Financial services firms risk shortages of compliance staff August 30, 2022 Financial services firms around the world are at risk of being hit by shortages of compliance staff due to a surge in the volume of regulatory change. According to a research published today by Thomson Reuters, while 74 per cent of financial services companies expect their regulatory burden to increase in the next year, 61 [...]
New PM must push through City reform for finance to flourish, lobby groups say August 10, 2022 The new prime minister must push through a swathe of reforms to the City if the UK is to regain its place as the “world’s foremost international centre of finance”, a top lobby group warned today.
Lloyd’s of London aims to attract billions in capital via launch of new investment vehicle August 4, 2022 Lloyd’s of London has set out plans for the launch of a new investment vehicle, with a view to drawing in billions from institutional investors. The London insurance market today announced plans to set up a second protected cell company (PCC) following the successful launch of its London Bridge Risk PCC vehicle last year. [...]
Peer2Peer Finance Awards – nominations now open! August 3, 2022 | Sponsored Peer2Peer Finance News is hosting its inaugural awards event – the Peer2Peer Finance Awards – on Tuesday 6 December 2022 at the prestigious Hurlingham Club in London. The awards will highlight the best and brightest among the peer-to-peer lending industry, including platforms and the service providers supporting them. Categories have been announced, with all awards free to enter [...]
UK’s FCA to create 100 jobs through launch of new Leeds offices August 2, 2022 The UK’s financial watchdog today set out plans to hire 100 new staff at its newly opening Leeds office as it looks to bolster its headcount this year and meet the demands of an expanding regulatory remit. The UK’s Financial Conduct Authority (FCA) announced it has signed a lease for premises on 6 Queen Street, [...]
Ex-Nationwide chairman emerges as leading contender for Bank of England watchdog role July 13, 2022 Former Nationwide chairman David Roberts has emerged as the frontrunner to lead the Bank of England's oversight board, reports Sky News.
Consulting and finance firms hire more black candidates when using anonymous ‘skills-based’ tests in the hiring process June 26, 2022 City employers are more likely to hire black candidates if they rely on anonymised, “skills-based” assessments in the hiring process, instead of more traditional interview methods, new research shows. Finance and consulting firms hired 79 per cent more black candidates when they relied on skill-based assessments, over more traditional methods such as cover letters, group [...]
City watchdog convicted just two people for insider trading in the past five years June 13, 2022 The UK’s financial watchdog achieved just two successful convictions against individuals for insider trading over the past five years, according to The Times. New data recovered from the UK’s Financial Conduct Authority (FCA) via a freedom of information (FoI) request shows the watchdog secured just two successful convictions in the five years running from [...]
Scamming spike: Three in four self-employed wealthy people have fallen victim to financial fraud June 7, 2022 Almost 75 per cent of self-employed wealthy individuals have fallen victim to financial fraud, a new study has shown. There has been 10 per cent spike in the scourge over the last six months with victims on average losing £9,000. Self-employed High-Net-Worth-Individuals (HNWI) and those with assets over £3m are most at risk, self-employed workers [...]
Restructuring specialist Begbies Traynor says results will be ‘comfortably’ ahead of expectations May 19, 2022 Corporate restructuring specialist Begbies Traynor has said it expects its upcoming financial year results will be “comfortably ahead of market expectations” and “significantly” on last year. The Manchester headquartered firm said it expects its revenues will increase 30 per cent to £109.5m and its adjusted pre-tax profits will increase 55 per cent to £17.8m, compared [...]