The UK’s markets watchdog has gone cold on the idea of a new ‘duty of care’ safeguard for consumers that would enable fresh compensation claims in the event of future financial services scandals.Last year the Financial Conduct Authority published a discussion paper on introducing a duty or legal obligation on financial services firms to act in their clients’ best interests. This followed scandals such as the mis-selling of payment protection insurance and benchmark-rigging.In a summary of responses published today, the regulator lists ‘legal complexity’ and the ‘cost, delay and stress of litigation for consumers’ among reasons for its decision instead to consider revisions to its existing rules. A statutory duty of care would also imperil ‘regulatory agility’, the FCA adds, ’because if the pace and will of the courts were to determine the interpretation and application of the duty, then the regulatory environment would become less responsive, flexible and adaptable to change’.’Most of those in favour of a statutory duty recognised that the cost, stress and complexity of the litigation process make it unlikely that an actionable duty would result in many consumers being able to take legal action against firms for a breach of that duty,’ the paper adds. FCA: ’regulatory agility’Source: Jonathan Goldberg / Alamy Stock PhotoThe FCA has ruled out asking parliament for changes to primary legislation that would create a statutory duty of care. Instead the watchdog will publish a new discussion paper in the autumn that will consider amending its regulatory principles to ‘strengthen and clarify firms’ duties to consumers’.This will include ‘consideration of the potential merits and unintended consequences of a potential private right of action for Principles breaches’. If, as part of this analysis, the FCA takes the view that there are substantive reasons for supporting a statutory duty, ’we will consider this further’, the watchdog says.
Sharing is caring! Share Tweet Share BusinessLocalNews Sagicor provides assistance to local scouts by: – September 15, 2016 Share 172 Views no discussions Brenton Hilaire, Agency Manager of Sagicor Life Inc presenting the company’s donation to cub scouts before their trip to the Cuboree.ROSEAU, Dominica, September 15th, 2016 – This summer, Dominican Cub Scouts had the opportunity of a lifetime to attend the 14th Annual Caribbean Cuboree, made possible, in part, by a donation from Sagicor Life Inc.The event, hosted in Guyana, brought together more than 800 young cubs between the ages of 7 to 11, from fourteen Caribbean countries. Brenton Hilaire, Agency Manager of Sagicor Life Inc, praised the work of the Dominica National Scout Organisation. “We are proud to assist the National Scout Organisation as it works to provide productive outlets for the young people of Dominica. Sagicor Life Inc has maintained a tradition of supporting youth development and working closely with the communities in which we operate.” Dr. Mallet Marie, Commissioner of the Scout Association of Dominica, commented, “As a scout who has experienced a World Jamboree, I would like to see as many members given the chance to experience these types of regional and international scouting events. I am very happy to assist with providing the youth of Dominica with this opportunity for exposure to different cultures and experiences. It is these experiences that help to mold and prepare them for the future. I am grateful for the kind gesture of Sagicor Life Inc. As an active scout of more than thirty years, I can truly say scouting is a positive way of life and the skills gained are immeasurable.”
The proposed HB, according to Paduano, would be taken-up in the plenary for deliberations for the house approval for the second reading today, Aug. 24. “The Department of Labor and Employment conveyed its support to the proposed bill,” disclosed Paduano. BACOLOD City – A lawmaker here is pushing for the creation of an Overseas Filipino Workers (OFWs) sovereign fund. It states that the earnings of OFWs and former OFWs from their investment in the bonds or other debt or investment instrument that the government shall issue in the implementation of this proposal shall be exempt from income tax and documentary stamp tax. “This would also create jobs by raising government funds for industrial, agricultural and infrastructure projects which may employ former OFWs who lost their jobs abroad due to the pandemic,” Paduano added. He said the measure aims to provide a safe investment opportunity for OFWs and their families so that they will no longer be victimized by fake investment schemes which are actually mere scams. He hopes that under the bull, the country would bring back its Gross Domestic Product and Gross National Product to respective pre-pandemic levels by empowering the government to establish new industries or revive strong cash-generating enterprises. Earlier, Labor secretary Silvestre Bello III said he supports the said bill which is expected to raise funds for government and government assisted projects through the issuance of bonds and other debt instruments for subscription and investment by OFWs, their immediate relatives and other Filipino citizens abroad./PN Rep. Joseph Stephen Paduano ABANG LINGKOD party-list introduced House Bill (HB) No.530. Members of the House Committee on Ways and Means recently approved the measure’s tax provision on first reading.
TagsOpinionAbout the authorEdward StratmannShare the loveHave your say Three key issues Solskjaer must address to clean up Man Utd messby Edward Stratmann10 months agoSend to a friendShare the loveIn the wake of Jose Mourinho’s sacking from Manchester United, the club have chosen to replace him with former hero Ole Gunnar Solskjaer. Stepping into the role of interim manager, the Norwegian has many issues to address in his quest to arrest the side’s fortunes and the negativity surrounding the club. Our columnist looks at three key issues he’ll need to confront…Boost morale and team happinessUnder the stewardship of Mourinho, a man who was never shy in criticising his players in public and letting his opinion fly in a forceful manner, there was no escaping the detrimental impact this had on the squad. Couple this with his pragmatic tactics and the palpable tension surrounding United was rife. On a massive downhill spiral, Man Utd currently find themselves 19 points behind table leading Liverpool as a result, an unacceptable position to be in for a club of United’s quality and stature. With Solskjaer now taking over the reigns, his first challenge will be to return some much needed confidence and positivity into this group. Crucially, he’s shown from his previous posts that he backs his players and shows plenty of belief in his troops. This should unquestionably be a breath of fresh air for a United team who had clearly grown tired of Mourinho’s demoralising style and approach. Sort out PogbaThe strained relationship between Paul Pogba and Mourinho had become a disappointing, ongoing saga, as the duo had been battling it out for the best part of a year. While Mourinho stoked the fire by publicly lambasting him many times and dropping him regularly, the French World Cup winner didn’t cover himself in glory either due to his antics, with his outspoken nature getting himself into hot water and frustrating Mourinho on many occasions. Never really seeming to trust Pogba, Mourinho duly struggled to get the best out of his £89 million star.Having previously stated his admiration of Pogba and worked with him during his time coaching the United reserves, Solskjaer will relish the opportunity to involve the former Juventus whizz. “I would [build the team around him], absolutely no doubt,” he said back in August. “That just shows how far the kid has come. Paul is a fantastic kid so hopefully we can build the team around him and keep him.”It’ll therefore be expected we’ll see the tremendously talented Pogba immediately restored to the starting lineup against Cardiff City this weekend, with the enigmatic midfielder set to be an integral component of the 45-year-old’s plans.Offensive football to returnAs the unrest grew on many fronts, the stifling tactics often implemented by the Portuguese manager were a key bone of contention among many. Judging on Solskjaer’s previous experiences, the new man in charge should bring some bolder, more attackingly geared football to Old Trafford, something that will be music to the United faithful’s ears.Although it’ll take some time for his ideas to bed in, once they’ve been taken on board, Solskjaer will be hoping to get his team playing some progressive and exciting possession football. Previously noting Pep Guardiola and Sir Alex Ferguson as two of his idols and never afraid to give youth a chance, he’ll insist on United building out from the back, pushing the full backs high and using the breathtaking pace and dynamism of the likes of Anthony Martial and Marcus Rashford to stretch defences.All things considered, he’s certainly got a massive task ahead of him to get things back on track to revive the ailing Manchester giants. Possessing an invaluable love and knowledge of the club, a desire to play offensive football and wanting to get his players back enjoying their football, watching him go about his work will be fascinating as he’ll do everything in his power to rejuvenate his beloved United.
TUSCALOOSA, AL – NOVEMBER 29: Alabama fans cheer after the Alabama Crimson Tide defeat the Auburn Tigers at Bryant-Denny Stadium on November 29, 2008 in Tuscaloosa, Alabama. Alabama defeated Auburn 36-0. (Photo by Doug Benc/Getty Images)Last week, the Alabama chapter of Alpha Phi released a recruiting video which included an appearance from Crimson Tide running back Kenyan Drake. Just one week later, the school has pulled the footage and issued an official apology. Why? Well, we’re not really sure.Fox Sports’ Clay Travis was able to obtain the statement, which is a bit vague. The decision comes after a columnist at AL.com wrote a scathing piece on the subject, calling the video “worse for women than Donald Trump.”“This video is not reflective of UA’s expectations for student organizations to be responsible digital citizens. It is important for student organizations to remember what is posted on social media makes a difference, today and tomorrow, on how they are viewed and perceived,” said Deborah Lane, Associate Vice President for University Relations.The school’s decision is causing a great deal of controversy, to say the least. If you haven’t seen the video, it’s been re-posted below. You can form your own opinion on it.
This week, junior midfielder Aisling Coyle was named Big Ten Offensive Player of the Week after scoring five goals in two games against Robert Morris University (Pittsburgh, Pa.) and Indiana University. Coyle leads the Buckeyes’ field hockey team with 14 goals, scoring in 10 of 11 games. Coyle has faced much adversity since her arrival at Ohio State in 2007 from Glasgow, Scotland. “Freshman year was pretty hard because I had to take almost a year (off). I tore my ACL, so I redshirted,” Coyle said. Coyle came back in the spring of 2008, shortly after finding out she had compartment syndrome, a compression of nerves and muscles, commonly in the lower leg. “It was weird not playing (field) hockey for a year,” Coyle said. “I’ve been playing since I was 7 and never missed that much time,” Coyle rebounded from her injuries and earned Second-Team All-Big Ten honors as a redshirt freshman in 2008 and First-Team All-Big Ten honors as a sophomore in 2009. OSU field hockey coach Anne Wilkinson said Coyle’s experience is what makes her a special player. “She has played internationally at a lot of different levels,” Wilkinson said. Another important trait Coyle brings to the team is her leadership skills. This season, Coyle’s teammates voted her team captain for the second year in a row. “She’s really stepping up; she’s a real strong leader for us,” Wilkinson said after the team’s win over Robert Morris. OSU is 9-3 and holds a 1-1 Big Ten record. Coyle said she believes the team can finish strong. “Winning both the regular season and tournament for the Big Ten is not unrealistic for us. Hopefully from there, we can get a good seed in the NCAA Tournament, make a run to the final four and take it one game at a time after that,” Coyle said. The Buckeyes play at home at 3 p.m. Thursday against Miami (Ohio).
Senior guard Aaron Craft floats for a layup during a game against Purdue March 13 at Bankers Life Fieldhouse. OSU won, 63-61.Credit: Shelby Lum / Photo editorOn Pi Day — a day where Ohio State published a video highlighting Aaron Craft’s ability to recite the many digits of the mathematical constant pi — the senior guard received yet another recognition.A testament to his play this season, Craft was named one of six finalists for the 2014 Bob Cousy Award, an honor given to the top point guard in men’s college basketball.According to a press release, the field of six finalists was whittled down from a list of 47 players by the Cousy Award screening committee.Joining Craft, the five other finalists for the award are UCLA sophomore Kyle Anderson, Syracuse freshman Tyler Ennis, Connecticut senior Shabazz Napier, North Carolina sophomore Marcus Paige and Wichita State sophomore Fred VanVleet.“It was a tough process to narrow down the list of already exceptional point guards to only six, but these six men deserve to be fighting for the award and recognized as some of the greatest point guards in college basketball,” said Ken Kaufman, chair of the Bob Cousy Award and former president of the National Association of Basketball Coaches.John L. Doleva, president and CEO of the Basketball Hall of Fame, echoed the sentiments of his colleague, and added that the most difficult decision lies ahead.“The Cousy Award screening committee took on the tough job of choosing from many talented point guards to determine this list of six players who represent the leadership skills that Bob Cousy exhibited,” Doleva said. “Each of these candidates has consistently proven that they are worthy of this prestigious award.”While the screening committee takes plenty of time to select each finalist, Craft said that he doesn’t waste a minute to think about individual accomplishments.“There’s plenty of time to think about that when I’m old and fat and can’t run up and down anymore,” Craft said, regarding his place as a finalist. “The things that are going to be remembered are the things we do as a team. That’s the biggest focus.”Previous winners include many current NBA point guards like former Texas Longhorn D.J. Augustin, former St. Joseph’s Owl Jameer Nelson and the winner of the 2013 Cousy Award, former Michigan Wolverine Trey Burke.According to the release, the winner of the 2014 Cousy Award is scheduled be announced during the Hall of Fame festivities at the 2014 Final Four in Dallas.
Celtic manager Brendan Rodgers says he is pleased with the football gods following his team’s win over Aberdeen in the Scottish League Cup final.Ryan Christie scored the only goal of the encounter at the end of the first half as Celtic edged a narrow 1-0 win over Aberdeen to claim the first silverware of the season.However, Brendan Rodgers refused to be drawn on the prospect of winning the Scottish Premiership this season, saying: “We haven’t even played the second round of games yet in the league. That’s a long, long way away.”But the former Liverpool boss admitted the fact that Christie was the match-winner against the team he spent last season on loan with is ironic.“It’s the footballing gods that we saw today,” said Rodgers, according to The National. Match Preview: Manchester United vs Leicester City Boro Tanchev – September 13, 2019 Old Trafford is the venue for the Premier League encounter between Manchester United and Leicester City, which kicks off at 16:00 (CET) on Saturday.“When I came in he wasn’t ready to play week in, week out. We could see there was a talent there, but you need to have that physicality. You need to have that power as well as the quality. He’s always had the quality. I felt he needed to get some games.”“I’ve got good relations with Derek (Aberdeen manager McInnes). We both looked at it and we both felt he still needed to do more in the big games. But there’s absolutely no doubt he went away and got that physicality in body strength and durability in terms of how we want to play and the intensity.”“He came back in the summer and in the last eight or nine weeks he has shown that. It’s fantastic to see his status grow now and in the big games he’s shown really that he has that quality to play for the biggest teams.”“I’m delighted for him. The football gods, lo and behold he scored against the team he was at for 18 months. It was a wonderful finish, a great run off the ball. The keeper made a good save, but he reacts very well to it and finishes it and it ends up being the winner.”
Having scored four times away at Levante in 2017-18, Ernesto Valverde’s side was defeated 5-4, however, Barca was prepared this season as they didn’t want a repeat of that last Sunday night.Barca thrashed Levante 5-0 with a hat-trick from Lionel Messi and a contribution from Suarez.Lionel Messi bagged three goals for his side and assisted with two goals.“We are happy because last year we played here and conceded five after a whole season without losing,” Valverde said at his post-match press conference via Marca.“That was only a few months ago, they are having a great season and they keep showing that.Mourinho: “Lionel Messi made me a better coach” Andrew Smyth – September 14, 2019 Jose Mourinho believes the experience of going up against Barcelona superstar Lionel Messi at Real Madrid made him a greater coach.“We remembered last year and we managed to put it behind us and leave with a clean sheet.”“They started as we imagined,” he said.“We had to change the setup based on the casualties we had so it was difficult for us and they squeezed us.“They’re able to score and dangerous when they counterattack but we had the fortune of opening the score.”