The cost of dying has reached record highs of almost £10,000, fuelled by an increase in elaborate send-offs. Disney-themed funerals where everyone dresses up as their favourite character, all-pink wedding-style ceremonies in a rejection of the traditional black garb, and a motor-cycle and sidecar in place of a hearse, are just some of the ways that families today are commemorating the lives of lost loved ones. It means funeral costs are now higher than they have ever been, having increased year on year for more than a decade.

The Supreme Court has issued a Press Summary in the case of Miller and others v Ministry of Justice. It decided an appeal concerning the issue of when time starts to run for a claim by a part-time judge to a pension under the Part-time Workers’ Directive. The Supreme Court ruled in favour of four judges who had been denied pensions for part-time work.

Browne Jacobson, a law firm acting on behalf of the judges, commented: “This judgment means that fee-paid judges who were subsequently appointed full-time salaried members of the judiciary will now be entitled to pensions in respect of their former part-time service.” The law firm also estimated that more than 1,000 judges could be entitled to back payments and pensions, which it said could cost the Ministry of Justice up to £1bn. The Ministry of Justice said that it did not recognise the £1bn estimate, adding: “[W]e accept the Court’s judgment and are considering how to implement it.”

Investors are still being exposed to adverts for mini-bonds on Google, despite a one-year ban taking effect from the start of 2019. Reports over the weekend cited a number of examples of mini-bonds at the top of an online search for certain terms, such as “high-return investments” or “top Isa rates”. This goes against the spirit of new rules that came into effect at the start of the year, which banned the marketing of mini-bonds to retail investors for one year.

During this period the regulator will consider making the ban permanent. Ahead of the ban, in an interview with Reuters in late November, Andrew Bailey, chief executive of the Financial Conduct Authority, who will take on the role of governor of the Bank of England, called on internet firms including Google to help it stop mini-bonds being promoted to retail investors. Mini-bonds have come under increased scrutiny, following several high-profile scandals.

One of the most prominent cases has been London Capital & Finance, which left almost 12,000 pensioners and first-time investors out of pocket following its collapse. Mini bonds are targeted at small investors, and they can be bought from as little as £1,000. The far larger corporate bond market is dominated by institutions and comes with much higher minimum investment requirements.

SKL Professional Recruitment Agency Ltd and managing director Linus Kadzere were sentenced for wilfully failing to comply with their workplace pension duties and providing false information to The Pensions Regulator (TPR).

Mr Kadzere made a false declaration of compliance stating that the company had automatically enrolled 22 staff. However, although a scheme had been set up the staff hadn’t been enrolled and contributions were deducted from pay but not paid into a scheme. Mr Kadzere was fined £1,300 plus a victim surcharge or £120 and SKL £6,000 plus a victim surcharge of £120 and costs of £3,350.

E&W High Court upholds mother’s decision to disinherit daughter for unkindness

A daughter’s bid to have her mother’s will overturned has failed with the High Court of England and Wales upholding a mother’s decision to disinherit her daughter for unkindness.

The mother who died in 2015 aged 96 made and executed a will in 2005 leaving a legacy to her daughter of just £100.

The daughter who had three siblings, one of whom had died before the will was executed, accused her surviving brother, who was also the executor of the will along with the solicitor, of forgery and undue influence over the will. She also alleged that her mother lacked both testamentary capacity and knowledge and approval of the will’s terms.

The will included an explanatory note, apparently drafted in 2003, stating that “Both my daughters, Beverley and Patricia, have shown very little care and concern for me in my later years and in particular they have both been rude, unpleasant and in some instances physically violent and abusive towards me and have verbally expressed their lack of care and concern… I therefore have no desire that they should benefit from my estate over and beyond the legacies I have made in this will.”

The mother’s medical records were also available and showed no support for the allegation that her mother had suffered from dementia “since about 2001”, although it was evident that she had lost capacity later on. Moreover, the mother’s solicitor gave evidence that there was no question in his mind that she had been unduly influenced by the son or anyone else. Likewise, he had no doubt as to her mental capacity to make and execute the 2005 will, and if there had been the slightest doubt he would have arranged for a medical examination.

The Judge dismissed the claims entirely, noting in passing that the daughter’s accusation of forgery in the will’s execution would have required the collusion of all three independent witnesses. He duly found for the executors and granted probate to the 2005 will (Barnaby v Johnson, 2019 EWHC 3344 Ch).

In this case the Judge dismissed the claims, however this is not always the case, therefore if individuals want to ensure that their assets are passed on in accordance with their wishes an alternative would be to place assets into trust where possible.

The Financial Conduct Authority (FCA) has launched a Call for Input on the opportunities, and potential risks, presented by so-called ‘open finance’

Open finance refers to the extension of open banking-like data sharing and third-party access to a wider range of financial sectors and products.   Open banking was designed to increase innovation and competition in banking and payment services. Along with the revised Payment Services Directive (PSD2), it introduced a secure environment enabling customers to consent to third parties accessing their payment account information or making payments on their behalf.

Open finance builds on the principles of open banking – the sharing of data which provides new ways for customers and businesses to make the most of their money. Open finance would extend those principles to a wider range of products, such as savings, insurance, mortgages, investments, pensions and consumer credit.

It is based on the principle that the data supplied by and created on behalf of financial services customers are owned and controlled by those customers. Re-use of these data by other providers takes place in a safe and ethical environment with informed consumer consent. This would mean that a financial services customer who consents to a third-party provider (TPP) accessing their financial data, could be offered tailored products and services as a result. Access would be provided by that customer’s current financial services provider under a clear framework of consent.

The FCA has however identified a number of potential risks, such as customers with certain characteristics being excluded from certain markets, exclusion of consumers who opt out of data sharing, and those consumers getting less advantageous pricing (a so called ‘privacy premium’). The Call for Input will launch a discussion on the opportunities and risks arising from open finance, what is needed to ensure it develops in the best interests of consumers, and what role the FCA should play.

The FCA has set up an advisory group to help drive forward its future strategy. It has also published the advice of this group, which comprises industry experts, consumer and business representatives, academics and Government departments.