Regulation
Scotland's Future - the issue of redenomination
An independent Scotland might have to adopt its own currency if the rest of the UK Government declined to participate in a the Scottish Governments 'Plan A' of a Sterling zone, or would do so only if Scotland accepted onerous conditions.
Post magazine - 20 June 2013
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
LTG report could lead to further Solvency II delays says KPMG
Global Consultancy firm KPMG has cast doubt on whether the recommendations from Eiopa’s long-term guarantees assessment impact study will satisfy all parties and stave of further delays in the Solvency II schedule.
Customers paying for FSCS levies on brokers via ‘administration’ charges
Contributions to compensation scheme putting strain on brokers’ profitability.
PI firms risk being sued if they continue to undervalue serious injury claims
Claims management companies reportedly targeting under-settled claims.
Aviva grilled over ABS ambitions
Aviva has confirmed it is not in the process of applying for an alternative business structure after direct questioning by the Transport Select Committee.
Balva told to appoint liquidator following FCMC investigation
Latvia’s Financial and Capital Markets Commission has withdrawn all operating licences for insurer Balva and issued a winding up order for the Riga-based firm.
Balva ordered to wind up operations by regulator
Latvia’s Financial and Capital Markets Commission has withdrawn all operating licences for insurer Balva and issued a winding up order for the Riga-based firm.
View from the Top: The result of clarity? Confusion
Regulatory transparency is set to make headlines with the Financial Conduct Authority due to report back this month.
International: Lost in the long grass
Will the final form of Solvency II – designed to harmonise capital adequacy across the continent – look anything like it was initially intended? And when, if ever, will it emerge?
Ex-RBSI claims trio targets insurance industry with advisory firm
A group of senior claims professionals have joined forces to target the insurance sector with the aim of helping firms navigate the raft of new legislation that is reshaping the industry.
Eiopa report is key milestone in Solvency II implementation says PwC
The publication of Eiopa’s long-term guarantee report could pave the way for political agreement on Solvency II, according to PwC.
Eiopa advises policymakers to scrap counter-cyclical premium in LGT report
The European Insurance and Occupational Pensions Authority has published the findings of the Long-Term Guarantee Assessment it conducted as part of political discussions on finalisation of the Omnibus II Directive.
The Co-operative plans stock market listing
Shares in the Co-operative Bank will be available on the stock market for the first time as part of a plan to strengthen its capital position to the tine of £1.5bn.
Government urged to take action on young drivers
A range of industries are calling on the government to take decisive action to stop the tragic loss of young lives on Britain’s roads.
Tucker to leave BoE to study in the US
Bank of England’s deputy governor Paul Tucker is to leave his job ahead of his contracted term to spend “a period of time in academia” in the United States.
Gibraltar finance exec insists it has no reputational issues after recent failures
The regulation of Gibraltar’s insurance sector is “strong and robust” according to Mike Ashton, senior executive in the government's finance department.
Post magazine - 13 June 2013
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Lords: Independent body must oversee mesothelioma compensation scheme
Labour MPs criticise unfair start date that excludes half of all sufferers
FCA tells sector to change its ways in motor legal expenses insurance review
Industry reacts to recommendations including opt-in sale of MLEI cover
Editor's comment: Ringing the changes
The Financial Conduct Authority’s review of motor legal expenses insurance was given an airy response by the LEI sector.
Levene calls for clarity around Co-op's failed bid for Lloyds branches
Former Lloyd's chairman Lord Levene has called on government to confirm whether it favoured the Co-operative Bank's takeover bid of 632 Lloyds Banking Group branches over one by his own vehicle, NBNK.
Biba MLEI’s views are ‘completely aligned’ with the FCA’s
The British Insurance Brokers’ Association views on motor legal expenses insurance views are “completely aligned” with that of the Financial Conduct Authority, as laid out in a document published earlier today, according to Biba’s Graeme Trudgill.
Brit chairman Prettejohn joins PRA board
Brit Insurance chairman and former Lloyd’s chief executive Nick Prettejohn is joining the board of the Prudential Regulation Authority following approval by the Chancellor of the Exchequer.