, NI; UKIB; Transport Scotland; CMA; ONS; GLD; DfE; Isle of Man Government; and the Welsh Government.

This conference assessed next steps for the UK’s industrial policy and priorities for supporting both local and national economic growth.

It was an opportunity to discuss key issues at a time of heightened focus on this area of policy in the run up to the General Election.

Delegates examined opportunities to build on the UK’s industrial strengths, increase economic security, and support meeting the domestic net zero target by 2050, following the Business and Trade Committee in the last Parliament launching an inquiry into the Government’s approach to industrial policy.

It also followed the publication of the Labour Party’s, Prosperity through Partnership: Labour’s Industrial Strategy which sets out proposals with emphasis on public ownership and investment in technology and partnerships. It also included proposals to set up a National Investment Bank and Innovate UK Plus and a particular focus on greentech and sustainable technology.

Delegates assessed key issues and priorities for the UK’s industrial strategy moving forward, including in the five growth sectors identified by the current Chancellor of the Exchequer, which include advanced manufacturing, creative industries, digital technology, green industries and life sciences.

Attendees discussed strategic options for supporting the UK’s long-term interests, including priorities for R&D, innovation and investment, and for policy to support UK industrial growth, including strengthening domestic and international partnerships, and developing the skills pipeline.

Responsibilities of devolved administrations and the development and impact of localised strategies were also discussed, including how to best channel continued governmental commitment to the devolution and levelling up agenda.

Keynote speakers who have agreed to take part include: Sir Philip Lowe, Partner, Oxera; Benedict Macon-Cooney, Chief Policy Strategist, Tony Blair Institute for Global Change; Dr Nick O'Donovan, Senior Lecturer, Political Economy and Public Policy, Keele University; and Dr Jeremy Silver, Director, Media Clarity.

Overall, areas for discussion included:

• approaches to industrial policy in the UK: analysing focus industries, such as advanced manufacturing, green industries, life sciences, creative industries and digital technology
• encouraging industry development: fostering innovation and competition - attracting inward investment - support for start-ups and SMEs - regional development - industry partnerships - role of the professional and financial services sectors in driving successful industrial policy
• R&D: industrial research partnerships with universities and key institutions - effective collaborative frameworks to foster innovation and skills development - growing the talent pipeline
• channelling industrial strategy to support key policy goals: economic growth and security - job creation - the transition to net zero - levelling up
• global outreach: looking at opportunities for UK industries to form international industry partnerships and attract foreign investment - learning from international industrial strategy 
• local leadership: assessing the impact of the local devolution agenda - role of local leadership in determining local economic strategies and development

The conference was an opportunity for stakeholders to consider the issues in the presence of key policy officials who attend from the Cabinet Office; CCC; CMA; DBT; DLUHC; UKIB; DSIT; DWP; HM Treasury; DAERA, NI; DfC, NI; Defra; Department for the Economy, NI; DESNZ; DfE; DfT; DHSC; Geospatial Commission; GO-Science; HSE; Isle of Man Government; MMO; The Scottish Government; and the Welsh Government - as well as parliamentary pass-holders from the House of Lords.

The proceedings of the conference will be circulated more widely, to Parliamentarians, ministerial offices, and government and regulatory officials with an interest in the issues being discussed. All delegates will also receive a video recording of the conference.  

This conference focused on the future of public procurement in the UK, following the Procurement Act 2023 coming into law.

It was an opportunity for stakeholders and policymakers to discuss priorities in preparation for the Act’s implementation, including adapting practices to comply with new legislation and considering support that might be required.

Delegates examined its potential impact, looking at emerging issues for businesses and local authorities, including resources to support transition to provisions under the Act, as well as differing interpretations of definitions, and implications of increased flexibility.

The agenda looked at issues surrounding competition, including barriers faced by SMEs and social enterprises in procurement, and opportunities for widening market access through digitisation and streamlining.

Delegates discussed how public procurement and widened participation by potential suppliers can be directed to support national policy priorities, such as levelling up and the transition to net zero, and how this can work in practice.

Further sessions assessed priorities for regulation, and establishing an effective framework for public procurement, including:

• strategies for ensuring best practice requirements for transparency in procurement and contract decisions
• priorities for a potential National Security Unit for Procurement
• the establishment of a new Procurement Review Unit (PRU) to focus on non-compliance

We also expected delegates to examine practicalities of potential secondary legislation provisionally titled Procurement Act 2023 (Online Systems and Notices) Regulations 2024, and priorities for ensuring an effective regulatory framework.

We are pleased to have been able to include keynote sessions with: Lindsay Maguire, Deputy Director, Procurement Reform, Cabinet Office; Richard Brown, Assistant Director, Cartels Enforcement Team, CMA; and Heather Buchanan, Chief Executive Officer, Bankers for Net Zero.

Overall, areas for discussion included:

• implementation of the Act: the new application process - priorities for businesses and local authorities - support - competitive, flexible procedure - emphasising sustainability
• issues: interpreting definitions - effective use of the preparation period - resource concerns - the use of three single procurement procedures - transparency in procurement and contract decisions
• regulation: potential National Security Unit for Procurement and a new Procurement Review Unit - monitoring compliance, best practice and performance - contract debarment investigations
• SMEs: encouraging competition and opening up procurement - reducing barriers - supporting innovative solutions - digitisation and streamlining - increasing transparency and public confidence
• supporting wider policy goals: job creation - enhancing supplier resilience - fostering innovation - supporting economic recovery - levelling up - decarbonisation and transition to net zero

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from CCC; DBT; Defra; Department for Communities, NI; Department for Economy, NI; Department of Finance, NI; DESNZ; DfT; DHSC; DLUHC; DSIT; GCHQ; HM Treasury; HMRC; CMA; Cabinet Office; Home Office; Homes England; IPO; MOD; NAO; NCA; NIAO; Ofcom; The Scottish Government; and the Welsh Government; as well as parliamentary pass-holders from the House of Commons.

This conference looked at next steps for the subsidy control regime and moving the state aid system forward in the UK, following the Subsidy Control Act 2022 coming into effect in January 2023.

It brought stakeholders together with policymakers to examine options for addressing key challenges and concerns for both local and regional authorities, and businesses during implementation of the Act. Areas for discussion included the new application and self-assessment processes and streamlined routes, and provisions placing increased responsibility on businesses to analyse the potential contribution of their plans to policy and public good goals.

Delegates considered the work of the Competition Appeal Tribunal in regulating new subsidy control measures, following the opening of the Subsidy Advice Unit (SAU), looking at recent legal cases such as The Durham Company Limited v Durham County Council.

Those attending assessed further areas for possible improvement to the state aid system in the UK and future priorities, looking at the potential introduction of additional streamlined routes, and approaches to increasing the confidence of local authorities and subsidy recipients. There was also discussion on possible alternative approaches to policy.

The conference was also an opportunity to discuss the role of streamlined routes in contributing to the UK economic growth and wider policy goals, such as the transition to net zero and levelling up ambitions, as well as in supporting local authorities and devolved administrations in meeting the ambitions of their innovation strategies, environmental reform targets, and local and regional development goals.

We are pleased to have been able to include keynote sessions with: Tessa Robins, Deputy Director, Subsidy Control, Department for Business and Trade; Sir Marcus Smith, President, Competition Appeal Tribunal; Rachel Merelie, Senior Director, Office for the Internal Market and Subsidy Advice Unit, Competition and Markets Authority; Professor Suzanne Rab, Barrister, Serle Court Chambers; William Bain, Head of Trade Policy, British Chambers of Commerce; and Robert Shaw, Chief of Staff, Innovate UK.

Overall, areas for discussion included:

• Implementing the Subsidy Control Act 2022: key challenges including addressing concerns over the subsidy self-assessment process, and legal challenges
• Regulation and appeals: examining the role and record of the SAU and Competition Appeal Tribunal, including recent cases
• Supporting subsidy control delivery and an effective state aid process:
  
  • priorities for building a consistent self-assessment process for state aid application
  • reducing barriers to fair and accessible state aid, particularly for small and medium sized enterprises
  • next steps for promoting fair domestic competition, looking at case studies from the past 10 months
• Contributing to wider UK policy goals and the economy:
  
  • assessing the role of streamlined subsidy control routes in promoting growth across different UK regions
  • the impact of streamlined routes in increasing investment in research, development and innovation
  • the role of the new regime in supporting the transition to net zero carbon emissions
  • the potential introduction of new streamlined routes, which can further contribute to the UK’s economy and wider policy goals
• Future priorities and areas for development:
  
  • assessing the potential for the emergence of other areas of subsidy activity
  • ensuring streamlined routes benefit public authorities and are consistent with UK government priorities

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from DLUHC; DBT; CMA; Cabinet Office; Department for the Economy, NI; Department of Finance, NI; Defra; DAERA, NI; DESNZ; DfC, NI; DfE; DfT; DSIT; GLD; HMRC; HM Treasury; IPO; Ofcom; Ofgem; ONS; UKIB; The Scottish Government; and the Welsh Government.

This conference examined priorities for the UK semiconductor industry.

It brought stakeholders together with policymakers to discuss proposals in the UK Government’s National Semiconductor Strategy, which aims to strengthen and grow the UK’s semiconductor sector whilst increasing resilience and security.

Delegates assessed the scale and direction of government investment into the domestic semiconductor sector, with concerns from some that the strategy lacks ambition, as well as looking at priorities for attracting inward investment.

They also examined the strategy’s focus, and implications of its emphasis on research and design rather than manufacturing, alongside discussing how future risks of supply chain disruption across the industry can be mitigated.

There was further discussion on competition and enabling access for start-ups, scale-ups and other new entrants, as well as growing key domestic and international markets for the UK semiconductor industry. Discussion considered opportunities arising from innovation in technology, in areas such as AI and quantum.

Those attending looked at strategic priorities for fostering multilateral cooperation at a governmental and industry level. Areas for discussion included IP and collaborative frameworks, opportunities for work with higher education institutions on research and design, involvement with university spin-outs and start-ups, priorities for encouraging greater skills growth and talent flow across the semiconductor industry, and how the sector can feel the benefits of skills initiatives in the short-term.

Further sessions considered the coordination of UK semiconductor strategy with wider policy, looking at priorities for DSIT’s UK Semiconductor Advisory Panel. We expected discussion on net zero in the context of the energy intensive nature of semiconductor fabrication and use, as well as how to maximise the potential contribution to skills and employment aims, and levelling up ambitions.

We are pleased to have been able to include keynote sessions with: Dr Dave Smith, National Technology Adviser, DSIT; Dr Jalal Bagherli, Chairman, Probe Test Solutions; and Co-Chair, UK Semiconductor Advisory Panel; and Dr Drew Nelson OBE, President and Non-Executive Director, IQE.

Overall, areas for discussion included:

• National Semiconductor Strategy:
  
  • inward investment priorities and levels of government funding - assessing the focus on R&D
  • policy implementation - what is needed for effective delivery - clarity and guidance - achieving core aims
  • mitigating the risk of supply chain disruptions across the industry - establishing a cooperative risk, resilience and manufacturing support strategy
• Building upon UK semiconductor strengths:
  
  • growing the UK’s semiconductor domestic sector with a focus on R&D and driving innovation
  • competition and support for new entrants - growing R&D partnerships in the UK and globally - the place and role of university spin-outs in growing the sector
  • how the sector can use the Government’s post-16 education reforms in apprenticeships, higher technical qualifications and T-levels to increase talent flow and grow skills within the industry
  • keeping pace with sector developments - assisting in the growth of emerging markets such as AI and growth of quantum
• International priorities:
  
  • establishing a more coherent international approach to the semiconductor industry
  • assessing UK semiconductor regulation both nationally and internationally - the potential for an international semiconductor strategy
  • next steps for development of UK international research and commercial relationships
  • addressing the impact of key geopolitical factors on the semiconductor supply chain - key issues for industry
• National policy:
  
  • linking the development of the UK’s semiconductor industry with levelling up in the UK, as well as the Government’s commitment to net zero and decarbonisation

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from CCC; CMA; DBT; Department for the Economy, NI; DESNZ; DfT; DSIT; FCDO; GCHQ; Home Office; IPO; NAO; NCSC; Ofcom; The Scottish Government; UKIB; UKRI; and the Welsh Government, as well as parliamentary pass-holders from the House of Commons.

This conference focused on priorities for innovation finance, and growing investment in business and university R&D in the UK.

It followed publication of the Government’s response in the Autumn Statement to both the Independent Review of University Spin-Out Companies and RDI organisational landscape: an independent review, which accepted that there is a need for long-term reform and sector engagement, and outlined its vision for a RDI organisational landscape that is dynamic, diverse, resilient and investable.

Delegates discussed progress, policy proposals and next steps for growing the availability of investment to support scaling up for innovative UK science and technology companies in sectors such as AI, life sciences, net zero and clean energy, digital, and major infrastructure. They also assessed options for maximising the impact on local and regional growth.

Stakeholders and policymakers examined sources of government funding and how to increase confidence and expected returns for private investors, as well as priorities for widening funding sources and growing foreign investment. They discussed strategies for supporting unicorns and futurecorns, and for strengthening the competitive positioning of the UK in innovation finance.

The agenda brought out latest thinking on key issues following the Government’s Science and Technology Framework, published in March 2023, which aims to enable the UK to become a science and technology superpower by 2030.

Further sessions examined priorities for public investment, including the likely impact of the Government’s recently announced £60m Regional Innovation Fund, which aims to increase support for universities with low levels of R&D investment, as well as the role of investment zones and freeport initiatives in bolstering regional innovation finance.

The agenda also looked at steps to reduce burdens for firms seeking public R&D investment and to further tackle barriers faced by the research system, following the Independent Review of Research Bureaucracy led by Professor Adam Tickell.

We are pleased to have been able to include keynote sessions with: Sam Dickson, Head of Access to Finance, HM Treasury; Lord Holmes, Member, House of Lords Science and Technology Committee; and Vice Chair, APPG on FinTech; Geeta Nathan, Deputy Director of Innovation Ecosystem Strategy, Innovate UK; and Greg Wade, Head of Innovation Policy, Universities UK .

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from DAERA, NI; DBT; Defra; Department for the Economy, NI; DESNZ; DfT; DSIT; FCDO; FSA; GLD; GO-Science; HMRC; HM Treasury; IPO; Isle of Man Government; NAO; UKHSA; UKIB; UKSA; The Scottish Government; and the Welsh Government.

This conference examined priorities for developing the UK listing regime.

It was an opportunity for stakeholders and policymakers to discuss options for attracting a wider range of companies to the UK, simplifying rules, as well as supporting market competition and improving investor choice.

It took place in the context of concerns that UK listings have seen a 40% reduction since 2008 and it followed changes put forward for consultation by the FCA in May 2023, with the regulator having also launched a further consultation on the new regime in advance of the expected publication of its final rules in the spring of 2023.

We also expected discussion on wider factors influencing a company’s decision on where to list, such as taxation and remuneration, as well as concerns that measures being put forward, such as the removal of mandatory shareholder votes, could potentially erode shareholder rights and undermine market standards.

We are pleased to have been able to include keynote sessions with: Clare Cole, Director of Market Oversight, Financial Conduct Authority; and Professor Bobby V. Reddy, Professor of Corporate Law and Governance, University of Cambridge.

Overall, areas for discussion included:

• Reviewing the current UK listing regime and market concerns:
  
  • strategies for making the UK’s listing regime more effective, competitive and easier to understand
  • assessing post-Brexit implications and priorities for tackling the reduction in the number of companies listing in the UK since 2008
  • maximising UK market competitiveness and increasing the attractiveness of the UK for investors
• FCA’s proposals for listing regime reform:
  
  • plans to replace existing standard and premium listing segments with a single category for equity shares in commercial companies
  • the potential removal of eligibility requirements that deter early-stage companies
  • addressing concerns surrounding the potential impact on shareholder rights and market standards
• Investor rights and transparency:
  
  • addressing risks and burdens for investors, and implications of greater importance on due diligence processes
  • assessing the removal of mandatory votes and ensuring shareholder rights remain protected
  • impact of removing mandatory three-year financial checks to allow for listing
• Beyond the rules:
  
  • external factors influencing a company’s choice of where to list, including options for taxation and remuneration
  • approaches to addressing these barriers and broader considerations for IPOs

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from DBT; DfT; DSIT; Department for the Economy, NI; GLD; HMRC; Ofcom; and UKIB.

This conference focused on next steps for improving diversity and inclusion (D&I) within the finance sector.

It was an opportunity for stakeholders and policymakers to discuss their latest thinking and emphasise key priorities, as the Financial Conduct Authority and the Prudential Regulation Authority considers their consultation response on a proposed new regulatory framework.

Delegates examined regulatory proposals for mandatory disclosure of a range of employee characteristics. They assessed practical issues related to privacy, data protection, how information will be utilised, and practicalities of enforcement, as well as alternative approaches to achieving the aim of a more diverse and inclusive financial sector.

Further sessions looked at challenges for firms operating internationally in achieving D&I across different cultural norms and varying international markets, and how they are being addressed.

We also expected discussion on priorities for the sector, government and regulatory bodies in tackling misogyny and sexual misconduct, as the Treasury Committee continues it Sexism in the City inquiry.

The agenda included case studies on effective implementation of diversity across financial firms, including changing organisational practices and culture, benchmarking and measurement, and the impact of AI and wider innovation. Speakers shared experiences in the areas of use of research, support networks, and employee hubs and resources.

We are pleased to have been able to include keynote sessions with: Jenny Baskerville, Head of Inclusion, Diversity and Social Equality, KPMG; and Board Member, Progress Together; Jason Buwanabala, Diversity, Equity and Inclusion Manager, PwC; and Benedicte Perowne, Partner, Osborne Clarke.

Overall, areas for discussion included:

• policy and regulation: FCA/PRS proposals - the Sexism in the City Treasury Committee Inquiry - implications and effectiveness - progress and options for improving D&I in financial services
• data and reporting: examining concerns and potential benefits for collection of data on employee characteristics - data privacy, stewardship and use - governance, transparency and accountability
• best practice: exploring effective strategies for enhancing D&I - examples of successful implementation - organisational practices and culture - benchmarking and measurement
• multinational challenges: tackling challenges faced by financial firms which operate globally - cultural norms and key markets - latest thinking on approaches, solutions and implementation
• innovation: assessing potential impact of AI and tech on D&I - opportunities for tackling key challenges for advancing D&I - tackling possible challenges in areas such as recruitment

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from DBT; Department for the Economy, NI; DfT; DWP; HMRC; HM Treasury; Home Office; NAO; Ofcom; The Scottish Government; and the Welsh Government.

This conference examined next steps for the UK space sector.

It brought together stakeholders and policymakers to assess plans and ambitions outlined in the National Space Strategy in Action policy paper published by DSIT and the MOD.

Delegates analysed implications for key stakeholders and issues for implementation as the UK continues with implementation of the National Space Strategy.

They also examined priorities for skills, investment and supporting further growth and sector development. We expected discussion on providing policy guidance and confidence for industry and investors involved in putting in place both civil and defence-orientated capabilities, as well as competition within the sector, and access for start-ups and new entrants.

Further sessions looked at key areas for research and international collaborative agreements, building upon the UK’s competitive advantages, and advancing UK international positioning in science and exploration, commercial applications, and addressing wider global challenges.

We are pleased to have been able to include keynote sessions with: Samuel Whelan, Senior Advisor, Space Strategy, Department for Science, Innovation and Technology; Craig Brown, Investment Director, UK Space Agency; Elizabeth Quintana, Head of Space and Science, Ofcom; Colin MacLeod, Head of UK Spaceflight Regulation, Civil Aviation Authority; Neil Rae, Head of UK Space, KPMG; Dr Heidi Thiemann, Co-Founder & Director, Space Skills Alliance; Pam Underwood, Director, Office of Spaceports, Federal Aviation Administration; and James Cemmell, Vice President of Government Relations, Inmarsat.

Sessions in the agenda included:

• National Space Strategy in Action: Space Sector Plan implementation - what it means for key stakeholders - government priorities moving forward - key issues for regulation
• Workforce: achieving a skilled and diverse space sector - key roles - education, training and careers guidance - building the talent pipeline - developing a coordinated approach
• Sector growth: scale and application of government investment - attracting private finance and developing investor confidence - support for innovation and collaborative research frameworks
• Collaboration: UK and European space programmes moving forward - next steps for developing research relationships - commercial, higher education and governmental partnerships
• International competitiveness: advancing the UK’s global position - strategies for international leadership - leveraging UK competitive advantages

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from DBT; DESNZ; DfT; DSIT; Dstl; FCDO; GLD; GO-Science; HM Treasury; MOD; NAO; Ofcom; UKSA; and the Welsh Government - as well as parliamentary pass-holders from the House of Lords.

This conference discussed what is needed to enable UK financial and professional services to trade in international markets.

Policymakers and stakeholders discussed what is needed to address barriers for professional services exports and reduce uncertainty for firms.

The agenda looked at:

• enabling the open flow of data across borders, and managing the increasing impact of data localisation
• progress, and the approach to negotiations with key partners to address these issues
• priorities for stakeholders of all scales in the UK financial sector
• frameworks to support the flow of trusted data through FTAs and other international forums
• how the UK’s policy and regulatory landscape can best support a simple and efficient digital trading system, while ensuring privacy and security

We are pleased to have been able to include keynote sessions with Rupert Daniels, Director, Services and Skills, Department for Business and Trade; Professor David Collins, Professor of International Economic Law, City, University of London; Vivienne Artz, Data Strategy & Privacy Policy Advisor, Centre for Information Policy Leadership; Nick Davies, Director, Centre for Digital Trade and Innovation, International Chamber of Commerce; Sally Jones, UK Trade Strategy and Brexit Leader, EY; and Stephen Booth, International Strategy Manager, TheCityUK.

Overall, areas for discussion included:

• priorities: supporting digital trade through FTAs and other agreements and forums - responding to increasing data localisation - achieving data equivalence - reducing uncertainty for firms 
• international landscape: key global developments in digital trade cooperation - what can be learned for the UK 
• tackling barriers: developing and standardising digital processes - building a more accessible digital trading system - support for SMEs 
• infrastructure: priorities for development, resilience and security moving forward - balancing safe and practical standards with the open flow of data 
• regulation: simplifying and streamlining digital trading systems, including regulatory clarity around day-to-day digital operations - priorities for consumer protection and choice
• policy: next steps for supporting digital services in the UK’s international trade agenda

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from DBT; Department for the Economy, NI; Department of Finance, NI; DfE; DfT; DLUHC; DSIT; FCDO; GLD; HMRC; HM Treasury; Home Office; ICO; NAO; Ofcom; UKIB; UKSA; The Scottish Government; and the Welsh Government - as well as parliamentary pass-holders from the House of Lords.

This conference examined next steps for emerging technology regulation in the UK.

The discussion focused on what businesses and investors need from regulation to provide the confidence and certainty to launch and invest in innovative technologies in the UK, looking at how the regulatory framework can be developed to enable the rapid and safe introduction of new technologies.

It was an opportunity for businesses, investors and research bodies, including those involved in pharma and life sciences, AI, finance, marketing, advanced manufacturing and green tech, to examine priorities with policymakers.

It took place in the context of the Government’s UK Science and Technology Framework and The UK’s International Technology Strategy, designed to deliver on ambitions to make the UK an internationally recognised science and technology superpower.

There was discussion on the proposals adopted by the Government from Sir Patrick Vallance’s Pro-innovation Regulation reviews of the digital sector and green industries, and the interim report on life sciences, as well as considerations for the new reviews announced in the Spring Budget, looking at creative industries, advanced manufacturing and the regulator growth duty.

Further sessions assessed how the UK can develop the role of industry and other key stakeholders in the regulatory process, following the announcement of funding for an AI sandbox trial in the Government’s AI regulation: a pro-innovation approach White Paper.

We are pleased to have been able to include keynote sessions with Jim Foudy, Deputy Director, Technology and Innovative Regulation Directorate, Department for Science, Innovation & Technology; Nasrine Fielding, Deputy Director, Economic Regulation and International, Better Regulation Executive, Department for Business and Trade; Chris Carr, Director, Brexit Opportunities Unit; and Dr Salil Gunashekar, Deputy Director, RAND Europe.

Overall, areas for discussion included:

• pro-innovation regulation: developing internationally competitive regulatory frameworks in the UK - enabling growth and investment in cutting edge technologies
• safety and security: pairing effective risk management with the rapid introduction of new technologies - building confidence and trust among the public and investors
• delivering public services: facilitating market access in essential services and infrastructure - embedding innovation in public procurement
• international influence: how the UK can further influence the development of rules and norms internationally - priorities for enabling expansion into new markets for UK businesses

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from the Cabinet Office; CCC; CMA; DAERA, NI; DBT; DECC, ROI; Defra; Department for the Economy, NI; Department of Finance, NI; DESNZ; DfE; DfT; DHSC; DLUHC; DSIT; Dstl; EA; FCA; FCDO; GLD; GO-Science; HMCTS; HMRC; HM Treasury; Home Office; HSE; ICO; IPO; LSB; MCA; MHRA; MOD; MOJ; NAO; NCA; Ofcom; OSR; UKSA; UKSIN; The Scottish Government; and the Welsh Government - as well as parliamentary pass-holders from the House of Lords.

This conference brought together key stakeholders and policymakers to discuss next steps for funding the net zero transition across industries and local areas, and the development of green finance in the UK.

It was an opportunity to examine HM Treasury’s Mobilising Green Investment - 2023 Green Finance Strategy.

Delegates assessed the Government’s plans for public funding and private investment to support creation of the green technologies, products and services that will be needed to achieve climate and nature targets at national and local levels.

They also discussed wider strategy for transitioning the economy to align with net zero policy ambitions, including the goal to make the UK the world’s first net zero-aligned financial centre.

Areas for discussion included:

• priorities for regulation and investment labelling, including the way forward for sustainability disclosure requirements, and the consultation on the green taxonomy expected this autumn
• how to enhance trust and confidence in sustainable investment products, and priorities for widening access to the sustainable capital market
• improving support for SMEs and high-emitting industries through the net zero transition
• how to develop and deliver effective green finance initiatives at a local and regional level, including the interaction between green finance, climate change adaptation, local communities and their economies

We are pleased to have been able to include keynote sessions with Kim Wilkinson, Head, Green Finance Unit, HM Treasury; Heather Buchanan, Chief Executive, Bankers for Net Zero; Alicia Kedzierski, Head of Environmental, Social and Governance Department, Financial Conduct Authority; and Professor Hisham Farag, Professor of Finance and Director of Research, Birmingham Business School; and Founding Director, Sustainable Financial Innovation Research Centre.

Sessions in the agenda included:

• regulation: frameworks for sustainable finance governance - building incentives and capabilities - options for wider sustainability-related measures
• transition finance: Sustainability Disclosure Requirements and the green taxonomy - data and reporting standards - transition plans
• SMEs: developing effective sustainability reporting - tackling barriers to SME action on climate change
• adaptation finance: priorities for building climate resilience - minimising risks to infrastructure and communities
• local-level green finance: connecting smaller projects with finance - creating opportunities for jobs and local growth - aligning net zero and the levelling-up agenda
• policy: steps for enabling green and sustainable finance in the UK

The conference was an opportunity for the stakeholders to consider the issues alongside key policy officials who attended from the CCC; DAERA, NI; DBT; Defra; Department for the Economy, NI; DESNZ; Department of Finance, NI; DfE; DfT; DLUHC; DSIT; DWP; FCDO; Forestry Commission; GLD; HM Treasury; Home Office; Isle of Man Government; MCA; NAO; OEP; Ofwat; ONS; UKEF; UKIB; UKSA; VOA; The Scottish Government; and the Welsh Government.

This conference examined the way forward for managing PFI contracts in the UK.

It came with a typical four-year lead-up time for preparation for contract expiry, and more than 70 contracts set to expire before December 2027 and an additional 90 before 2030.

The conference brought together policymakers and key stakeholders to discuss what is needed to support public sector bodies to effectively manage the expiry of PFI contracts and the transition process, with concerns raised by the Public Accounts Committee surrounding complexity, time and resources involved in the process.

Following the publication of guidance from the Infrastructure Project Authority, delegates looked at priorities and best practice for achieving the smooth handback of contracts, value for money and continuity of services, and the future of procurement and project finance following expiry.

Further sessions examined resourcing challenges, including the necessary skills and expertise, as well as how to address concerns surrounding vague contracts in some cases, the bargaining power of public bodies, and who is included in contract negotiations.

Delegates also looked at addressing concerns surrounding inflationary pressures for public bodies that still have a number of years remaining on their contracts.

We are pleased to have been able to include keynote sessions with: Matthew Vickerstaff, Deputy Chief Executive Officer and Head of Project Finance, Infrastructure and Projects Authority; Simon Reason, Director, National Audit Office; Matthew Rees, Director, National Audit Office; Rosie Pearson, Corporate Director, Local Partnerships; and Jessica Evans, Partner, Burges Salmon.

Overall, sessions in the agenda included:

• managing handback:
  
  • expiry of PFI contracts: best practice and key issues - preparing for and delivering contract expiry - resources and skills - planning for a smooth transition
  • existing PFI contracts: governance challenges - strategic support and guidance - enabling effective asset management moving forward
• ensuring continuity:
  
  • risks to infrastructure and ensuring the continuity of key public services
  • evaluating asset data and performance, coordination on required work, and developing effective system handovers
  • managing PFI assets and services at the end of contracts - the impact of PFI expiry on corporate finance and the commercial lifecycle
• moving forward from PFI:
  
  • developing public service delivery models and local and national procurement processes following PFI expiry
  • creating value for money, improving environmental sustainability, and ensuring fair competition for future contracts
  • private-public collaboration and the future for service delivery

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from the Cabinet Office, DBT; DfT; DLUHC; FCDO; HM Treasury; and The Scottish Government.

This conference brought together key stakeholders to discuss the future for the start-up and scale-up landscape in the UK.

It was a timely opportunity to look at the impact of measures announced in both the Spring Budget and the UK Science and Technology Framework on the start-up and scale-up ecosystem, as well as further steps which need to be taken to meet the Government’s ambition to make the UK the ‘next Silicon Valley’, announced in the 2022 Autumn Statement and reinforced in the vision for ‘Scale-up Britain’ in January 2023.

Delegates examined key priorities for growth and investment in UK start-ups and scale-ups, including overcoming barriers to innovation and strategies for R&D funding, improving access to private capital and trade opportunities, and measures to ensure effective competition and enable market access for innovative new firms.

Speakers also looked at how public procurement can further support the development and growth of SMEs, as well as priorities for improving diversity and gender equality among successful entrepreneurs and start-ups, and next steps for tackling regional inequality in the UK start-up and scale-up ecosystem.

Further sessions discussed the recommendations put forward in the Labour Party’s Start-Up, Scale-Up report, with proposals on investment and reform of the British Business Bank, public procurement, and translating university research into growth.

Overall, areas of discussion in the agenda included:

• funding and investment: next steps for encouraging growth and investment - R&D funding and tax relief - improving access to private investment - improving later stage funding and support for scale-ups
• start-up policy: key considerations for competition policy - ensuring market access for innovative products - wider regulatory reform to enable innovation
• procurement: improving access to government contracts - leveraging public procurement to support SME growth
• diversity and regional inequality: priorities for boosting gender and ethnic equality in the start-up landscape - tackling regional inequalities in the development of successful start-ups

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials from Department for the Economy, NI; DESNZ; DfT; DLUHC; DSIT; HM Treasury; IPO; Ofcom; UKSA; and The Scottish Government.

This conference discussed the way forward for:

• aligning the drive towards decarbonisation with economic growth in the UK, at a national, regional and local levels
• supporting expansion and competitiveness for the UK’s green industries

It was a timely opportunity to examine a raft of significant government policy announcements from March 2023, including Powering Up Britain, the Energy Security Plan, the Net Zero Growth Plan, and Mobilising Green Investment: 2023 Green Finance Strategy.

Key stakeholders and policymakers assessed the potential of these initiatives to help maximise the economic benefits of the net zero transition, and develop the UK’s net zero economy.

They assessed where policy, regulation and further action can better enable growth in key green economy sectors, including:

• priorities for tackling barriers to innovation and investment in green technologies
• next steps for bolstering the UK’s international competitiveness as a hub for net zero innovation

We are pleased to have been able to include keynote sessions with Ryan McLaughlin, Deputy Director, Net Zero Strategy, Department for Energy Security and Net Zero; and Eliot Whittington, Director, CISL Corporate Leading Groups, University of Cambridge.

Delegates also considered incentives and support for business decarbonisation across infrastructure and carbon-intensive industries, as well as the role of the net zero transition in driving local economic growth and its relationship with the levelling-up agenda.

Overall, areas for discussion included:

• net zero strategy: key priorities for maximising the economic benefits of the net zero transition - enabling growth in key sectors - supporting UK competitiveness in green innovation
• decarbonisation: embedding green growth through support for decarbonisation - policy requirements for accelerating and supporting the transition for infrastructure and carbon-intensive industries
• local green growth: next steps for integrating green growth into local and regional economic development - the role of net zero in delivering on the levelling-up agenda

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from the CCC; CMA; DAERA, NI; DBT; Defra; Department for Communities, NI; Department for Infrastructure, NI; Department for the Economy, NI; Department of Finance, NI; DESNZ; DfE; DfT; DLUHC; DSIT; DWP; GLD; HMRC; HM Treasury; HSE; Invest NI; MCA; NAO; OBR; Ofwat; ONS; OSR; VOA; Transport Scotland; UKEF; UKIB; The Scottish Government; and the Welsh Government.

This conference examined the future for conduct and culture regulation in the UK’s financial services.

It was an opportunity for key stakeholders and policymakers to discuss:

• the FCA’s new Consumer Duty, impacting products and services across the sector, coming into force on 31st July
• the PRA and FCA’s newly announced review of the scope and proportionality of the Senior Managers and Certification Regime (SM&CR)
• publication of the FCA’s Business Plan 2023/24, aimed at improving outcomes for consumers and markets

We are pleased to have been able to include keynote sessions with Emily Shepperd, Chief Operating Officer and Executive Director of Authorisations, FCA; Dr Roger Miles, Co-Founder, Culture and Conduct Academy, UK Finance; and Julie Ampadu, Director and Chair, Association of Professional Compliance Consultants; and Co-Chair, Trade Association Cyber Information Group, FCA.

Delegates discussed challenges for compliance such as defining, measuring, and evidencing positive culture, as well as how the regulatory framework, and businesses leadership and practice can be utilised to bring about sustained positive change.

It was an opportunity to assess how the sector can develop stronger risk controls and approaches for enabling better auditing to minimise risks to consumers.

Delegates also considered priorities for the future regulation of non-financial misconduct, including the potential impact of the SM&CR review in areas such as character assessment. They also discussed next steps for addressing workplace misconduct through regulatory action, and how regulators can provide greater clarity in these areas.

Further sessions discussed how the continuing work on the Future Regulatory Framework and proposed Edinburgh Reforms, aimed at boosting the growth and competitiveness of the UK’s finance sector, will impact the regulation of governance and culture.

Overall, areas for discussion included:

• regulation and culture:
  
  • the role of regulation in driving cultural change and priorities moving forward - defining and measuring positive culture - support that may be needed for compliance
  • expanded use of data to inform reporting and customer understanding - priorities for innovation in the ways data informs conduct
  • assessing the impact of the FCA’s new Consumer Duty on the regulation of the finance sector
• behavioural risk:
  
  • strengths and weaknesses of risk management in the sector - building strong predictive risk controls
  • innovation in internal auditing - expanding value criteria - minimising consumer risks - developing capacity for smaller firms
• non-financial misconduct:
  
  • preventative measures for harassment and bullying, and regulator responses - protecting whistle-blowers
  • exploring key areas of company culture where transparency can be developed
  • building inclusive cultures into management structures - assessing the impact of diversity and inclusion on conduct
• the reform landscape:
  
  • the Edinburgh Reforms on governance and conduct regulation post-Brexit, including the upcoming SM&CR review
  • balancing effective conduct regulation with a pro-innovation approach to regulation - culture regulation and the UK’s international competitiveness

The conference was an opportunity for the stakeholders to consider the issues alongside key policy officials who attended from the Department for the Economy, NI; DSIT; FCDO; HMRC; and the NAO - as well as parliamentary pass-holders from The House of Lords.

This conference examined the way forward for payments regulation in the UK.

Bringing together key stakeholders and policymakers, it was an opportunity to discuss:

• the closing of HM Treasury’s window for consultation on the Payment Services Regulations (PSR) review and the future regulatory regime for cryptoassets
• draft legislation on the regulation of Buy Now Pay Later
• publication of the Joint Regulatory Oversight Committee’s (JROC) recommendations for the future of open banking

Delegates considered how the regulatory framework in the UK can keep pace with innovation and enable new market entrants, as well as bolstering the competitiveness of the UK payments sector, while also protecting consumers and safeguarding markets.

We are pleased to have been able to include keynote sessions with Andrew Self, Senior Manager, Payment Systems Regulator; and Riccardo Tordera Ricchi, Head of Policy and Government Relations, The Payments Association.

Overall, sessions in the agenda looked at:

• innovation and growth:
  
  • incorporating new technologies into the regulatory framework - including effective cryptocurrency regulation
  • authorisation requirements and support for smaller firms - priorities for regulatory reform that can enable growth
• Buy Now, Pay Later:
  
  • considerations for the upcoming FCA consultation - smooth transition to FCA authorisation while minimising operational burdens
  • striking a balance in regulation to promote competition, innovation and consumer choice
• open banking:
  
  • strategic considerations for the next stages of development in the UK - priorities for establishing UK leadership and reducing sector uncertainty
  • the structure and purpose of the proposed new implementation body, following the Open Banking Implementation Entity’s final report
• governance and conduct:
  
  • consumer protection measures against insolvency and fraud - enhancing financial resilience within the UK regulatory framework
  • the impact of the Consumer Duty on payments and e-money firms
• policy:
  
  • potential areas of divergence between the UK and EU PSR reform, and their impact on UK firms providing services in the EU
  • next steps for enabling growth and innovation - boosting the international competitiveness of the payments sector

The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from the DCMS; GLD; HMRC; HM Treasury; Home Office; and UKIB.