@nick_lawson here’s what I am looking at right now:
So basically, one of our contacts with loads of HNW and UHNW contacts in the major companies explained to us that because of the Bribery Act, companies have to now be careful and rein in their spending as “Client Hospitality” can now be seen as a form of bribery! He also said that business meetings and conferences are okay and are now being held in the more traditional spots like hotels, but when it comes to buying food, drink and entertainment for clients it gets a bit sticky!
And its not the first time it has been mentioned to us - apparently those useful client lunches that the corporates love are also being clamped down on
So yes @Belinda_Booker I think it must be the same kind of thing!
What confuses me though is that people are referring to the Bribery Act and MIFID II as one and the same. From doing some research on both, and reading a whole bunch of jargon that I don’t quite understand - I am not quite sure how it is one and the same which is why I think my colleague and I may actually attend the event in the first link to learn more about it.
There are a whole lot of articles on the web about how it affects other business sectors, but none so far on how it will affect the events industry come 2018!
@womeninthecity I think it must be a combination of a few things and also possibly the fact that its end of year and budgets are tight! So for luxury venues it sucks even more! lots of restrictions it seems at the moment so trying to find a way around that or somehow discover an untapped market (too ambitious?)