SFE Member Update | July

The award season is soon approaching - the time of the year where different sectors in the business community take a step back to reflect on the past 12 months, to celebrate the progress that has been made and people that have made a difference.
 
Though I’ve attended many award ceremonies over the years, including the Financial Services Awards, this will be my first as Chief Executive of SFE and I am excited to make sure it’s one to remember. We are already hard at work, along with our event sponsors EY, to make sure we live up to the challenge.
 
We have made the decision not to run a full-scale ceremony and dinner this year due to the on-going covid-19 situation. Instead we will opt for a hybrid event, with around 400 in-person guests and a live stream which audiences will be able to watch from home.
 
While we are disappointed not to be able to welcome all members along in traditional pre-covid style, we believe this is the safest option available and we are determined to make it a special night, reflective of the unique times we live in.
 
The past 12 months have transformed our sector – along with the rest of society - at a truly unprecedented scale. There is much for us to reflect on and, indeed, to celebrate, and I hope that you will join us to do exactly that.
 
To find out more about the individual awards, including how to send in your nominations, click here. We hope to receive as many nominations as possible, so please get involved. It’s a great way to help your organisations and colleagues gain recognition for the thing things they’ve done to make a difference over the past year.
 
The awards are part of a busy schedule for SFE over the coming months. We have started planning our pre-COP26 summit, which we hope will generate significant attention and facilitate key discussions and outcomes on our proposals for Scotland to become a green finance hub.
 
We are also in discussion with a number of key political and industry figures and are anticipating a considerable amount of ministerial exposure. We hope to confirm a number of high profile events and activities in the coming weeks, so please stay tuned into our social channels to keep up to date and be assured you don’t miss out.
 
Kind regards
Sandy Begbie CBE
 
 
Government engagement

  • Sandy met with Liz Smith MSP, Dean Lockhart MSP and Murdo Fraser MSP from the Scottish Conservative Party on 2 July to discuss current business environment, financial services sector outlook, and the financial services strategy and next steps.
  • Sandy attended an Industry and Ministers Roundtable Meeting on Labour Shortages on 8 July
  • Sandy met with officials from HM Treasury on 15 July to discuss the UK financial services strategy and areas of alignment with our own strategy
  • Sandy had an introduction with Ian Murray MP from the Labour Party on 21 July to discuss steps to take forward the relationship with both Scottish Labour and the party at Westminster
  • Sandy attended a Roundtable with the Chancellor of the Exchequer, Rishi Sunak MP on 27 July which covered financial services in Scotland’s role in economic recovery and the transition to net zero
  • Sandy continues to attend weekly meetings with Scottish Government and business trade bodies. If you have anything you would like Sandy to raise on these calls please get in touch with him direct or contact our new Director of Public Policy & Communications, Sandy Macdonald, smacdonald@sfe.org.uk

 
SFE events in July – watch on demand

  • On 13 July On 13 July, Stephen Pegge, Managing Director at UK Finance joined us for a session on recapitalisation, giving us his insights on the latest data. Watch here.
  • On 22 July we partnered with SFRA for an event on cryptocurrency with Tom Mutton, Director of Fintech at the Bank of England. Watch here.  
  • On 27 July we partnered with Fujistu UK to discuss what hybrid working means for wellbeing in the financial services sector with an interactive panel of industry leaders. This will be available via Fujitsu’s Youtube page shortly.

 
SFE event with the FCA
The Financial Conduct Authority has launched their 2021/2022 business plan, outlining what stakeholders can expect the regulator to be focusing on in the year ahead. On 25 August we’ll be joined by Maggie Craig, Head of the FCA's Scotland office, who will provide her insight into the regulator's forthcoming work programme which focuses on net zero, post-Brexit financial regulatory framework, data and jobs. Invites will be sent to members shortly.
 
SFE in the media
Sandy wrote in The Herald on 2 July about the importance of creating good opportunities for young people and laying out SFE and the financial services sector in Scotland’s plan to lead by example.
 
On 18 July Sandy wrote in The Press & Journal about the benefits to be gained from Scotland's two largest sectors, energy and financial services, working together on the transition from fossil fuels towards green alternatives.
 
Joint statement  on vaccination programme
SFE and other business groups put out a joint statement with Cabinet Secretary for Finance and the Economy, Kate Forbes, encouraging any colleagues that have not yet been vaccinated against covid-19 to take the opportunity now. Read the statement in full here.
 
SFE becomes Living Wage employer
SFE became an accredited living wage employer this month. Commenting on the accreditation, SFE Director of Public Policy & Communications Sandy Macdonald said: “The financial services sector in Scotland is committed to affecting positive change and we have set out a range of proposals in our recently launched strategy to achieve this, which include investing in our people and supporting them to thrive.” Find out how your organisation can commit to the living wage here.
 
FSSC inclusion measurement guide
The Financial Services Skills Commission has launched an inclusion measurement guide to help UK financial services organisations improve and develop inclusion data metrics and analysis. You can access the guide here.
 
ABI net zero roadmap
The Association of British Insurers has launched its Climate Change roadmap, emphasising the key role the insurance & long-term savings industry will play in contributing to the UK's net zero emissions targets. Find out more about the roadmap here.
 
Climate related financial disclosure
The Climate Disclosure Standards Boards have produced an introduction to climate-related financial disclosure document, which may be useful for members seeking to appropriately assess and price climate-related risks and opportunities. You can access the document here.
 
SFE insight
Our latest insight blog was a Q&A with Ian Bradbury, Chief Technology Officer for Financial Services at Fujitsu UK about hybrid working, digital transformation and its impact on wellbeing, skills and culture in the sector.  Read the blog in full here.