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In a speech last night, the PRA CEO issued the regulator’s latest warning to MPs about regulatory reforms. -
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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Senior officials from the UK Treasury and Prudential Regulation Authority agreed measures with US Treasury officials to ensure transatlantic access to reinsurance is opened up.
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The ratings agency cited the impact of inflation on P&C underwriting profitability and expects a deterioration in P&C carriers’ combined ratios.
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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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The regulator has seen various levels of embedding climate risk management processes among insurers and banks, and called for more progress by “all firms”.
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The failings occurred during the period between September 2014 and December 2019.
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The opportunity to set in statute meaningful powers and metrics to hold financial regulators accountable will reach a tipping point in the coming weeks, as the Financial Services and Markets Bill progresses through the next parliamentary stages.
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The watchdog is seeking views on topics such as where there are barriers to the safe and widespread adoption of AI.
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The regulator is now reviewing a voluntary objective to determine 85% of approved person applications in five days.
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Darren Lednor will become managing agent, while Mark Pickett will be active underwriter.
