Britain’s top financial regulators have scrapped proposed new rules to boost diversity and inclusion in the industry, and mothballed a fresh crackdown on non-financial misconduct, citing fears of imposing unnecessary regulatory burdens on firms. The Prudential Regulation Authority and Financial …
British finance minister Rachel Reeves said on Monday she would meet representatives from key financial services sectors, such as banking and insurance, over the coming months to formulate a new growth and competitiveness strategy. “I am committed to working hand-in-hand …
The UK’s push to deregulate its way to growth has got veterans of the last financial crisis worried that it’s sowing the seeds for another crash. Labour, for decades the political party that favored taming the City of London, now …
Almost one in four British businesses cut jobs in December amid widespread pessimism over the squeeze on their finances from Labour’s tax-raising budget. S&P Global’s purchasing managers’ index confirmed that the private sector stagnated at the end of 2024 with …
The Bank of England will hide the identities of any pension funds, insurers or hedge funds bailed out under a new financial stability tool to prevent a wider crisis engulfing the economy, Deputy Governor Dave Ramsden said. The BOE has …
The UK’s top financial regulator has spent much of its eleven-year history in combat with the industry it oversees, a tone set by its first chief executive Martin Wheatley, whose zeal for fining banks got him ousted in 2015. Now, …
Finance minister Rachel Reeves on Thursday promised a reboot of regulation governing Britain’s “crown jewel” financial industry which she said has shackled the City’s global prospects since the global financial crisis and stifled UK economic growth. According to extracts from …
British finance minister Rachel Reeves needs to strike a positive tone at her first budget on Oct. 30 in order to give businesses the confidence to invest, the Confederation of British Industry said on Tuesday. After winning a large parliament …
Senior figures in the insurance industry are calling on the UK to restart work on a potential new market worth billions of pounds as part of a drive to boost competitiveness. Executives have written to Chancellor Rachel Reeves calling for …
Banks and asset managers in the UK woke up to a new reality on Friday, as the country enforces some of the most far-reaching anti-greenwashing rules ever seen. Due to its broad scope, the new requirement from the Financial Conduct …
