Peer group benchmark meaning

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision; accountability, culture and social governance; prudential requirements Financial crime and sanctions; investigations, enforcement and discipline Benchmarks/IBOR reform and capital markets regulation; dispute resolution for financial services lawyers Derivatives regulation; sustainable finance and ESG Banks and mutuals; investment funds and asset management UK MiFID II and EU MiFID II Consumer credit, mortgage and home finance; insurance regulation Payment services and systems; fintech and cryptoassets LexTalk® Financial Services: a Lexis®Nexis community; Financial Services Enforcement Database Daily/weekly and intraday news alerts; new and updated content; dates for your diary; latest Q&As UK, EU and international regulators and bodies EIOPA publishes strategy to simplify regulation and enhance European competitiveness The European Insurance and Occupational Pensions Authority (EIOPA) has set out a plan to streamline rules and cut administrative burdens to strengthen Europe’s competitiveness. The strategy prioritises supportive business conditions, robust consumer protection,...

This Practice Note sets out a range of approaches for gauging a law firm’s financial performance. It further offers guidance on analysing and benchmarking financial data so that results can be compared with prior years and with competitors. It explains how to interpret trends and set benchmarks for meaningful comparison. What key aspects of performance need to be measured? Firms must look at income, expenditure and cash flow together to avoid running out of funds. Income Expenditure Cash flow This information should be reviewed routinely, at least once a month, and budget holders should monitor the figures for which they are accountable. Regular, at least monthly, reviews are essential. Fee income Fee income fluctuates and directly impacts profit. For that reason, fee generation warrants close oversight, ideally month by month. A downward trend in fees can indicate looming difficulties, especially where overheads are static or rising and/or the firm faces greater competition in the market; see Precedent: Fee...