Articles by Huw Jones

EU Seeks Agreement on Ground-Breaking Regulations for Crypto Assets

The European Union on Thursday will seek agreement on ground-breaking rules for regulating crypto assets as the rout in bitcoin piles pressure on authorities to rein in the sector. Globally, crypto assets are largely unregulated, with national operators in the …

Rise of Women to Top UK Financial Services Roles ‘Stagnating’

Britain’s six-year drive to increase the number of women in senior management at financial firms is “stagnating” for the first time, a review for the finance ministry said on Thursday. The ministry launched its voluntary Women in Finance Charter in …

Parliament Cautions Regulators: UK Finance, Insurance Yet to Feel Full Brexit Impact

Britain should avoid hasty reforms to make its financial sector more globally competitive after the industry’s separation from the European Union by Brexit, a parliamentary report said on Thursday. The finance ministry has proposed scores of changes to rules governing …

UK Should Avoid Hasty Financial Services Reforms Following Brexit: Lawmakers

Britain should avoid hasty reforms to make its financial sector more globally competitive after the industry’s separation from the European Union by Brexit, a parliamentary report said on Thursday. The finance ministry has proposed scores of changes to rules governing …

UK Lawmakers Warn About Watering Down Post-Brexit Financial Regulation

Brexit is no reason to radically alter British financial regulation and regulators should not be forced to water down rules to boost London’s competitiveness, or stray from global standards, a UK parliamentary committee report said on Thursday. Britain’s departure from …

Insurers Must Be Better Prepared for Impact of Climate Change: BoE

Insurers need to plug data gaps to be better prepared for the impact of climate change on their operations and further work may be needed on how much capital they should hold, the Bank of England (BoE) said on Wednesday. …

‘Big Four’ Audit Firms Targeted for Reforms in UK After Spate of Corporate Failures

Britain set out sweeping reforms of big company audits on Tuesday after high-profile collapses at builder Carillion and retailer BHS in recent years hit thousands of jobs and raised questions about accounting quality. The business ministry detailed changes to auditing …

Insurers, Banks Must Take Climate Action or Face Profit Hit, Higher Capital Charges: BOE

LONDON – Banks and insurers that fail to manage climate risks as a “first-order” issue could face a 10% to 15% hit to annual profits and higher capital requirements, the Bank of England (BoE) said on Tuesday. In its first …

Britain Aims to Bolster Competitiveness in Financial Services With Nimbler Regulation

Britain said on Tuesday it will require its regulators to help the City of London remain a globally competitive financial center after being largely cut off from the European Union due to Brexit. The government outlined planned legislation marking the …

Britain Proposes Post-Brexit Relaxation of Solvency II Capital Rules for Insurers

Britain launched public consultation on Thursday for a post-Brexit relaxation of capital rules for insurers, in a step the government said would increase investments in long-term infrastructure. Britain inherited rules known as Solvency II from the European Union, and reforming …