At the London Stock Exchange today (October 21), 12 Canadian FinTech companies begin an exciting 5-day trade mission across the UK as they look to set-up operations in the UK market. The trade mission marks another successful year so far for the UK FinTech industry, which recorded a record level of investment into the sector in the first half of the year.

The delegation of companies visiting the UK led by the Department for International Trade (DIT), have collectively raised over half a billion dollars in venture capital and are actively looking to expand their operations overseas.

The trade mission will take place from October 21 -25 where businesses will meet industry and government to find support and explore opportunities to invest or set up in the UK.

Ranging from cutting-edge personal finance apps and wealth management solutions powered by AI, to venture financing and digital currency, these companies represent the best of Canada’s FinTech industry. The trade mission will give companies the opportunity to find financing, meet partners and potential investors, as well as find out what is required to set up operations in the UK in hubs such as London and Edinburgh.

In London, companies will meet representatives from major banks including Barclays, HSBC and Santander, as well Founders Factory – a startup incubator. In Edinburgh they will have the opportunity to meet with FinTech Scotland, Scottish Investment Bank and the University of Edinburgh’s Data Lab, among others.

Graham Stuart, Minister for Investment at the Department for International Trade said:

The UK and Canada are natural partners in FinTech, and we are determined to make the UK the easiest and most attractive place for Canadian innovators to open and build their businesses.

Trade missions like this allow us to show the strength and depth of the UK offer and encourage investment, market entry and partnership between UK and Canadian firms.

The UK is a global leader in FinTech, welcomes foreign entrants to its market and, through its dedicated trade department, DIT, will continue to reach out to the world’s most exciting entrepreneurs and show them all that the UK has to offer.

Marking the start of the trade mission, FinTech Connect—the UK’s largest FinTech trade show—announce today that they will be launching the first international spin off of their flagship London event in 2020, selecting Toronto as the first international host location.

The UK FinTech sector contributes GBP £6.6 billion annually to the UK economy, with overall investment in the first 6 months of 2019 reaching new heights with £2.3 billion in funding.

This is the second inward Canadian mission DIT has led for FinTech firms. The previous mission saw six Canadian FinTech companies—Sensibill, Kooltra, Zafin, OutsideIQ, RentMoola and Q4—each set up a UK base, creating 200 new jobs.

Steven Clarke, Founder and Managing Director at FinTech Connect said:

As a fast growth hotbed for financial innovation, Canada is increasingly the target market of choice for banks and fintechs looking to build a presence in North America.

Traditionally centred around its banking oligopoly, this previously insular market has lacked the global collaborations that would see Canada fulfil its potential on the World fintech stage.

To address this, we’re launching FinTech Connect Toronto in 2020 which will bring the global community of financial institutions, VC firms and fintechs we’ve built through our flagship London event to Canada, promoting international trade, commerce and partnerships.

Mark Hallan, Director of Global Investment at Scottish Enterprise, said:

We are delighted to welcome these 12 Canadian companies and showcase Scotland as an innovative, collaborative fintech centre.

Scotland has ambitions to become a top five global fintech centre by 2020. We have an incredibly exciting fintech ecosystem, with more than 100 companies now operating in financial services across our cities and towns.

Attracting overseas fintech firms to Scotland is a priority for Scottish Enterprise and our partners, with ten overseas companies setting up a base here over the past 18 months. These companies have advised us that access to talent, a thriving fintech scene and governmental support have been the reasons for locating in Scotland.

Scotland already has a strong economic partnership with Canada, with around 40 Canadian-owned businesses in Scotland employing more than 3,700 people. We look forward to enhancing that relationship further as part of this fintech delegation.

Damir Hot, Co-founder and CEO at Canalyst said:

Since founding, we’ve been singularly focused on building a solid, long-standing business centered around the needs of our clients.

As we’ve grown to serve many of the world’s most sophisticated money managers, the UK plays an important role in our overall business development strategy. This trade mission provides us with direct, valuable insights on the local business and capital markets landscape that will shape how we build our UK presence.

Companies attending the mission include:

Toronto

Ottawa

Montreal

Calgary

Vancouver

The bridge which weighs 150 tonnes and is 60 metres long will span the A63 and enable pedestrians and cyclists to cross over the busy dual carriageway.

The Highways England project, which is the first phase of the A63 Castle Street scheme road improvement scheme, will shape the future of Hull and connect key sites in the city.

The bridge, which will have a new name when it’s complete, will help link the city’s marina with the southern end of Princes Dock.

Highways England project manager Tom Peckitt said:

It is fantastic that we’ve reached this critical milestone for the project as we prepare to position the bridge into place. Once the bridge is installed at its final location the construction team will still have lots of work to do including installing the ramps and steps, and completing the marina platform and landscaping.

To get the fully assembled bridge to site it will be driven on four mobile platforms out of Myton Street car park, along the A63 then manoeuvred in a sequence of turns into its final position.

I am really pleased we are taking this next important step and it has taken a lot of complex work to reach this stage. I want to thank drivers for their patience whilst we move the bridge.

The bridge – which is covered by a curving steel canopy – will also have sheltered viewing balconies at each end which will give members of the public a space to enjoy the views of the city and waterfront.

As part of the bridge construction there will be new landscaped public areas at both the Princes Quay and marina sides.

Time lapse footage of the bridge being constructed on a nearby site:

Time lapse footage of the bridge being constructed

Laying the foundations for the bridge within the marina:

Laying the foundations for the bridge within the marina

During the installation, the area will be cordoned off to the public with no access until the work has been completed.

A full overnight closure of the A63 will be in place from Myton Gate Roundabout (eastbound and westbound through to Roger Millward Way (westbound) from the evening of Friday 1 November until the morning of Monday 4 November.

The bridge is due to open to the public next spring. It is being part funded with a £4m contribution from the Humber Local Enterprise Partnership’s local growth fund programme, secured through its growth deals with Government and part of the Government’s commitment to the Northern Powerhouse.

More details are available on our website and updates will be provided via Twitter using #a63hullpqbridge.

General enquiries

Members of the public should contact the Highways England customer contact centre on 0300 123 5000.

Media enquiries

Journalists should contact the Highways England press office on 0844 693 1448 and use the menu to speak to the most appropriate press officer.

The Ministry of Justice’s (MOJ) update to the Employment Tribunal confirms to all affected fee paid judicial office holders the MOJ approach to claims for pre 7 April 2000 service. In our most recent update, on 30 August, we confirmed our intention of making interim payments in lieu of pension to eligible retired claimants, for their pre 7 April 2000 service, pending provision of a statutory remedy which is our preferred long-term solution. The work required to make these interim payments is progressing well, with MOJ’s Judicial Claims Teams and our third-party pensions’ administrators working together closely to put in place a robust process. We expect to begin making payments before the end of the calendar year.

Related link

Ministry of Justice statement in fee-paid judicial litigation: August 2019

[unable to retrieve full-text content]A letter from Chancellor Sajid Javid responding to Catherine McKinnell MP on the Withdrawal Agreement the government has negotiated with the EU.

Ofqual has today (21 October 2019) published a consultation on proposed new rules that will strengthen the regulation of Technical Awards listed in Key Stage 4 performance tables. The proposals are intended to enhance the qualifications’ validity and better align our regulation with the Department for Education’s (DfE) performance table requirements.

Qualifications used for accountability purposes, through their use in performance tables, bear significant pressure and our recent research has identified issues that could have an impact on standards. Our proposals aim to address these issues and strengthen our approach to regulating these qualifications, while still allowing for appropriate differences in their design and delivery.

The proposed rules will cover:

• Qualification purpose
• Qualification design
• Assessment design and delivery
• Grading
• Standard setting

Sally Collier, Chief Regulator, said:

These proposals demonstrate our commitment to regulate vocational and technical qualifications with the same seriousness and focus as we do general qualifications. We have worked closely with the Department for Education to strengthen our regulation in respect of these important performance table qualifications, while ensuring an appropriate degree of flexibility in their design. As a result, users of these qualifications can continue to be assured that they are a reliable and valid assessment of the knowledge and skills acquired by students.

• A submission window will open in 2020 for awarding organisations to put forward qualifications for review
• This will be for qualifications delivered in schools and colleges from September 2021, and awarded in summer 2023. DfE has confirmed that it intends to lift the current moratorium on adding new qualifications to the Key Stage 4 performance tables from 2023, subject to the outcome of Ofqual’s consultation
• Submissions will be reviewed by Ofqual and the DfE against respective requirements – the proposed new rules (Ofqual) and Technical Guidance for Key Stage 4 Performance Table qualifications (DfE)
• Ofqual will provide advice to the DfE on the validity of each qualification submitted
• DfE will make a final decision about which of the qualifications submitted will be listed in the 2023 Key Stage 4 performance tables
• Qualifications accepted for inclusion in the performance tables will then be regulated by Ofqual on an ongoing basis against the Qualification Level Conditions proposed in this consultation

The consultation is open until Monday 2 December 2019.

Published 21 October 2019