Changing Regulatory Perceptions: Towards Strategy & Collaboration
Joining the FinextraTV studio at EBAday 2025, Liliana Fratini Passi, Managing Director, CBI shared her insights surrounding a key conversation at the event: regulatory compliance. Fratini Passi shared a belief that the perception of regulation is moving toward one of a strategic driver as opposed to an obstacle or inconvenience. Touching on Instant Payments in particular, Fratini Passi said that the approaches have drastically changed in recent times but that, in her opinion, the most successful ones tend to be those a collaborative nature.
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The Independent
23 minutes ago
- The Independent
What to do with £200m? Lottery adviser reveals how the suddenly-ultra-rich spend their millions
Those lucky enough to win the jackpot on the lottery will know from the moment their numbers were called; their lives were never the same again. One ticket holder from Ireland scooped a record-breaking €250m (£208m) in the Euromillions Lottery jackpot on Tuesday, after nobody won the jackpot in the draw last week. Most of us have planned what we would do in the dream situation of winning millions in the lottery, from exotic holidays to retiring early. But what actually happens after the adrenaline rush of realising you've picked the lucky numbers? People have spent their money in the past taking their pets on private jets or having a celebrity chef to come and cook Christmas lunch, says Andy Carter Winner's Adviser at Allwyn, the operator of The National Lottery in the UK. Mr Carter is the main point of contact for those who have won the big bucks in the lottery in the UK. He goes visits winners, validates their claim, organises payment and talks them through their next steps to make sure they have the support and advice they need. But the first piece of advice Mr Carter gives winners is to take some time away, take a holiday and let it sink in. He explained the winnings are paid in one lump sum- meaning it can be very overwhelming. 'It's a huge amount of money, it's a big shock for people and they just need to sort of take their time on it,' he told the Independent. 'You went to bed with your life as it was, and you've woken up and won £200m. That amount of money is beyond questions of whether or not you at work, or whether you pay the mortgage or not. 'That is about generational wealth,' he added. 'The people who won this money will be able to help out their great grandchildren and great, great grandchildren who haven't even been born yet.' In the weeks after winning life-changing amounts of money, Mr Carter makes sure winners have access to legal advice, financial advice and well-being advice. 'We make sure they have access to other lottery winners as well. If you've won all this money, the best thing you can do is go and have a cup of tea with someone else who's won because they're the people that will truly understand,' he said. Less than 20 people in the UK have won lottery prizes of more than £100 million, Mr Carter explained. Financial advice is vital for people who have never had to handle this extortionate amount of money. Most people spend their lives making financial decisions on paying off the mortgage, retiring or buying a house. But lottery winners are suddenly burdened with making huge financial decisions. 'Everything you've ever known about money has changed,' Mr Carter said. 'People sit around in pubs across the country thinking what they would do if they won. But when you do win it becomes slightly more serious, and people do probably more conservative things than they perhaps thought they would do,' he added. But that doesn't mean he doesn't advise people to enjoy their winnings, celebrate and tick off bucket list items. Allwyn partners with a concierge service that can arrange bucket list items for winners. They can arrange meetings with celebrities, grand proposals, holidays and arranging private jets. 'You don't want to look back on it in years to come, and I didn't make the most of it,' he said.
The Sun
44 minutes ago
- The Sun
Major UK supermarket slashes price of 80 grocery staples including chocolate, ice cream & vegetables to match Aldi
A MAJOR British supermarket is slashing its prices in its stores and online, giving customers major savings on its most popular items. The retailer has added 80 grocery staples to its well-loved Aldi Price Match in a bid to match the discount retailer. 6 6 6 Tesco has included a wide range of products as part of the new programme including many its private label items. The price of Tesco hummus pots has dropped to 99p alongside many other summer essentials such as fresh produce, like iceberg lettuce for 64p, baby tomatoes lowered to 78p and onions reduced to 35p. Frozen goods have also had the same treatment, with fish and steak included in the programme. But customers, who will be wanting something to keep cool over a hot summer, will be pleased to know that a three-pack of milk chocolate ice creams is now only £1.39, and a 4-pack of strawberry and vanilla ice cream will cost only £1.25. 6 Tesco chief commercial officer Ashwin Prasad said: 'We are absolutely committed to providing great value for Tesco customers, and we have carefully chosen more than 80 additional products to add to our Aldi Price Match scheme. 'We have added many customer favourites, including our Tesco own-brand hummus pots and baby plum tomatoes, giving customers the assurance that they are getting great prices on some of our most popular products.' The huge price cut extends to non-food items too, including exclusive brands like baby and toddler essentials, Fred & Flo. Tesco have announced this bold move following a strong first quarter, which saw sales go up by 5.9%. And yet, the price drop also coincides with the announcement that the rate of food price inflation rose to 4.4% in May, an increase from 3.4% in April, according to the Office for National Statistics (ONS). As a result, the rising cost of essentials like food puts those on lower incomes under particular pressure to make ends meet. Examples of products added to Aldi Price Match While the programme includes 80 products, here are some of the price drops customers can expect. Tesco Houmous (200g) 99p Tesco Iceberg Lettuce (200g) 64p Tesco Baby Plum Tomatoes (300g) 78p Tesco 2 Steak Slices (300g) £1.75 Tesco Red Onions (3 pack) 95p Tesco Lightly Salted Tortilla Chips (200g) 89p Tesco 2 Breaded Chunky Cod Fillets (350g) £3.49 Tesco Deep Pan Cheese Pizza (386g) £1.35 Fred & Flo Easy Fit Pants Size 4 (42 pack) £3.56 Fred & Flo Baby Shampoo (500ml) 82p Tesco Milk Chocolate Ice Creams (3 pack) £1.39 Tesco Strawberry and Vanilla Ice Creams (4 pack) £1.25 6 What's more, Tesco has more than 1,000 prices fixed included in its Low Everyday Prices deals and 9,000 Clubcard Price deals on offer to members each week. This new batch of lower-priced products comes after the retailers removed over 100 items from the programme in February. What is price matching? Since the cost of living crisis has put more and more pressure on consumers, price matching has become common place amongst the 'Big Four' supermarkets. 6 For Tesco, the Aldi Price Match programme was founded five years ago, in addition to its Clubcard membership programme. The aim is to incentivise customers to shop with the retailer for savings, as the UK supermarket giants battle out to have the best prices.
The Independent
an hour ago
- The Independent
The real odds of winning a Premium Bonds prize revealed as millions are ‘missing out'
The real odds of winning a prize through Premium Bonds has been revealed as a personal finance expert weighs in on how worthwhile the popular savings option really is. Premium Bond holders are waiting an average 3.5 years to win a single prize, new analysis from Octopus Money has found. In nine out of ten of these cases, this prize is worth less than £2,000. These findings mean savings in Premium Bonds are likely to be 'quietly shrinking in value,' Octopus Money CEO Ruth Handcock says, calling into question whether this popular financial product is the best option for savers. Millions of people in the UK now have some savings in Premium Bonds, with the government-backed scheme holding more than £127 billion across 24 million accounts. The investment product from National Savings and Investment (NS&I) provides savers with a unique opportunity to win cash prizes rather than accrue interest as with a regular savings account. Each month, every account holder is entered into a draw with prizes ranging from £25 to £1 million. Each £1 entered has a 22,000-to-one chance of winning, with £25 being the minimum and £50,000 the maximum. The new analysis also reveals how much is optimal to hold in Premium Bonds to boost the chance of winning a prize. Over the past five years, 94 per cent of jackpot winners held over £10,000, while three quarters of them held over £25,000. For those who do win prizes, it is exceedingly rare that this will be anywhere close to the top prize. In 2024, 88 per cent of prize winners won less than £2,000, while only 0.32 per cent won over £10,000. An accompanying survey of 2,000 Premium Bond account holders found that the main reason for choosing the product is the perceived lack of risk, followed by the tax-free status of a win and the possibility of a large return. However, over £4.25 billion has been held in Premium Bond accounts that have had no activity over the past decade. This means the money has accrued zero interest during this time, which it would have done in a regular savings account. Ruth Handcock, CEO of Octopus Money commented: 'While products like Premium Bonds may work well for some, others are missing out on strategies that could grow their wealth and deliver stronger returns over time. Premium Bonds are unlikely to outpace inflation, so your money may seem 'safe' but it's quietly shrinking in value over time. 'The truth is that millions of people could be getting more from their money, but they need access to affordable, personalised advice to help them figure out what's right for them - something that only 9 per cent of people in the UK currently receive. 'We want to empower people with the confidence to explore options that help them achieve their long-term goals – not just rely on products that feel 'safe' or like a 'quick win' but fall short in the long run.' An NS&I spokesperson said: 'Premium Bonds are one of the nation's favourite savings products, offering bond holders the excitement of the possibility of winning tax-free prizes each month while knowing their investment is safe and secure, backed by a 100 per cent government guarantee. 'Every Premium Bonds number has a separate and equal chance of winning a prize each month, however the more Bonds you have, the better your chances of winning, and the quicker you may win a prize.'
