FCA

Reliable ESG information is increasingly important, as an estimated $33.9tn of global assets under management will consider ESG factors within three years.

Therese Chambers and Steve Smart will share the role soon to be vacated by Mark Steward.

The regulator has faced criticism over its approval times and operations, and it has since invested in extra staff.

The regulator called the descriptions of data sources used by ratings providers “particularly poor”.

The PRA’s Charlotte Gerken has set out the regulator’s initial thinking on tracking inward investment to the London market, among other measures, to implement its new economic growth duty.

In a discussion paper the regulator has highlighted good practices on sustainability-related governance and competence, as it seeks more consistency among financial firms.

The network’s report into how regulators process approvals is the latest study to unearth operational failures at the Financial Conduct Authority.

In a review of financial services firms’ D&I policies that highlighted shortcomings, the regulator said policies need to be holistic, and not generic.

Chancellor Jeremy Hunt has written to both financial regulators instructing them to consider government policy to bolster the UK’s competitiveness as a global financial centre, as part of major reforms announced today.

The regulator’s CEO and chairman issued stark warnings to MPs about regulatory intervention powers for ministers that could be inserted into a reform bill.

The Treasury is yet to clarify its plans to introduce ‘call in’ powers against regulators, or detail how regulators will be held accountable over a new growth duty.

MPs have criticised the Treasury’s move to delay the introduction of a call-in power against regulators, in a bill passing through Parliament.