Articles by Huw Jones

Major Post-Brexit Risk: UK’s $33.5B of Financial Services Exports to EU

Britain must avoid tying Brussels up in red tape or antagonizing its soon to be former European Union partners and the United States if it is to maintain access to the bloc’s financial services market after Brexit. At risk is …

UK’s Financial Services Exports Highlight Need to Keep Post-Brexit Access: Officials

Britain’s exports of financial services to the European Union hit a record high last year, highlighting the need for the City to preserve access to the bloc after Brexit, industry officials said on Tuesday. Exports rose 3.6 billion pounds ($4.73 …

UK Insurers, Banks ‘Must Plan for Hard Brexit’ if Transition Deal Fails: Regulator

Britain’s banks and insurers must plan for a “hard” Brexit in case a transition period is not in place next March, a senior British regulator said on Thursday in a warning echoed by Brussels. “With eight months until we exit …

UK Banks, Insurers Support Global Standards for Regulation After Brexit: Watchdog

Britain’s banks and insurers want to stick to global standards on financial regulation after Brexit and are not calling for a “race to the bottom” to win business from European rivals, the head of Britain’s financial watchdog said on Wednesday. …

UK Regulator Warns Insurers, Banks About Responsible Use of Customers’ Big Data

Britain’s banks and insurers must take the lead in spelling out how they will use data collected from customers or they could face new rules, Financial Conduct Authority Chair Charles Randell said on Wednesday. Financial firms have been using Big …

EU Will Not Ease Post-Brexit Market Access for UK Insurers, Banks: Official

The European Union’s default market access for foreign financial firms will not be eased for Britain after Brexit and improvements to the equivalence regime will apply to all third countries, an EU official told Reuters. The official’s comments raise the …

Lawmaker Calls for UK to Uphold Financial Services Competitiveness After Brexit

Britain’s financial regulators should have a formal objective to keep London’s banking and insurance sectors globally competitive after Brexit, a senior lawmaker said on Thursday. The now defunct Financial Services Authority had a requirement to pay heed to competitiveness – …

UK Minister Vows Financial Services to Remain ‘National Priority’ After Brexit

Financial services will remain a “guiding light” for Britain’s economy after Brexit and there is no intention to “rip up the rulebook” to compete better as a top financial center, a government minister said on Tuesday. “My priority is to …

It’s Up to Insurers to Prevent Brexit Disruption of Policies, Warns EU Chief

There is no guarantee that Brexit won’t disrupt millions of insurance and derivative contracts and it is still up to firms to take preventive measures, the European Union’s financial services chief said on Thursday. Valdis Dombrovskis was asked by EU …

Insurers Advance Post-Brexit Hub Plans Despite Promises of Transition

Lloyd’s of London, AIG, Allianz and other insurers are ignoring assurances and establishing new hubs in Britain and the European Union before Brexit in March 2019 to ensure access to customers. The moves come despite a “standstill” transition agreement struck …