Jonnie Peacock smiles despite failing to medal in Paralympic Games as Sherman Guity Guity claims gold
UK and EU must avoid a ‘punch-up’ over financial services, says incoming BoE governor Bailey February 12, 2020 Britain and the European Union must find a way to settle disagreements over how the UK’s finance industry can do business with the bloc without it descending into a “metaphorical punch-up”, said incoming Bank of England governor Andrew Bailey. Bailey, who is currently head of the Financial Conduct Authority, also said it would be “hard [...]
KKR denies approaching embattled NMC Health on possible offer February 11, 2020 KKR has ruled out a possible takeover of NMC Health, one day after the embattled FTSE 100 hospital operator said it had been approached by the US investment firm. NMC Health said yesterday that it had received approaches regarding potential takeover offers from KKR and GK Investment Holding, but KKR this morning denied making an [...]
London Metal Exchange under pressure to investigate nickel market February 9, 2020 The centre of metal trading in the City is under pressure to investigate the nickel market after it was hit by a supply shock late last year. Stockpiles of the commodity plunged late last year while prices hit a four-year high after Indonesia, the world’s largest nickel producer, brought forward a ban on exports. Organisations [...]
EU markets watchdog clashes with City regulator over post-Brexit trading rules February 6, 2020 The EU’s markets watchdog has asked its British counterpart to ensure that the London Metal Exchange (LME) and ICE Futures Europe fully comply with the bloc’s rules on market transparency for commodity derivatives. In the latest in a series of spats over the future relationship between EU and UK markets post-Brexit, the European Securities and [...]
EU markets watchdog offers Brexit olive branch over access to UK trading platforms February 4, 2020 The European Union’s markets watchdog is considering imposing stricter conditions on off-exchange share trading, and has also proposed making it easier for EU investors to use UK trading platforms after the Brexit transition period ends. In a consultation paper published today, The European Securities and Markets Authority (ESMA) said that EU securities rules had failed [...]
Credit card firms must cut fees for those in persistent debt, says watchdog February 3, 2020 Credit card providers must cut or stop fees for those who are caught in a cycle of persistent debt, the financial watchdog has said. In a letter to the chief executives of credit card firms this morning, the Financial Conduct Authority said lenders must come up with a repayment plan for customers who have been [...]
FCA appoints interim chief executive to replace Andrew Bailey January 24, 2020 The Financial Conduct Authority (FCA) has announced that Christopher Woolard will take over as interim chief executive of the regulator after current boss Andrew Bailey leaves to become governor of the Bank of England (BoE). Woolard, who is currently the FCA’s executive director of strategy and competition, will take over after Bailey’s departure in March, [...]
Incoming BoE head Andrew Bailey to be grilled by LCF mini-bond investigation January 23, 2020 Incoming Bank of England governor Andrew Bailey will be interviewed about his oversight of collapsed investment firm London Capital and Finance (LCF), an independent investigation said today. LCF collapsed in January 2019, leaving 11,600 investors who bought its mini-bonds facing collective losses of up to £237m. While LCF itself and its marketing material was regulated [...]
Watchdog tells financial firms to be ready in case of no-deal Brexit January 23, 2020 Financial firms in the UK should be ready in case Britain does not reach a trade deal with the European Union by December, according to a senior regulator. Britain leaves the EU next week, with “business as usual” transition period in place until December. Formal trade talks are set to begin in the coming weeks. [...]
Watchdog warns financial advisers on causing ‘significant harm’ to clients January 21, 2020 Financial advisers were ticked off by the Financial Conduct Authority (FCA) today for causing harm to consumers. In a letter to chief executives, the FCA noted a growing number of cases where firms’ actions resulted in “significant harm to consumers’ financial well-being”. It picked out four ways in which clients could be harmed: receiving unsuitable [...]