16 Nov 2018

Friday Focus - Tim’s Brexit update

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It has been a rather busy week on the Brexit front, so much so that our Director General Tim Hames wrote not one, but two Insights, the latest of which was published yesterday following the resignation of the Brexit Secretary Dominic Raab and others. We are holding our annual Technical, Legal & Regulatory Conference on 27 November and anyone interested in how our industry might operate post-Brexit and who has yet to book a place might want to do so immediately. And if Tim’s political analysis isn’t enough, you can hear from the BBC’s Political Editor Laura Kuenssberg who is the guest speaker at our Annual Gala Dinner on 29 November.


PRIIPs regulation review

The European Supervisory Authorities (ESMA, the EBA and EIOPA) have begun a public consultation on some of the well-publicised problems with the EU’s PRIIPs regime, which obliges firms to provide a three-page key information document (KID) to retail investors they market fund interests to. The consultation is narrow in scope, focusing mainly on performance scenarios and the interaction of PRIIPs rules with the UCITS regime. A full review has been postponed and should now happen in 2019. The BVCA responded to a broader FCA consultation on PRIIPs in September, and is now working with Invest Europe on an industry response to the ESAs’ consultation (due 7 December).


Scaleup Index 2018

The number of visible scale-ups in the UK has grown to 4,420, an increase of 15% since 2017 according to research from the Scaleup Institute and Beauhurst. Of these, the report identified 687 companies using equity financing, which were found to be more likely to demonstrate high turnover growth rates. Additionally, companies within the 10 to 15 year age bracket were most likely to be growing at the fastest yearly rates of at over 80%. The majority of scale-ups are outside the tech sector, and include professional services, industrials and leisure & entertainment. Four in 10 companies have a female board member, but only 4% have a female founder. Read the full report here.


Private Equity Survey 2019

S&P Global have launched their second annual private equity survey, asking for your perspectives on the state of the private equity market for the year ahead. The 5-minute survey asks what you anticipate being the biggest challenges and opportunities within private equity and venture capital, and what strategies and sectors you expect to focus on in 2019. All answers will be kept anonymous and the results will be published in S&P Global’s Q1 Private Equity Market Snapshot Report. Complete the survey here.


Tackling the gender pay gap

This week the BVCA attended the launch of the The Fair Pay Report from think tank IPPR. The report acknowledges that good progress has been made in addressing the gender pay gap within large companies and recommends expanding reporting requirements to medium-sized organisations. We also participated in a conference on The Future of Work and Inequality organised by the APPG on Inclusive Growth, and The Parliamentary Network on the World Bank & IMF. The discussion included the challenges and opportunities for tomorrow's labour market and the priorities for a new social contract for the 21st century. For more information, please contact Lisa Hayley-Jones.


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