Britain’s banks and insurers must plan for a “hard” Brexit in case a transition period is not in place next March, a senior British regulator said on Thursday in a warning echoed by Brussels. “With eight months until we exit …
Britain’s banks and insurers want to stick to global standards on financial regulation after Brexit and are not calling for a “race to the bottom” to win business from European rivals, the head of Britain’s financial watchdog said on Wednesday. …
Britain’s banks and insurers must take the lead in spelling out how they will use data collected from customers or they could face new rules, Financial Conduct Authority Chair Charles Randell said on Wednesday. Financial firms have been using Big …
The European Union’s default market access for foreign financial firms will not be eased for Britain after Brexit and improvements to the equivalence regime will apply to all third countries, an EU official told Reuters. The official’s comments raise the …
Britain’s financial regulators should have a formal objective to keep London’s banking and insurance sectors globally competitive after Brexit, a senior lawmaker said on Thursday. The now defunct Financial Services Authority had a requirement to pay heed to competitiveness – …
Financial services will remain a “guiding light” for Britain’s economy after Brexit and there is no intention to “rip up the rulebook” to compete better as a top financial center, a government minister said on Tuesday. “My priority is to …
There is no guarantee that Brexit won’t disrupt millions of insurance and derivative contracts and it is still up to firms to take preventive measures, the European Union’s financial services chief said on Thursday. Valdis Dombrovskis was asked by EU …
Lloyd’s of London, AIG, Allianz and other insurers are ignoring assurances and establishing new hubs in Britain and the European Union before Brexit in March 2019 to ensure access to customers. The moves come despite a “standstill” transition agreement struck …
Most business on the Lloyd’s of London insurance market will be negotiated electronically by the end of next year, its chief executive Inga Beale said on Monday. The largest commercial insurance market in the world still runs a trading room …
European Union regulators urged banks, investors and customers on Thursday to take “timely action” to avoid disruption to cross-border derivatives and insurance contracts caused by Brexit. Britain leaves the EU in March 2019 and a “standstill” transition deal until the …
