HRH The Princess Royal, opens Opportunity Bank in Uganda December 12, 2022 | Sponsored City PM has been a long standing partner of Opportunity International – a brilliant charity that helps people all over the world to build and sustain independent, prosperous lives by providing them with access to financial services and training. In October this year, Opportunity International UK’s Patron, HRH The Princess Royal, visited one of their [...]
Metro Bank fined £10m by FCA for publishing incorrect information December 12, 2022 Metro Bank has been slapped with a £10m fine for publishing incorrect information to investors, while two of its former executives have received a warning. The lender was told to pay up by the Financial Conduct Authority for breaching rules, while its ex chief executive and chief financial officer were given fines also. The original [...]
City minister says ‘world’s moved on’ from post-2008 financial services reforms December 11, 2022 City minister Andrew Griffith has said “the world’s moved on” since the 2008 global financial crisis in an attempt to calm concerns about the easing of the UK’s bank ring-fencing regime. Griffith told City PM that the regulation, which will be relaxed as a part of newly announced post-Brexit reforms, was acting as “an impediment” on some [...]
Big Bang 2.0: Financial institutions welcome Jeremy Hunt’s Edinburgh reforms December 10, 2022 Leading financial institutions have welcomed Chancellor Jeremy Hunt’s Edinburgh reforms, which set out to “turbocharge” the UK’s growth. Announced yesterday, the plans aim to “seize the benefits of Brexit” by delivering the biggest shake-up in the financial sector for 30 years. According to UK Finance’s chief executive David Postings, the package is “a major step [...]
Post-Brexit reforms: Hunt aims to ‘turbocharge’ economy with biggest banking shake-up in 30 years December 9, 2022 Chancellor Jeremy Hunt has unveiled plans to “turbocharge growth” with the biggest shake-up in banking reforms for three decades. His so-called Edinburgh reforms announced this morning seek to “seize the benefits of Brexit” by cutting EU red tape for the financial sector. The new measures build on the government’s Mansion House 2021 package, with a [...]
Regime shift: investing into the new era December 9, 2022 | City Talk As this economic cycle ends, we shouldn’t expect to see the patterns of the past decade repeated. A new regime in policy and market behaviour is unfolding which investors need to understand if they are to find the best opportunities and safeguard their portfolios. The re-opening of economies after Covid sparked a phenomenon investors have [...]
Santander slapped with £108m fine by FCA for anti-money laundering failures December 9, 2022 Santander has been fined more than £107m by the Financial Conduct Authority for anti-money laundering failures. The banking giant will have to pay £107,793,300 to the watchdog after it was found to have “serious and persistent gaps” stopping the scourge. FCA found that between 31 December 2012 and 18 October 2017, it didn’t properly oversee [...]
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 [...]
Big Bang 2.0? Smart post-Brexit reforms can put power in the country’s engine December 8, 2022 It may be a transparent nod to the geographical spread of the UK’s financial services industry, but the fact the Chancellor is delivering his thesis on the country’s post-Brexit regulatory regime north of the border is worth noting. The phrase Big Bang 2.0 has been ditched – it’s now the Edinburgh Reforms – but the [...]
Incorporating business purpose into corporate social responsibility: how and why December 8, 2022 | Sponsored Consumers, candidates and society, in general, seek to live in and create a much fairer world where the organisations they purchase from or are employed by mirror their personal values and purpose. This fairer world benefits all of us – especially young people facing a rapidly changing world. More and more organisations are placing social [...]
