Unintended consequences: Tinkering with Solvency II July 8, 2016 Tinkering with things is in the nature of regulators. Inevitably, however, well-intentioned tinkering often delivers unintended consequences. Today, the unintended consequences of tinkering are emerging in London’s international specialty insurance market, notably following Solvency II, which specifies the amount of capital that insurance companies must hold to reduce the risk of insolvency. While the impact of the EU referendum [...]
The loss of trust and fear that we’ll lose openness are challenges business must – and can – solve July 8, 2016 The UK’s vote to leave the European Union demands strong leadership in a way few other events in our recent history have required. Since the result of the referendum, much of the language and rhetoric has verged on the sensationalist, provoking a sense of unease at a time when the country needs composure and reassurance. In [...]
SMEs and Brexit: Seeing through the uncertainty July 8, 2016 In the run-up to the referendum, we endured weeks of tension and you often heard people say they’d be glad when it was all over. Sadly it appears hopes of an end to the uncertainty are unrealistic. A post-Brexit political void has opened up. It will be weeks before we know who will lead the [...]
Clinton is off the hook over her private email. Are we right to question the role of her political celebrity? July 8, 2016 The results are in, and people are outraged. And I’m not talking about Brexit. Across the pond, a far less transparent phenomenon has occurred. After many months of anticipation, the FBI has finally recommended against charging Hillary Clinton for using a private server to host her correspondence while she was secretary of state. In legal [...]
Ukip’s march Left will create Britain’s first major populist party – and that means big business needs to look beyond the bounds of London July 8, 2016 Nigel Farage might not be every City worker’s favourite person at the moment. But the City might look back on Farage’s time as leader with fondness – because there is a real prospect that Ukip’s leadership election will herald the birth of Britain’s first truly populist party. Ex-commodities broker Farage was at heart a pro-business [...]
Would the City be better off in the long term outside the Single Market? July 8, 2016 Len Shackleton, professor of economics at the University of Buckingham, says Yes. Policies towards banks and the financial sector are largely based on ignorance, envy and spite – whatever country you’re in. But a UK outside the EU has a marginally better chance of forming sensible policy as slightly more of our politicians have at [...]
Whitehall shames itself with lack of Leave plan July 8, 2016 The Treasury is one of the three ‘great offices of state’ – dominating the machinery of government and sitting alongside the Home Office and the Foreign Office in terms of prestige, power and pedigree. Throughout all of Whitehall its patronage is yearned for and its wrath feared. Simply put, it is the nerve centre of [...]
Brexit fallout: How to survive ‘survival mode’ July 7, 2016 For a nation that prides itself on remaining calm, the past few months have brought a rollercoaster of emotion. Whether we voted for or against Brexit, many of us are still feeling bruised by the campaign and its immediate aftermath. And far from this unusual period being over, we now likely face two leadership contests and months or [...]
The Tories called this referendum – now they need to deal with the consequences July 7, 2016 How low can it go? With the pound sliding further this week, the question on many lips is where our currency will settle in this uncharted post-referendum landscape. A brief dip below $1.28 raised eyebrows during trading yesterday; and while sterling picked up later on to trade slightly above $1.29 late last night, many City [...]
I’m a transgender partner in the City and am happy to be a role model July 6, 2016 Being transgender is not a lifestyle choice. You carry this around with you the whole time. You don’t decide – it decides for you. You get to a point where you lose the fight and have to succumb. I vaguely remember the moment I lost the battle – it just dawned on me while I [...]