Britain said on Wednesday [Aug. 2] it would start work on setting up new rules specially designed to prevent a big insurance company collapse from crashing the financial system. Regulators have already introduced rules to deal with ailing banks after …
After an international career in finance, a rapid political rise and high profile as chancellor of the exchequer during the pandemic, Rishi Sunak must have expected the full-throated backing of the financial sector when he made a bid to lead …
Liz Truss, the front-runner to become Britain’s next prime minister, wants to examine the roles of the country’s three financial regulators as part of a review, a source close to her leadership campaign said on Thursday. Provided she wins the …
Weakening the independence of regulators would undermine reforms to bolster Britain’s finance industry, the head of the Bank of England said on Thursday, in a rebuff to proposals from the leading candidate to be the country’s next prime minister. The …
Britain’s government proposed a far-reaching financial services law last month to exploit “freedoms” to write its own capital market rules since leaving the European Union. Approval of what is the biggest markets reform in two decades is expected by May …
Insurers would potentially be able to use billions of pounds of expected gains from a relaxation of capital rules for share buybacks and to pay dividends, under plans by both candidates to succeed Boris Johnson as UK prime minister. Foreign …
A push to make London more attractive as a global financial center after Brexit must not threaten high standards of solvency and behavior at banks, insurers and markets, the International Monetary Fund said on Wednesday. The IMF said in its …
Britain will unlock “tens of billions of pounds” of insurance sector capital that should boost the economy through infrastructure investment, financial services minister John Glen said on Monday. The six-year-old “Solvency II” capital requirements were inherited from the European Union …
The UK Financial Conduct Authority (FCA) reminded insurers on Thursday to have “robust” operational resilience and business continuity plans in place to respond to possible disruptions caused by the coronavirus pandemic. The FCA expects firms to have “sufficiently robust systems …
A senior official from Britain’s insurance sector on Wednesday laid out the case for selective divergence from EU rules to add to London’s appeal as a competitive global financial center. Britain left the European Union on Jan. 31 and will …
