Solvency II: When will the post-Brexit investment bonanza arrive? September 29, 2023 When Rishi Sunak pointed to a once obscure piece of prudential regulation during a leadership debate last year, it felt to many in the City like a watershed moment.
Bank of England lays out another round of changes to Solvency II to free up capital September 28, 2023 The Prudential Regulation Authority (PRA) has set out another round of reforms to the Solvency II regime in an attempt to unlock a wave of investment in the UK economy. The UK government set out its plans for a post-Brexit overhaul of the EU’s Solvency II rules in November last year, with a view to [...]
Culture clash: Why banks need to rid themselves of culture-by-consultancy September 26, 2023 Retail and investment banks are under scrutiny like never before - and culture is on the frontline, argues City lawyer Barnabas Reynolds
Arrested woman re-bailed until next year after Wimbledon school crash September 23, 2023 A woman arrested after a Land Rover crashed into a prep school in south-west London, killing two eight-year-old girls, has been re-bailed until January. Nuria Sajjad and Selena Lau died after a car crashed through a fence and collided with a building at The Study Prep school in Camp Road, Wimbledon, on the morning of [...]
FCA warns insurance firms to make sure they are offering fair value September 20, 2023 The City regulator has given firms producing a type of add-on insurance to motor cover an ultimatum to demonstrate they are providing fair value.
PRA hits back at claims it has been ‘captured’ by insurance sector September 13, 2023 The head of the banking and insurance regulator today rebuffed accusations that it had been "captured" by the insurance industry as it considers major reforms to the sector.
Direct Line agrees to major review after overcharging customers £30m September 1, 2023 Direct Line has agreed to a major review of pay redress to customers today after admitting an error in the calculation of new insurance rules meant it overcharged customers by some £30m.
Compensation cap for severe weather power loss upped from £700 to £2,000 as ‘lessons learned’ by Ofgem September 1, 2023 The compensation cap for households and businesses that lose power in severe weather has increased from £700 to £2,000 after “lessons learnt” in the aftermath of Storm Arwen. Under Ofgem’s new rules, the initial payment will also increase, from £70 to £80, if a customer’s supply is not restored after 24 hours in a category [...]
Businessman guilty of plotting two bombs in London over £1.4m legal wrangle with NCA August 18, 2023 A businessman suspected of being involved in an international money-laundering ring has been found guilty of orchestrating a bomb plot against lawyers for Britain’s FBI in a row over £1.4 million. Jonathan Nuttall, 50, was convicted of conspiring with his driver, Michael Sode, and an ex-marine, Michael Broddle, to plant two devices in London’s legal [...]
How did a man who brought a GUN from Mexico City to London via Paris have his prison sentence completely overturned? August 17, 2023 In an "extraordinary" case, a man who was jailed after a gun was found in his suitcase at Heathrow Airport is to be released from prison after winning an appeal.