FCA
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The fine relates to a breach that took place in 2017, where hackers were able to access the data of 13.8 million UK consumers.
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The test will involve simulating a sequential set of adverse events over a short period of time, the watchdog said.
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New data on the FCA's operational performance shows improvements in some aspects, though response rates are still slow on senior appointment casework.
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Reforms to the UK listing regime may enhance prospects of an insurance firm opting to IPO in London in future, but several broader problems, including liquidity issues, will also affect such a decision, according to industry sources.
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Sean McGovern, chair of the London Market Group, outlined why it is critical for the trade body’s outreach programme to build the market’s talent pipeline and attract data science expertise.
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The FCA wants streamline listing rules in the UK to attract a wider range of companies to IPO in London.
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The authority will be investing £12.7mn to implement regulatory reforms that will see it focus on economic growth as a secondary objective.
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Reliable ESG information is increasingly important, as an estimated $33.9tn of global assets under management will consider ESG factors within three years.
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Therese Chambers and Steve Smart will share the role soon to be vacated by Mark Steward.
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The regulator has faced criticism over its approval times and operations, and it has since invested in extra staff.
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The regulator called the descriptions of data sources used by ratings providers “particularly poor”.
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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.
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In a discussion paper the regulator has highlighted good practices on sustainability-related governance and competence, as it seeks more consistency among financial firms.
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The network’s report into how regulators process approvals is the latest study to unearth operational failures at the Financial Conduct Authority.
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In a review of financial services firms’ D&I policies that highlighted shortcomings, the regulator said policies need to be holistic, and not generic.
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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.
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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.
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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.
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MPs have criticised the Treasury’s move to delay the introduction of a call-in power against regulators, in a bill passing through Parliament.
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In a speech last night, the PRA CEO issued the regulator’s latest warning to MPs about regulatory reforms.
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After the new Cabinet was formed and ministerial appointments announced, Andrew Griffith has retained a portfolio that includes financial services regulation.
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Nikhil Rathi plans to address in a speech tonight regulatory reforms in the Financial Services and Markets Bill, now being debated in Parliament.
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The regulator has set out how tech companies such as Amazon and Apple may expand in UK financial services through M&A and other means.
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Mark Steward has worked at the FCA since 2015, leading the charge on some of the regulator’s most high-profile cases.
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