Trading systems merger raises competition concerns

News story

The CMA has found that ION’s completed purchase of Broadway Technology raises competition concerns in the supply of electronic trading systems.

Laptop showing financial software

Both companies provide specialist trading systems to financial organisations, such as banks, that allows the trading of foreign exchange (FX) and fixed income securities (FI) such as government bonds.

The Competition and Markets Authority (CMA) has concerns relating to the supply of FI electronic trading systems. Based on evidence from the companies’ own documents and feedback received from their customers, the CMA considers that ION is by far the largest supplier of these systems and Broadway is one of only two significant competitors.

The CMA’s initial Phase 1 investigation has found that the deal could therefore leave customers facing a significantly reduced choice of supplier with the potential for higher prices or more onerous terms and conditions on their services.

Joel Bamford, CMA Senior Director, said:

We’ve examined a wide range of evidence during this investigation, and numerous customers have raised serious concerns. We consider ION to already be the largest provider of these products and they’re buying one of their closest competitors.

We are therefore concerned that this merger could damage competition in a market which is critical to trading activities in the UK, leaving the merging companies’ customers with a worse deal.

ION must now address the CMA’s concerns within 5 working days. If they are unable to do so, the deal will be referred for an in-depth Phase 2 investigation.

For more information, visit the ION Investment Group Limited / Broadway Technology Holdings LLC merger inquiry web page.

For media enquiries, contact the CMA press office on 020 3738 6460 or press@cma.gov.uk

Published 7 July 2020




Free ‘wraparound’ childcare for the armed forces

Service personnel based in Buckinghamshire will be the first to trial the new offer of free ‘wraparound’ childcare as pilots are rolled out in September to coincide with the beginning of the academic year. Following the trials, it is anticipated the offer will be rolled out widely in autumn 2021.

The manifesto commitment of paying for childcare for service families, covering before and after-school during term time for children aged 4 to 11, will ease the burden for service parents who’re often held at readiness to be deployed on operations at short notice.

It is the latest in a series of Ministry of Defence (MOD) measures to continue improving its offering as a modern and inclusive employer, introducing maximum flexibility and support to attract and retain the talent required by modern armed forces, particularly women and single parents, by providing additional support to help them accommodate the unique demands of juggling service commitments with family life.

The MOD recently introduced new flexible working arrangements, expanded offerings to co-habiting couples and extended Help to Buy until the end of 2022, giving our armed forces the chance to get a foot on the housing ladder. This has allowed military personnel to borrow a deposit of up to half of their annual salary, interest free, to contribute towards buying a home, moving house, or building an extension.

The launch of the wraparound childcare pilot comes amidst the nation’s wider return to education, following the disruption of the coronavirus pandemic. Service personnel from all of our armed forces have provided critical support to their colleagues in health and social care, often deployed away from home at short notice. It is due to precisely such disruptions that the MOD is seeking to provide service families with the best possible childcare.

Defence Secretary Ben Wallace said:

Service families are at the very heart of the armed forces community and it is vital that we provide them with the appropriate flexibility and freedom to bring up their children while they serve.

I am determined to make the armed forces a more modern, inclusive and family friendly employer, in order to improve the working environment for retention of all personnel but also to encourage more talented women to pursue long, and fulfilling careers in uniform.

Defence People and Veterans Minister Johnny Mercer said:

I know from first-hand experience that while Service life is hugely rewarding, it isn’t without its challenges when it comes to juggling the demands of family life.

It is only right that those who continue to do extraordinary work on behalf of the country are recognised and rewarded, and I’m pleased we’re continuing to honour our commitment to our hard-working personnel so they receive the right support to care for loved ones.

RAF High Wycombe and RAF Halton in Buckinghamshire will be the first bases to offer the scheme, with service personnel based in Catterick and Plymouth able to access the pilot scheme from January 2021. Personnel at High Wycombe and Halton will be notified shortly on further details of the service and how to sign up and will be engaged throughout the process.




Boost for picturesque landscapes as Suffolk Coast and Heaths Area of Outstanding Natural Beauty extended

The government has today (7 July) confirmed the expansion of the Suffolk Coast and Heaths Area of Outstanding Natural Beauty (SC&H AONB).

The move sees the AONB expand by around 38 square kilometres, taking in a rich tapestry of attractive river valleys, ancient woodland, reed beds, wildlife-rich estuaries, and windswept beaches. The area includes the Stour estuary – one of the most important wildlife estuaries in Europe and of international importance for wildfowl and waders.

The last time an AONB was extended was the nearby Dedham Vale in 1991. The new designation means that a greater area of nationally significant landscape will be managed to conserve and enhance its natural beauty.

The newly designated area will benefit from the AONB’s advice and guidance, as well as the funding which is made available to designated landscapes to deliver their statutory purpose. The area will also benefit from the greater focus on natural beauty in national planning policy to help protect and enhance its precious landscape.

The move will bring significant benefits to the local area, enabling local businesses and tourist sites to promote the area as an AONB and access relevant grants, including for sustainable tourism.

The announcement also marks a significant step in implementing the recommendations of the Landscapes Review – spearheaded by Julian Glover in 2019 – which called on the government to take bold action to make our national significant landscapes greener, more beautiful and open to everyone.

Defra Secretary of State, George Eustice MP, said:

Areas of Outstanding Natural Beauty and National Parks are among the most treasured places in our great English countryside, and this landmark decision demonstrates our commitment to designating even more places for people and wildlife to enjoy.

The Suffolk Coast and Heaths is a landscape rich in history and a source of inspiration to countless artists, writers and musicians, and these extensions are a worthy addition especially during this unprecedented time, when many of us are connecting with nature more than ever before. This milestone marks a significant step towards putting our ambitious 25 Year Environment Plan to leave the environment in a better state than we found it into action.

Natural England, the statutory agency for the natural environment, carried out thorough technical analysis and extensive consultation, before submitting the proposed extensions to government for consideration.

Natural England Chair, Tony Juniper, said:

Areas of Outstanding Natural Beauty represent some of the country’s most valued landscapes, designated to conserve and enhance natural beauty.

We welcome this magnificent milestone and firmly believe in the benefits this extension to the AONB will bring – for the environment, the economy and the many people who will enjoy in perpetuity the stunning landscapes and natural treasures found here.

Landscapes like this, which are designated for their natural beauty, will be a vital part of the new Nature Recovery Network that we are helping to establish. We look forward to working with our many partners in the AONBs and beyond to create more, bigger, better and connected natural areas, where people live, work and visit, as part of a truly green recovery from coronavirus.

Councillor David Wood, Chairman of the Suffolk Coast & Heaths AONB Partnership, said:

We are delighted that this Order has been confirmed. The AONB partnership, made up of public private and third sector organisations, has had an aspiration to bring the benefits of the designation to a wider area for over 20 years.

Locally we have always known that the area identified in the Order was outstanding, and with this news we can be confident that the natural beauty of the area will be conserved and enhanced for future generations.

England’s 34 AONBs, 9 National Parks plus the Broads Authority area represent the country’s finest countryside, spanning from Cornwall to the Lake District, offering a wealth of opportunities for both people and wildlife to benefit from the countryside.

Designated landscapes cover a quarter of England’s land and are home to over 2.3 million people – with more than 66 per cent of us living within half an hour of a National Park or AONB. They also generate more than £20 billion for the rural economy, and support 75,000 jobs.

The Glover Review is one of the key commitments of the government’s 25 Year Environment Plan, which outlines our vision for improving the environment over a generation by connecting people with nature and helping wildlife to thrive.

The newly designated areas included within the SC&H AONB are the Stour Estuary, northern estuary valley slopes at Brantham and the majority of the southern estuary valley slopes and the Freston Brook Valley. It also includes the Samford Valley, a tributary of the Stour Estuary and includes some areas of neighbouring Shotley Peninsula Plateau. For more information about the Suffolk Coast and Heaths AONB, visit this website.

AONBs are designated by Natural England following detailed assessments of natural beauty and the desirability of designation, as well as extensive local and national consultations. They do not come into effect until confirmed by the Secretary of State. For more information on how Natural England designates AONBs visit: Guidance for Assessing Landscapes for Designation as a National Park or Area of Outstanding Natural Beauty (AONB) (Revised, March 2011)

If visiting the countryside, please follow the Countryside Code and do not light fires or use disposable barbecues. Fires can be as devastating to wildlife and habitats as they are to people and property – so be careful with naked flames and cigarettes at any time of the year. If a fire appears to be unattended then report it by calling 999.

The consultation page for the Suffolk Coast and Heaths AONB can be read here.




Commercial fishing and Maritime Safety Week 2020

News story

Inspector of marine accidents and ex-commercial fisherman Sean Friday shares his views on the challenges facing commercial fishing and his journey to the MAIB.

Sean Friday - Inspector of Marine Accidents

To mark this year’s Maritime Safety Week and the launch of the Home and Dry Campaign by the Fishing Industry Safety Group, Sean Friday, an inspector of marine accidents for 8 years, talks candidly about his journey to the MAIB and what can be done to make commercial fishing safer.

Tell us about your career to date and your journey to the MAIB?

Although I had always wanted to go to sea, on my father’s insistence my career began with an engineering apprenticeship as a civilian in the British Army. With this providing a good grounding I went to sea as a deckhand in the fishing industry and progressed to the role of skipper of one the UK’s largest fishing vessels.

In 2006, I decided I needed a new challenge and left the sea for a full-time role with the Royal National Lifeboat Institution (RNLI) delivering safety advice and safety interventions to commercial fishermen.

In 2012, I began as nautical inspector and commercial fishing lead at MAIB and after an intensive two-year training and accreditation period I have investigated many accidents, not just to fishing vessels but also merchant and leisure craft.

What made you want to become an inspector of marine accidents?

In 1986, 3 years before the creation of the MAIB, my father, along with two of his crew, was lost at sea when his trawler capsized. I remember being frustrated by not knowing how, why or if this could happen again to another fishing crew. From this tragedy I became interested in accident investigation and prevention.

How has your background helped your work as an inspector?

My career at sea and personal experience of what drives fishermen and the reasons why they can be less risk averse gives me a valuable insight. This insight combined with the safety delivery work during my time at the RNLI puts me in an ideal position to be able to understand why accidents happen and develop recommendations to prevent a reoccurrence.

Fishing is one of the most dangerous occupations in the UK, what are the main safety challenges the industry is facing?

The industry has many safety challenges, not least the struggle to recruit, train and retain seafarers. The fishing industry is often seen as a place for itinerant workers and as such training and professionalism sometimes take a back seat.

What can be done to make commercial fishing safer?

Aside from all the good work that the MCA are doing to regulate and raise vessel standards, I believe that if the fishing industry is promoted as an exciting career path and deckhands are developed into conscientious, qualified, and professional skippers then better safety will follow and become ingrained.

What more can be done to change behaviour and ensure that PFDs are worn?

The introduction of the ILO Work in Fishing Convention 188 requires that fishermen wear lifejackets and subsequently we are seeing an increase in wear rates. However, there is no ‘quick fix’ and all the organisations involved in the Fishing Industry Safety Group (FISG) are determined to keep working hard to change fishermen’s behaviour and ensure that we don’t continue to lose lives unnecessarily. That’s why it is so important that behaviour change campaigns such as the FISG’s Home and Dry campaign target the fishermen and skippers directly to remind them to be safety aware.

Published 7 July 2020




Travel corridors

It is vitally important that we manage the risk of a second wave of coronavirus and keep the number of cases of COVID-19 in the UK as low as possible. Health protection regulations concerning international travel came into force in all parts of the UK on 8 June 2020. These require people who arrive in the UK from outside the common travel area to self-isolate for 14 days and to complete a passenger locator form. The regulations have helped to reduce the risk of importing cases into the UK.

For arrivals from some countries and territories into England, where the risk of importing COVID-19 is sufficiently low, the government considers that it can now end the self-isolation requirement. Therefore, passengers will not be required to self-isolate when they are returning from travel abroad or arriving as visitors to England from a number of exempt countries and territories. Contact information will still need to be provided on arrival except by people on a small list of exemptions.

The process to date

We have been guided by the science and worked closely with health and policy experts from across government to ensure the steps we are taking will minimise the risk of importing COVID-19 cases, while helping to open our travel and tourism sector.

The Joint Biosecurity Centre, in close consultation with Public Health England and the Chief Medical Officer, has developed an approach to assessing the public health risk associated with inbound travel from specific countries and territories. The categorisation has been informed by an estimate of the proportion of the population that is currently infectious in each country, virus incidence rates, trends in incidence and deaths, transmission status and international epidemic intelligence as well as information on a country’s testing capacity and an assessment of the quality of the data available. Data has been used from official sources in each country and modelling by the London School of Hygiene and Tropical Medicine, as well as from Public Health England and the National Travel Health Network and Centre. Other data sources may be used in the future.

This categorisation has informed the government’s decisions about relaxation of border measures and has allowed us to establish travel corridors through which passengers arriving in England from certain countries and territories will be exempted from the requirement to self-isolate. Those who have visited or transited through any non-exempt country or territory within the 14 days preceding their arrival will be required to self-isolate for the remainder of the 14-day period since they last left such a country or territory. The decision on these exemptions forms part of the first review of the health protection regulations concerning international travel which apply in England. FCO travel advice should always be consulted before booking any travel.

The government is continuing to discuss this approach with the Devolved Administrations who will set out their own approach in time. Passengers travelling from overseas to Scotland, Wales and Northern Ireland from outside the common travel area should ensure they follow the laws and guidance which apply there.

Countries and territories exemption list

From 10 July 2020, unless they have visited or transited through any non-exempt country or territory in the preceding 14 days, passengers arriving from the following countries and territories will not be required to self-isolate on arrival in England:

Andorra, Antigua and Barbuda, Aruba , Australia, Austria, The Bahamas, Barbados, Belgium, Bonaire, St Eustatius and Saba, Croatia, Curaçao, Cyprus, Czech Republic, Denmark, Dominica, Faroe Islands, Fiji, Finland, France, French Polynesia, Germany, Greece, Greenland, Grenada, Guadeloupe, Hong Kong, Hungary, Iceland, Italy, Jamaica, Japan, Liechtenstein, Lithuania, Luxembourg, Macao (Macau), Malta, Mauritius, Monaco, the Netherlands, New Caledonia, New Zealand, Norway, Poland, Reunion, San Marino, Serbia, Seychelles, South Korea, Spain, St Barthélemy, St Kitts and Nevis, St Lucia, St Pierre and Miquelon, Switzerland, Taiwan, Trinidad and Tobago, Turkey, Vatican City State, Vietnam

Ireland is already exempt as part of the common travel area, as are the Channel Islands and the Isle of Man. In addition, we will be exempting the 14 British Overseas Territories. We will keep the conditions in these countries and territories under review. If they worsen we will not hesitate to reintroduce self-isolation requirements.

In addition, the UK government will be making a small number of sector-specific exemptions to the border health measures as a result of the first review. From 7 July 2020, certain transport workers who do not come into contact with passengers in the course of their journey to England will no longer be required to complete the passenger locator form. This will help pilots, seafarers, and Eurostar and Eurotunnel drivers who make regular crossings without coming into contact with passengers. There will also be additional exemptions for certain groups, including elite sportspersons and essential support staff returning to England or participating in certain elite sports events, and individuals coming to England to work on British film and television productions.

Next steps

My Rt Hon Friend, the Secretary of State for Foreign and Commonwealth Affairs and First Secretary of State has announced exemptions to the global advisory against all but essential travel. Travellers should review this advice before making travel plans, and purchase travel insurance.

The government will keep the requirements and exemptions set out in the regulations under review. The next review of the regulations will be by 27 July 2020. For further information, please visit gov.uk/uk-border-control.

I hope this announcement provides good news to the many of us who want to enjoy a holiday abroad this year, visit family and friends overseas or travel to do business and will help protect jobs in the international transport and tourism sectors. The government continues to work closely with international partners around the world to discuss arrangements for travellers arriving from the UK and will continue this engagement ahead of the changes coming into force.