The Mutuals and Co-operatives Together (MCT) Group has called on the UK Government to take early action to address financial barriers to growth for mutual societies.
Recently, the Law Commission published a consultation paper as part of a review of the legal framework for friendly societies, stating that the current law governing friendly societies is "fragmented, outdated and in need of modernisation", with the last major update was in this area being in 1992. Friendly society law "has not kept pace" with developments in related areas such as company law and financial services regulation, the commission stated. The MCT Group has now commissioned a report, Harnessing the Mutual sector's potential for growth, showing that addressing financial barri...
To continue reading this article...
Join COVER for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.
