Leading lawyer Rachel Kent appointed by Treasury to oversee City watchdog scrutiny December 18, 2023 "The financial services regulators have a significant impact on millions of consumers and firms and it is important that they are subject to effective scrutiny," Kent said.
Bim Afolami: What does the Square Mile make of their new City minister? November 22, 2023 City grandees have urged new minister Bim Afolami to work with them on developing “competitive” regulation and improving entrepreneurship across the Square Mile.
City watchdog urges firms to link pay to consumer outcomes as bonus cap is lifted October 31, 2023 The Financial Conduct Authority (FCA) has called for firms to link executive pay to consumer outcomes as the City prepares to lift the cap on bonuses.
Rishi Sunak: UK shouldn’t ‘rush to regulate’ AI despite dossier of dangers October 26, 2023 Rishi Sunak has said the UK “shouldn’t be in a rush to regulate” the development of artificial intelligence (AI) despite a dossier of potential dangers laid out by the government. The Prime Minister made a speech on the risks and rewards of the new technology at the Royal Society this morning ahead of the UK’s [...]
New fraud rules risk a ‘flight of e-money’ firms from UK, payments chief warns October 16, 2023 Under rules set to come into force later next year, consumers will be able to receive full reimbursement for fraud. Craddock warned this would do more harm than good.
New Basel banking rules will ‘advance competitiveness,’ PRA boss argues October 16, 2023 Sam Woods, chief executive of the main banking watchdog, argued that the competitiveness of the UK financial system will be advanced through the latest round of Basel reforms.
City watchdog issued nearly 150 alerts on crypto ads in 24 hours after new regulations October 9, 2023 The City watchdog issued nearly 150 alerts on the first day of its new crypto marketing regime as unauthorised crypto firms felt the heat from the new regulations.
Solvency II: When will the post-Brexit investment bonanza arrive? September 29, 2023 When Rishi Sunak pointed to a once obscure piece of prudential regulation during a leadership debate last year, it felt to many in the City like a watershed moment.
Bank of England seeks more ammunition to deal with financial instability after LDI crisis September 28, 2023 The Bank of England is in the process of designing lending tools that allow it to lend directly to insurance firms and pension funds after the near-death experience of the LDI crisis in 2022.
Bank ring-fencing reforms to come into force in first half of 2024 September 28, 2023 The Treasury has confirmed its plans to reform the ring-fencing regime with hopes that the new regulations will go live in the first half of next year.