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Financial services

While the usual UK employment laws apply to financial services employers, there are a number of key extra issues for them to deal with.

For example, individuals performing controlled functions must have approved person status, which is obtained by making an application to the Financial Conduct Authority and/or the Prudential Regulation Authority.

XpertHR provides HR information and guidance for employers in financial services.


    • Brexit
    • Europe
    • Financial services

    Brexit deal puts workers’ rights at risk, warns analysis

    by Adam McCulloch 4 Jan 2021
    by Adam McCulloch 4 Jan 2021

    The Brexit deal leaves workers’ rights and environmental protections at serious risk of erosion an analysis has concluded.

    • Bonuses
    • Financial services
    • Legal sector

    Bonuses in the Covid-19 era: pushing the boundaries

    by Ivor Adair 22 Dec 2020
    by Ivor Adair 22 Dec 2020

    Changes to bonuses, as businesses are impacted by the pandemic and Brexit crises, could well lead to tensions and legal cases.

    • Age discrimination
    • Financial services
    • Legal sector

    ‘Use data-driven approaches to reduce unconscious bias’

    by Adam McCulloch 21 Dec 2020
    by Adam McCulloch 21 Dec 2020

    The founder of diversity recruiter Rare has called on the government to replace the current style of unconscious bias training...

    • Coronavirus
    • Financial services
    • Legal sector

    BDO holds on to furlough money despite partner pay-out

    by Jo Faragher 11 Dec 2020
    by Jo Faragher 11 Dec 2020

    BDO, one of the UK’s top accounting firms, will keep its furlough money despite revealing it will pay partners an...

    • Bonuses
    • Financial services
    • Equality, diversity and inclusion

    Black staff at Lloyds paid 16.7% less than white colleagues

    by Ashleigh Webber 11 Dec 2020
    by Ashleigh Webber 11 Dec 2020

    Average pay and bonuses for black employees at Lloyds Banking Group are significantly lower than what their white colleagues receive,...

    • Brexit
    • Financial services
    • Latest News

    Morgan Stanley may move €100bn of assets to Germany

    by Adam McCulloch 10 Dec 2020
    by Adam McCulloch 10 Dec 2020

    Frankfurt continues to gain assets and employees as banks transfer operations fearing no agreement on equivalence in Brexit talks.

    • Brexit
    • Financial services
    • Hospitality

    UK employers least confident in Europe about recruitment prospects

    by Ashleigh Webber 8 Dec 2020
    by Ashleigh Webber 8 Dec 2020

    Employers in the UK are the least confident in Europe about their ability to hire additional workers – but they...

    • Financial services
    • Latest News
    • Flexible working

    Lloyds gives branch staff permanent home working option

    by Ashleigh Webber 4 Dec 2020
    by Ashleigh Webber 4 Dec 2020

    Lloyds Banking Group is seeking volunteers who want to transition from branch roles to permanent home working roles in 2021....

    • Constructive dismissal
    • Bullying and harassment
    • Financial services

    Lloyd’s underwriter loses constructive unfair dismissal case

    by Adam McCulloch 3 Dec 2020
    by Adam McCulloch 3 Dec 2020

    An employee of a Lloyd’s of London underwriter who was bullied at work has won his case for constructive unfair...

    • Bonuses
    • Financial services
    • Compensation

    New Lloyds Bank boss to be paid up to £5.5m

    by Adam McCulloch 1 Dec 2020
    by Adam McCulloch 1 Dec 2020

    Lloyds Banking Group's new boss will be paid up to £5.5m in annual pay and bonuses – about a fifth less than his predecessor.

    • Social mobility
    • Financial services
    • Equality, diversity and inclusion

    Taskforce seeks to improve social mobility in City

    by Ashleigh Webber 24 Nov 2020
    by Ashleigh Webber 24 Nov 2020

    A taskforce that seeks to improve socio-economic diversity at senior levels in financial and professional services firms has been launched,...

    • Social mobility
    • Financial services
    • Legal sector

    Top UK employers for social mobility revealed

    by Ashleigh Webber 11 Nov 2020
    by Ashleigh Webber 11 Nov 2020

    The Top 75 UK employers for social mobility in 2020 have been revealed, with PwC retaining the top spot.
    The...

    • Coronavirus
    • Financial services
    • Latest News

    Sainsbury’s to shed 3,500 jobs

    by Adam McCulloch 5 Nov 2020
    by Adam McCulloch 5 Nov 2020

    Sainsbury’s, John Lewis, Lloyds Bank and Caterpillar has each announced significant further job losses in the past 48 hours.

    • Coronavirus
    • Financial services
    • Latest News

    Lloyds Bank says staff will be working at home until spring at least

    by Adam McCulloch 26 Oct 2020
    by Adam McCulloch 26 Oct 2020

    Lloyds Bank's has told most of its UK employees not to return to the office until at least spring.

    • Brexit
    • Bonuses
    • Coronavirus

    The impact of Covid-19 on senior executives’ contracts

    by Simon Gorham 20 Oct 2020
    by Simon Gorham 20 Oct 2020

    Senior executives' relationship with new employers is changing as they look to safeguard their positions against a background of instability.

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