Mark Carney pledged to shore up financial stability as he warned that the risks from Britain’s shock decision to leave the European Union have started to crystallize. “There is the prospect of a material slowing of the economy,” the Bank …
Britain’s biggest insurers will be exempt from having their most important indicator of financial health externally audited under proposals issued by the Bank of England on Friday. New European Union rules will require British-based insurance firms from January to meet …
UK banks and insurers must appoint a senior manager to “champion” internal whistleblowers as regulators attempt to protect tipsters who come forward with evidence of illegal conduct. The U.K. Financial Conduct Authority and Prudential Regulation Authority published the rules Tuesday, …
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 …
UK regulators need to widen stress tests for insurers to show how the whole industry, including themselves, would respond to an event on the scale of the 9/11 attacks, Hiscox Ltd. said. Unless the Prudential Regulation Authority, or PRA, can …
UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …
Staff have been quitting Britain’s financial watchdogs at nearly twice the rate since they were split into two bodies this year, data seen by Reuters shows, at a time when experts warn of a regulatory brain drain in Europe’s biggest …
