March 9, 2023
Britain’s revamped financial market rules will largely be aligned with U.S. and European Union regulations to minimize disruption to global companies, its financial services minister Andrew Griffith said on Thursday. Britain left the EU in 2020 and has since proposed …
March 7, 2023
The governor of the Bank of England has told lawmakers that the UK government’s plans to reform insurance capital rules increases the annual risk of a failure in the life insurance sector by around 20%. The likelihood of a failure …
February 21, 2023
The Bank of England sought on Monday to allay fears among insurers that it was dragging its feet over a long-trailed and disputed reform of their capital rules, saying a “very good sense” of the changes would emerge well before …
February 10, 2023
The UK government is in talks to speed the implementation of a flagship insurance reform to release £100 billion ($121 billion) of capital for investment, after months of clashes over the plans and frustration about the slow pace of change. …
January 25, 2023
Britain’s financial regulators would face more scrutiny over their policies for consumers and the economy from Parliament under proposals from members of the House of Lords. A new independent body could track progress against certain metrics, with elected officials also …
January 23, 2023
Insurers loved the UK government’s long-awaited plans to free up billions of pounds of their capital. But after the celebrations have come fears that regulators could nudge the changes in a more cautious direction. Reforms to City of London rules, …
December 22, 2022
After a jarring six months marked by sweeping policy promises, U-turns and four Chancellors of the Exchequer, UK financiers head into 2023 uncertain that the coming year will finally usher in substantive reforms to the City of London. Current Chancellor …
December 12, 2022
The UK set out a package of financial services reforms that cuts across dozens of areas but fell short of the “Big Bang” that politicians were promising earlier this year and is unlikely to deliver the dramatic reshaping that some …
November 18, 2022
After years of fraught debate between regulators, insurers and the Treasury, Jeremy Hunt confirmed Thursday that the government would push forward with reforms to a corner of the City of London that’s intended to release billions of pounds of investment …
November 17, 2022
The British government and the Bank of England are reforming insurers’ capital rules, seen as a post-Brexit test of UK willingness to “unshackle” the City of London after leaving the European Union. Reform would potentially free up billions of pounds …