5 Consecutive Days Holiday Per Year

[CourtesyFlush]

Hi,

Does anyone know of any FCA guideline or regulation than means employees of any FCA regulated financial firm need to take at least 5 consecutive days leave in any 12 month period?
I have found this in the FCA Employee handbook, but that would only apply to employees of the FCA, and not FCA regulated firms.

This is quite urgent.

Thanks

CF

[mudskipper]

Actually the FCA employee handbook says 10 days.

http://www.fca.org.uk/static/fca/doc...e-handbook.pdf

Page 13:

What the FCA expects of you:

 To take a period of at least two consecutive working weeks leave per annum.


YourCo isn't a FCA regulated firm, so shouldn't apply, shirley?

[CourtesyFlush]

I honestly thought this only applies to employees of the FCA itself, and not employees of FCA regulated companies.

ClientCo are, after 4 months, now telling me they are enforcing this, and unless I fill out one of their holiday request forms and get is approved they will terminate my contract.

They are saying that as I have an AWR contract, I am basically an employee and need to fall in line.

There is of course the small matter that I don't have an AWR contract, I am not an employee of ClientCo and there are no terms in my contract that enforce their policy.

If this is employee only policy, then in wonder what rights MYCo has to sue for damages should they terminate early? Ie their actions caused MyCo financial losses.

There is the added complication that no one will dignify my emails with a response, let alone come to a meeting to discuss.

[CourtesyFlush]

Actually the FCA employee handbook says 10 days.

http://www.fca.org.uk/static/fca/doc...e-handbook.pdf

Page 13:

What the FCA expects of you:

 To take a period of at least two consecutive working weeks leave per annum.


YourCo isn't a FCA regulated firm, so shouldn't apply, shirley?

The FCA offers a core basic holiday entitlement, which is the same for all permanent employees and is currently 23 days per annum (pro-rated for part-time employees) excluding bank holidays. In addition to this, all permanent and fixed-term employees can select additional holidays through the Flexible Benefits Plan.

From the same document. Sounds very much like the FCA Employees.

Be a right larf if some auditor completely misinterpreted this.

[CourtesyFlush]

I wonder if any CUKers that work at or have recently worked at an IB could comment on their experiences. I'd be interested.

[darrylmg]

The 10 days is so they have time to investigate any fraud you may have been doing.

[CourtesyFlush]

The 10 days is so they have time to investigate any fraud you may have been doing.

Sure. But is this only for significant influence functions (sic) or any plumber, roofer and contractor that works on site?

Is it just the permies?

[BlasterBates]

It applies to employees and contractors.

I used to work in an IB in Switzerland and it was 10 days.

In Switzerland the contractors were mostly temporary employees from a legal point of view going through a payroll co and paid Swiss NI, so it wasn't an issue there.

It strikes me that it's not positive with regards to IR35.

[CourtesyFlush]

It applies to employees and contractors.

I used to work in an IB in Switzerland and it was 10 days.

In Switzerland the contractors were mostly temporary employees from a legal point of view going through a payroll co and paid Swiss NI, so it wasn't an issue there.

It strikes me that it's not positive with regards to IR35.

Thanks for your post BB. I think you may not have read post 3. It is not the matter of having to take holiday that concerns me. It is the point about them forcing me, on pain of contract termination, to fill out one of their holiday request forms, which needs to be approved by 2 line managers.

Do you see the problem?

[mudskipper]

Thanks for your post BB. I think you may not have read post 3. It is not the matter of having to take holiday that concerns me. It is the point about them forcing me, on pain of contract termination, to fill out one of their holiday request forms, which needs to be approved by 2 line managers.

Do you see the problem?

If your contract and working practices are otherwise outside IR35, I'd feel inclined to just do it, join PCG+, and look for something different at renewal time.