National Audit Office launches probe into FCA as regulator sizes up crypto and AI July 17, 2023 The National Audit Office (NAO) has launched a probe into the functions of the City regulator as its remit swells to take on oversight of technologies like cryptoassets and artificial intelligence.
FCA chief: AI could disrupt financial services ‘at a scale not seen before’ July 12, 2023 The chief of the Financial Conduct Authority has said that artificial intelligence could disrupt the financial services sector in “ways and at a scale not seen before”, warning that the regulator would look to take action against AI-based scams.
Compare the Market handed £17.9m fine by competition regulator November 19, 2020 Price comparison website Compare the Market has been stung with a £17.9m fine from the regulator after breaching competition law. An investigation by the Competition and Markets Authority (CMA) concluded that the website had prevented home insurers from listing lower prices on rival comparison sites between December 2015 and December 2017. Compare the Market had [...]
Hunt to unveil post-Brexit Big Bang 2.0 for UK financial services industry December 8, 2022 Jeremy Hunt will finally unveil the government’s plans to shred EU financial services laws today as he proposes a package to boost the City’s global competitiveness post-Brexit. Hunt will deliver the landmark announcement in Edinburgh this morning, with the chancellor set to drop Solvency II capital requirements on insurance firms and ease current bank ring-fencing [...]
EMEA M&A Outlook: Optimism and Opportunity January 15, 2024 M&A in the EMEA region seemed to have bottomed out in Q1 2023 and H2 slowed after a bustling Q2. But the outlook remains relatively optimistic and opportunities appear to be out there for dealmakers this year. Factors affecting M&A The past year saw multiple interest rate hikes, and the European Central Bank’s (ECB) efforts [...]
UK competition watchdog launches probe into O2-Virgin Media merger November 19, 2020 The UK competition watchdog has opened an investigation into the planned £31bn mega-merger between O2 and Virgin Media after the deal was referred from the EU. The Competition and Markets Authority (CMA) last month requested to take over the case, arguing the potential impact on competition would primarily affect the UK market. The watchdog has [...]
City firms feel the pinch as FCA ramps up action July 20, 2023 The Financial Conduct Authority has tightened the screws on City firms over the past 12 months as it shut off nearly 30 per cent more companies than the previous year.
What is the future of financial services regulation? June 7, 2023 Lord Holmes of Richmond emphasises the importance of the Financial Services and Markets Bill currently going through the House of Lords.
London Stock Exchange boss: Listing rules shake-up is just ‘one part’ of required reform December 20, 2023 The Financial Conduct Authority is taking “decisive steps” to overhaul London’s listing regime but tweaking the rules is just "one part" of the reform need for UK capital markets, the London Stock Exchange chief has warned.
Exclusive: City bosses eye up strong first quarter but warn of threats to UK competitiveness January 3, 2024 Financial services bosses are optimistic about their first-quarter results but say economic and regulatory pressures threaten Britain's competitiveness, according to a survey of 160 senior executives shared with City A.M., as London struggles with a dealmaking slump.