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Former Tory MP Chris Pincher is appealing an eight-week suspension – which was recommended after an investigation into groping claims made against him.

A letter from the Independent Expert Panel – which handles appeals against such rulings – confirmed his decision on Thursday night, hours before the deadline.

The allegations surfaced last summer when the then deputy chief whip was accused of assaulting two guests at the exclusive Carlton Club in London.

He resigned from his post and was later suspended by the Conservative Party.

The parliamentary watchdog launched its investigation in October, looking into whether Mr Pincher’s actions caused “significant damage to the reputation of the House” – a breach of the members’ code.

The Commons Standards Committee published its conclusions earlier this month, saying the MP’s conduct had been “completely inappropriate, profoundly damaging to the individuals concerned, and represented an abuse of power”, and that his actions would “significantly impact public perception of the House and its members”.

It recommended the eight-week suspension, which would likely trigger a by-election in his constituency of Tamworth, and Mr Pincher – who now sits as an independent – had until Thursday to launch an appeal.

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July 2022: Chris Pincher quizzed by Sky News

In his response to the investigation, Mr Pincher said: “I apologise sincerely again for my behaviour at the Carlton Club last year, as I did the day I resigned from the government.

“I have sought professional medical help, which is ongoing and has been beneficial to me, for which I am grateful.

“I am truly grateful for the kindness that I have received from my constituents, family and friends.”

What were the allegations in report?

The watchdog gave details of the allegations against the MP in its report, with a House of Lords employee saying Mr Pincher had stroked his neck and squeezed his bottom.

The second complainant – a civil servant – said he touched his bottom before moving his hand to touch and squeeze his testicles.

Mr Pincher told the investigation that he did not remember the events that took place that evening, but apologised to all parties involved.

However, he claimed he had returned to the club after the event in a personal capacity and denied his behaviour had caused significant damage to the reputation of the House and its members.

And he also claimed there were “inconsistencies, anomalies and gaps in the evidence” which he argued “don’t present a complete picture”.

But the standards commissioner, Daniel Greenberg, called his behaviour “shocking” and “deeply inappropriate”, and concluded Mr Pincher had breached paragraph 17 of the 2019 Code of Conduct for Members.

The Commons will have to agree any suspension before it takes place, but that will now be delayed while the appeal is heard and while MPs are on their summer recess.

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Crypto industry, trade unions clash over multi-trillion dollar retirement funds

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Crypto industry, trade unions clash over multi-trillion dollar retirement funds

A growing rift has emerged in Washington, D.C., between the cryptocurrency industry and labor unions as lawmakers debate whether to ease rules allowing cryptocurrencies in 401(k) retirement accounts.

The dispute centers on proposed market structure legislation that would allow retirement accounts to gain exposure to crypto, a move labor groups say could expose workers to speculative risk. In a letter sent on Wednesday to the US Senate Banking Committee, the American Federation of Teachers argued that cryptocurrencies are too volatile for pension and retirement savings, warning that workers could face significant losses.

The letter drew immediate pushback from crypto investors and industry figures. “The American Federation of Teachers has somehow developed the most logically incoherent, least educated take one could possibly author on the matter of crypto market structure regulation,” a crypto investor said on X. 

Retirement, Pensions
The AFT letter to Congress opposes regulatory changes that would allow 401(k) retirement accounts to hold alternative assets, including cryptocurrency. Source: CNBC

In response to the letter, Castle Island Ventures partner Sean Judge said the bill would improve oversight and reduce systemic risk, while enabling pension funds to access an asset class that has delivered strong long-term returns.

Consensys attorney Bill Hughes said the AFT’s opposition to the crypto market structure bill was politically motivated, accusing the group of acting as an extension of Democratic lawmakers.

Retirement, Pensions
Funds held in US retirement accounts by type of account plan. Source: ICI

Related: Atkins says SEC has ‘enough authority’ to drive crypto rules forward in 2026

Opposition to crypto in retirement and pension funds mounts

Proponents of allowing crypto in retirement portfolios, on the other hand, argue that it democratizes finance, while trade unions have voiced strong opposition to relaxing current regulations, claiming that crypto is too risky for traditional retirement plans.

“Unregulated, risky currencies and investments are not where we should put pensions and retirement savings. The wild, wild west is not what we need, whether it’s crypto, AI, or social media,” AFT president Randi Weingarten said on Thursday. 

The AFT represents 1.8 million teachers and educational professionals in the US and is one of the largest teachers’ unions in the country.

According to Better Markets, a nonprofit and nonpartisan advocacy organization, cryptocurrencies are too volatile for traditional retirement portfolios, and their high volatility can create time-horizon mismatches for pension investors seeking a predictable, low-volatility retirement plan.

Retirement, Pensions
Bitcoin and Ether volatility compared to other asset classes and stock indexes. Source: US Federal Reserve

In October, the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) also wrote to Congress opposing provisions within the crypto market structure regulatory bill.

The AFL-CIO, the largest federation of trade unions in the US, wrote that cryptocurrencies are volatile and pose a systemic risk to pension funds and the broader financial system.

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