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.
Bank of England lays out another round of changes to Solvency II to free up capital September 28, 2023 The Prudential Regulation Authority (PRA) has set out another round of reforms to the Solvency II regime in an attempt to unlock a wave of investment in the UK economy. The UK government set out its plans for a post-Brexit overhaul of the EU’s Solvency II rules in November last year, with a view to [...]
Bank of England delays final Basel bank capital rules to July 2025 September 27, 2023 The Bank of England on Wednesday said it would delay by six months to July 2025 its roll out of the final leg of international bank capital rules that began after the global financial crisis over a decade ago.
City firms’ regulatory burden rises as UK and EU diverge on financial rules September 27, 2023 City firms face an increasing regulatory burden as the UK and the EU begin to diverge on financial services regulation.
Bank of England set to delay bringing in Basel overhaul of banking rules September 25, 2023 The Bank of England is planning to push back implementation of the final round of Basel reforms by six months after receiving a deluge of industry feedback.
Sky urges UK government to cut red tape and protect creative sector September 20, 2023 Sky has urged the government to loosen its regulatory grip on the creative industry, which it believes could boost the economy by £10bn.
Water industry shake-up: Ministers accused of ‘deep-rooted complacency’ September 19, 2023 The government has been accused of “deep-rooted complacency” over water industry regulation in a report by the House of Lords. Peers, who reported on issues such as investment, water supply and wet wipes, have branded the government’s response to its findings one of “dismissive brevity and complacent tone”. It comes after the committee published a [...]
PRA hits back at claims it has been ‘captured’ by insurance sector September 13, 2023 The head of the banking and insurance regulator today rebuffed accusations that it had been "captured" by the insurance industry as it considers major reforms to the sector.
Government won’t create single insolvency regulator in its industry overhaul September 12, 2023 Insolvencies will not be regulated by a single body, after the government dropped plans to create a solo watchdog for the sector. Ministers had proposed setting up a single regulator of insolvency practitioners to run within the insolvency service – but have since reversed on the idea. The move comes as high street retailer Wilko [...]