Sam Woods, Britain’s top banking regulator, said a consultancy’s estimate that Brexit could cause as many as 75,000 job losses in banking and insurance is “plausible” if the U.K. leaves the European Union without a trade deal. About 10,000 U.K.-based …
UK regulators set out plans for ensuring senior staff of financial-services firms can be held to account for misconduct on their watch, extending rules already in place for banks to almost all firms. The Senior Managers and Certification Regime is …
Sam Woods, a former U.K. Treasury official, was appointed as deputy governor for regulation at the Bank of England, replacing Andrew Bailey. Woods — who will continue as the central bank’s executive director of insurance until the end of June …
The European Union lowered capital requirements on insurance companies to spur investment in long-term infrastructure projects as policy makers struggle to revive the bloc’s flagging economy. Risk charges for insurers’ unlisted equity shares in projects such as energy pipelines, transport …
The U.K.’s looming in/out referendum on European Union membership, which may come as early as June, has sparked jitters, with analysts predicting declines in everything from London property prices to the pound. But what would so-called Brexit really mean for …
A European Union regulation intended to prevent a rerun of the global credit crunch by shining a light on financing arrangements such as repurchase agreements, securities lending and margin loans comes into force on Tuesday. The EU’s Securities Financing Transactions …
National authorities in the European Union will have to submit to binding arbitration if they can’t decide whether to apply the bloc’s new rules on simple securitizations to a transaction, a European Commission document shows. In the undated draft regulation …
The European Union is preparing reduced capital requirements for insurers in a bid to spur investment in long-term infrastructure projects. The European Commission, the EU’s executive arm, is considering amending insurance rules known as the Solvency II Delegated Act to …
The European Commission is seeking to cut the minimum risk weight on securitizations that qualify as simple and transparent to 10 percent to help jump-start the bloc’s capital markets. The 5 percentage-point reduction in the risk weighting for securities backed …
UK insurers face tougher conduct rules as the Financial Conduct Authority makes it easier to hold individuals at financial firms to account for failures on their watch. The FCA issued final rules on Thursday amending its accountability framework for firms …
