The U.K. and the European Union need to take “early action” and reach an agreement that will allow existing cross-border financial contracts totalling €1.3 trillion ($1.57 trillion) to run to maturity after Brexit, two of Europe’s biggest banking lobby groups urged on Friday.
BMS Group Ltd. has become one of latest insurers looking to Europe to dodge Brexit upheaval, though is bucking the trend by picking Spain over Luxembourg or Belgium.
Eversheds Sutherland will open three new offices across Europe this week offering a range of corporate finance and funds practice areas, with hires from Simmons & Simmons LLP and Nordic law firm Hannes Snellman.
Orrick Herrington & Sutcliffe LLP has launched ambitious new software to help companies test their readiness for when the European Union’s formidable new data rules take force next May.
The chief Brexit negotiator for the European Union said Thursday he is "very disappointed" by the U.K.’s reversal on its budget commitments for the bloc, in another warning that if the settlement impasse isn’t solved, talks won’t move forward to a future trade deal in October as planned.
The U.K. government bowed to months of fierce pressure from the insurance industry on Thursday and announced plans to reform the way courts calculate compensation for personal injury.
The U.K.’s chief Brexit negotiator said Thursday the British government wants a transitional market-access arrangement with the European Union that is “as close as possible” to the current situation for financial services and other businesses, and is prepared to meet EU representatives as frequently as required to reach a deal before the U.K. leaves the bloc.
The U.K. Financial Conduct Authority has closed its investigation into whether Police Mutual treated longstanding customers fairly but will continue related probes into five major insurers, the regulator said Thursday.
London’s financial technology firms are fretting about the ability to hire staff when the U.K. leaves the European Union, a government-sanctioned survey revealed Thursday.
The U.K.’s Financial Services Compensation Scheme has widened the criteria for investors eligible to make a claim against their financial advisers over failed Harlequin investments, beyond the negligent mortgage advice and pension switching the fund has already been paying out for the past few years.
Insurance regulators could choose to lower firms’ capital ratios after viewing their first detailed reports under the European Union’s Solvency II regime, a major ratings agency has said.
Tokio Marine Holdings Inc. is setting up a new company in Luxembourg to ensure it can keep trading in the European Union after Brexit, the Japanese insurance giant said on Wednesday.
International insurance regulators will force unachievable demands on smaller firms unless they ease off on proposed monitoring duties for senior management, a leading lobby group said on Wednesday.
London’s financial services sector would be “significantly harmed” by a government proposal to sharply curb the intake of European Union workers after Brexit, the City’s policy chiefs told Law360 on Wednesday.
Global regulators risk introducing unfair advantages by forcing cross-border insurance brokers to meet tougher standards than their local counterparts, a leading international trade group has said.
The Basel Committee on Banking Supervision said on Tuesday that it has signed an agreement with the body that develops international financial reporting standards, in a move to strengthen cooperation between the two authorities.
Complaints to the U.K. Financial Ombudsman Service shot up 13 percent to 170,000 in the first half of 2017, with more than half about payment protection insurance, new data showed on Tuesday.
The upper chamber of the European Court of Human Rights ruled Tuesday that a Romanian company violated an individual’s right to privacy when it monitored his computer activity almost a decade ago, overturning a 2016 judgment that backed the firm’s actions.
Members of the European Parliament are worried about the U.K.’s position on paying the bill for leaving the European Union, a rapidly emerging obstacle to progress in Brexit negotiations, the Parliament said on Tuesday.
Willis Towers Watson has hired a senior regulatory expert from Accenture PLC to develop software to help insurers report information to watchdogs, the international broker said on Tuesday.