Lloyds Banking Group Plc will probably take a further £1 billion ($1.6 billion) charge for wrongly sold loan insurance in the year’s second half, undermining efforts to clean up the bank as the government prepares to sell shares to individuals. …
Executives at UK insurers, mortgage brokers and payday-loan companies will be covered by the same “duty of responsibility” as those in banks under legislation introduced in Parliament Thursday. The Bank of England and Financial Services Bill, which will be introduced …
The Financial Conduct Authority (FCA) has “deep cultural problems,” a senior U.K. lawmaker Andrew Tyrie said after the regulator responded to parliamentary criticism of how it handled a newspaper article that sent shares in insurance companies tumbling. The FCA will …
Willis Group Holdings has appointed Nicolas Aubert as CEO of Willis Limited, the Willis Group’s principal UK regulated entity. The appointment, which has received regulatory approval from the Financial Conduct Authority (FCA), takes effect immediately. Aubert takes over responsibility “for …
The head of Britain’s financial watchdog is stepping down early in a move some industry watchers said was a sign the government wants to take a less confrontational stance towards banks. Sources familiar with the matter said Martin Wheatley, viewed …
The UK’s Financial Conduct Authority criticized the insurance industry for “poor practices” and “significant” failures in handling claims for small and medium-sized enterprises (SMEs). The regulator said a review of the experiences of business customers showed more dissatisfaction with insurers …
More than one in 10 people picked for the top jobs in British finance pull out during a regulatory vetting process which has got tougher since the financial crisis. People put forward for chief executive, chairman and for a handful …
Britain’s Financial Conduct Authority said some price-comparison websites for general insurance are failing to meet regulatory standards. Websites “did not always ensure that consumers were given the appropriate information to help them make informed decisions,” the FCA said in a …
Francis Kean, executive director in Willis’s financial and executive risks practice has examined a growing trend in white-collar crime in a WillisWire blog. He indicated that” according to a report in The Times on Thursday 22nd May 2014, the number …
The U.K.’s top financial conduct watchdog’s first birthday today was marred by complaints from the government and lawmakers about its handling of a leak that sent shares in insurance companies tumbling last week. The Financial Conduct Authority’s private briefing to …
