UK financial services News

London Expects Only Half of Bankers to Return to Their Offices by Year-End

London’s normally buzzing financial districts will still be a pale shadow by the end of the year, as banks plan for no more than half their staff, who have mostly worked from home throughout the COVID-19 pandemic, to come to …

London Market Group Launches Template for Free Trade in Financial Services

The London Market Group (LMG) launched a paper outlining an ambitious approach to free trade in financial services, using the forthcoming UK-Switzerland trade discussions as a template for an approach to other third countries. The LMG is asking the government …

UK, EU Likely to Miss Deadline for Accessing Financial Services After Brexit: Sources

Britain and the European Union are set to miss their end-June deadline for assessing future cross-border trade in financial services, leaving just six months before a potentially messy UK exit, financial industry and EU officials say. Britain left the EU …

When UK Insurers, Banks Emerge from Lockdown, Their Employees Face New Normal

Limits on elevators, thermal imaging and temperature checks will greet a first wave of traders and bankers in Britain preparing to return to offices under new norms to tackle the coronavirus. Britain’s financial sector is working to bring staff back …

UK Financial Services Sector Remains Resilient Ahead of Brexit: Research

Britain’s exports of financial and related services rose to 83 billion pounds ($106.5 billion) last year, with the European Union still the biggest customer, underscoring the importance of retaining market access to the bloc after Brexit. The latest figures compiled …

British Watchdog FCA Probes Data Sharing in Financial Services

Britain’s Financial Conduct Authority (FCA) is investigating whether sharing data with outside competitors could be extended beyond banks to savings, insurance, mortgages, investments, pensions and consumer credit to increase innovation and choice. “Open banking” rules already allow payment companies and …

UK Financial Services Firms Fail to Improve Gender Pay Gap

Women working in the U.K.’s financial-services industry are seeing little improvement in their pay parity with male colleagues, according to the latest batch of disclosures as this year’s reporting season comes to a close. Businesses have until midnight in London …

EU Financial Services Chief Warns of Market Disruption from No-Deal Brexit

A no-deal Brexit would cause disruption and might also have an impact on liquidity in financial markets, the European Union commissioner in charge of financial services said on Tuesday in a stark reminder of the risks posed by a hard …

UK’s Financial Services Industry Still Unscathed from Brexit Uncertainty: Reuters

Britain’s financial services industry has emerged largely unscathed so far from the build-up to Brexit, with about 2,000 roles expected to have moved or been created overseas even as the risk of a disorderly exit grows, a new Reuters survey …

EU, UK Agree Draft Text for Post-Brexit Ties Although Some Wrangles Remain

Britain and the European Union have agreed a draft text setting out a close post-Brexit relationship, though wrangling with Spain over control of Gibraltar must still be settled before EU leaders meet on Sunday in order to rubber-stamp the pact. …