February 7, 2022
Britain’s finance ministry said on Friday that Richard Lloyd had been appointed interim chair of the Financial Conduct Authority from June at a “pivotal” time for the watchdog as it faces internal and external challenges. Lloyd, a former head of …
February 7, 2022
Rapid action is needed to update how cross-border financial services are scrutinized and consumers protected as the sector becomes digitalized with “Big Tech” playing an increased role, European Union regulators said on Monday. People are turning to social media and …
January 24, 2022
Leading British asset manager Aviva Investors plans to push boards for greater action on biodiversity and human rights so that companies consider “the whole picture of sustainability.” Alongside climate change, a core focus for most investors, Aviva’s move reflects growing …
January 20, 2022
Britain’s financial watchdog said on Wednesday it planned to curb the marketing of cryptoassets and other high-risk investments, a move that comes amid a boom in crypto ads and endorsements from celebrities. The changes would strengthen risk warnings on ads …
December 3, 2021
The business model used by collapsed supply chain financing firm Greensill Capital is causing a “high level of harm” and tighter rules are needed, Britain’s Financial Conduct Authority said on Friday. The watchdog set out proposals for public consultation to …
November 4, 2021
LONDON – Insurers could face European climate stress tests as soon as 2023, the head of the EU’s insurance regulator said at the Reuters Future of Insurance Europe conference on Thursday. The insurance industry faces exposure to climate change risk …
October 29, 2021
The Bank of England will crack down from next year on banks and insurers that do not hold enough capital to cover risks from climate change, while also considering bespoke safety buffers. Climate-related financial risks are partially captured by existing …
October 26, 2021
Britain’s financial watchdog said on Tuesday it won’t stop insurer LV= from proceeding with the disputed sale of its pensions and life insurance business to U.S. private equity company Bain Capital. LV=, founded in 1843 and formerly known as Liverpool …
October 15, 2021
Around half of companies assessed have begun to apply globally agreed climate-related disclosure standards for helping investors to pick firms committed to sustainability, regulators said on Thursday. A task force set up by the Financial Stability Board – which groups …
October 11, 2021
New rules will be needed to deal with operational risks from banks relying on outsourced “cloud” computing from Amazon, Google, Microsoft and others for providing services to customers, the Bank of England said on Friday. “Regulated firms will continue to …