PRA

The regulator has set out priorities for monitoring climate risks for the financial system and how it will address climate-related gaps in the regulatory regime.

The regulatory reform will require the PRA to change the shape of what the directorate does, according to BoE’s Sam Woods.

The regulator will propose quantitative metrics that Parliament could use to hold the regulator accountable for achieving a new growth objective.

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.

The regulator made the comments in correspondence with MPs amid ongoing discussion on Solvency II reform.

The UK Treasury has set out proposals for a new resolution regime that would be triggered when insurers are on the verge of insolvency.

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

The regulator has implemented several changes, which it says will increase UK competitiveness and bolster participation in the UK’s ILS market.

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

The government will consult in Q1 2023 on pulling ESG ratings providers into the FCA’s perimeter.

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 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.