Britain’s regulators must push ahead with applying their new post-Brexit remit to help keep the country’s financial sector globally competitive, industry officials said on Thursday. After Britain’s departure from the European Union, the government has come under pressure to maintain …
Britain and the European Union signed a long-delayed post-Brexit cooperation pact in financial services on Tuesday, but the rapprochement is unlikely to restore EU access for the City of London anytime soon. The memorandum of understanding on regulatory cooperation was …
The Bank of England on Thursday proposed further reforms to capital rules for insurers in a step it said would cut red tape without lowering solvency standards. The Solvency II rules were inherited from the European Union and their reform …
Britain’s finance ministry said on Thursday that the first batch of post-Brexit reforms to “Solvency II” capital rules for insurers, which it hopes will unlock billions of pounds to boost growth, will be implemented by the end of this year. …
Britain on Thursday launched a long-awaited consultation on reforming rules brought in after the global financial crisis to make top bankers accountable for their decisions, saying a globally competitive finance sector is key to economic growth. Britain broke regulatory ground …
Investors Aviva and M&G on Thursday joined calls for Britain to press ahead with financial reforms and give high-growth sectors such as technology companies more support to keep London’s markets competitive. Finance bosses have warned that the British capital risks …
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 …
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 …
Britain will seek to reset relations between the City of London and the European Union on Thursday, saying it will stick to high standards in finance and not do anything to undermine financial stability in the bloc in the wake …
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 …
