Search Results for: Insurance Authority
FCA has fined Towergate and former director for more £2m
July 13th, 2016
The Financial Conduct Authority (FCA) has today fined Towergate Underwriting Group Limited (Towergate) £2,632,000 for failings in relation to its protection of client and insurer money. Towergate, an insurance intermediary which holds both client and insurer money, accumulated a ...
Bank of England published Financial Stability Report
July 5th, 2016
It is the statutory responsibility of the Financial Policy Committee (FPC) to identify, monitor and take action to remove or reduce systemic risks, with a view to protecting and enhancing the resilience of the UK financial system. By fulfilling ...
Malta’s financial services sector continued to expand in 2015
June 9th, 2016
Malta’s financial services sector continued to expand in terms of size, reputation and attractiveness in 2015, backed by a resilient regulatory framework, prudential supervision, consumer protection, and strong money laundering prevention mechanisms. New licences, issued during 2015, were registered most notably in ...
Even gold is not as secure as un-hackable Bitcoin currency – Bitcoin Foundation CEO
May 17th, 2016
The Bitcoin system is said to be reaching its capacity limits – spelling a possible disaster for thousands of those who decided to invest in the world’s top cryptocurrency. One of the leading programists from the company quits it, ...
International law firm takes advantage of market liberalisation to enter JV in Malaysia
April 19th, 2016
DAC Beachcroft is the latest firm to take advantage of market liberalisation in Asia, applying for a joint venture (JV) licence with Malaysian association firm Gan Partnership. According to Gan Khong Aik, a partner at Gan Partnership, the two firms have ...
Bridgepoint and Summit Partners acquire financial software company Calypso Technology
April 19th, 2016
Calypso Technology, Inc. (‘Calypso’), a leading provider of capital markets software, announced today that it is to be acquired by European private equity fund Bridgepoint and global growth equity investor Summit Partners. The acquisition will support Calypso’s next phase ...
Emerging Currencies Halt Rally as Singapore Flags Growth Risks
April 14th, 2016
Malaysian ringgit leads declines after Singapore eases policy Won sinks on Korean election shock as dollar extends advance Emerging-market currencies fell for the first time in six days as Singapore surprised markets by easing monetary policy, spurring speculation other ...
Overall complaints fell by 1.4%, driven by a reduction in complaints related to current accounts and savings accounts. PPI complaints rise
March 31st, 2016
Financial services firms received 2.11 million new complaints between July and December 2015, according to new complaints data published today by the Financial Conduct Authority. Overall, there was a decrease of 1.4% in the number of complaints compared to ...
New accountability regime for banks and insurers comes into force
March 8th, 2016
The Senior Managers Regime for the banking sector and the Senior Insurance Managers Regime both come into force today. The new regimes will hold individuals working at all levels within relevant firms to appropriate standards of conduct and ensure ...
FCA targets six life insurers over fees
March 3rd, 2016
Britain’s financial watchdog is investigating six insurance firms including Prudential (PRU.L) and Old Mutual (OML.L) over their treatment of long-time life insurance customers. The other firms involved were Abbey Life, Scottish Widows, Countrywide and Police Mutual, the Financial Conduct ...
