The governor of the Bank of England has told lawmakers that the UK government’s plans to reform insurance capital rules increases the annual risk of a failure in the life insurance sector by around 20%. The likelihood of a failure …
Britain will seek to reset relations between the City of London and the European Union on Thursday, saying it will stick to high standards in finance and not do anything to undermine financial stability in the bloc in the wake …
The Bank of England sought on Monday to allay fears among insurers that it was dragging its feet over a long-trailed and disputed reform of their capital rules, saying a “very good sense” of the changes would emerge well before …
The UK government is in talks to speed the implementation of a flagship insurance reform to release £100 billion ($121 billion) of capital for investment, after months of clashes over the plans and frustration about the slow pace of change. …
Britain’s financial regulators would face more scrutiny over their policies for consumers and the economy from Parliament under proposals from members of the House of Lords. A new independent body could track progress against certain metrics, with elected officials also …
Insurers loved the UK government’s long-awaited plans to free up billions of pounds of their capital. But after the celebrations have come fears that regulators could nudge the changes in a more cautious direction. Reforms to City of London rules, …
After a jarring six months marked by sweeping policy promises, U-turns and four Chancellors of the Exchequer, UK financiers head into 2023 uncertain that the coming year will finally usher in substantive reforms to the City of London. Current Chancellor …
The UK set out a package of financial services reforms that cuts across dozens of areas but fell short of the “Big Bang” that politicians were promising earlier this year and is unlikely to deliver the dramatic reshaping that some …
Britain is just at the beginning of post-Brexit efforts to keep London a top global financial center, but deregulation will be selective to ensure high standards are kept, financial services minister Andrew Griffith said on Thursday. Finance represents one in …
Bank of England Governor Andrew Bailey took the British government to task on Wednesday over its plan to give itself veto powers over post-Brexit financial rules written by independent regulators, including the central bank. Britain’s government has promised a deregulatory …
