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. …
Britain’s regulators can be slow, inefficient and unpredictable, raising costs and slowly damaging the financial sector’s global competitiveness, industry body TheCityUK said in a report. Complex, opaque and slow authorizations, such as for a new chief executive or a new …
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 …
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, …
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 …
Investment funds and other non-bank financial institutions face their first “stress test” next year to apply lessons from the near-meltdown in Britain’s pension fund sector, the Bank of England (BoE) said on Tuesday. The BoE had to step in from …
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 …
Britain is just at the beginning of post-Brexit efforts to keep London a top global financial center, but deregulation will be selective to ensure high standards are kept, financial services minister Andrew Griffith said on Thursday. Finance represents one in …
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 …
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 …
