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Insurance UK

  • July 14, 2017

    FCA Fines Compliance Officer For Pension Transfer Failings

    Britain’s finance watchdog has fined a compliance specialist at two wealth management firms for putting investors at risk of losses because of failings which led to a "serious risk" that unsuitable advice would be given over the transfer of defined benefit pension schemes.

  • July 13, 2017

    Law Society Taps BLM Partner To Name Job Injury Specialists

    The Law Society of England and Wales for the first time will formally name specialists in the field of occupational disease, tapping a partner at insurance law firm BLM LLP who spearheaded the accreditation proposal to serve as chief assessor, BLM said Wednesday.

  • July 13, 2017

    Baker McKenzie Nabs Ex-Linklaters COO For London Office

    Global law firm Baker McKenzie has hired a former global chief operating officer at rival Linklaters LLP as its COO in its London office, the firm has announced.

  • July 13, 2017

    ESMA Weighs Tougher MiFID Robo-Advice Client Protections

    Rules forcing investment firms to act in the best interest of their clients will be widened to consider the increasing use of automated advice in the advisory market, under draft guidelines published Thursday by the European Securities and Markets Authority.

  • July 13, 2017

    City Ready For Fight As Gov't Publishes EU Repeal Bill

    The U.K. government published its historic bill to convert European regulation into British law on Thursday, taking a big step toward Brexit and prompting London’s finance and insurance sectors to say they will step up lobbying to ensure their voice is heard throughout the complex legislative process.

  • July 13, 2017

    Industry Heaps Pressure On EU Over Complex Data Rules

    Europe’s financial and insurance industries urged the European Commission on Thursday to explain how it will enforce its looming data rulebook from May 2018, and demanded a much greater voice in preparations for the complex regulations.

  • July 13, 2017

    UK Industry Challenges FCA Findings On Pension Reforms

    The U.K.’s top insurance lobby has challenged claims by the Financial Conduct Authority that dipping into pension savings early has become the “new norm” after radical reforms were introduced in April 2015.

  • July 13, 2017

    UK Details Negotiating Position On ECJ Cases After Brexit

    The U.K. will negotiate with Brussels over which cases still pending before Europe’s top court should continue beyond day one of Brexit as Britain pushes to minimize disruption to banks and businesses, the government said on Thursday.

  • July 13, 2017

    Nicky Morgan Named First Female Chair Of UK Treasury Panel

    Former lawyer Nicky Morgan has become the first female politician to be elected chair of an influential parliamentary panel responsible for holding Britain’s financial bodies and regulators to account, following a late announcement on Wednesday.

  • July 12, 2017

    UK Same-Sex Pensions Victory Poised To Hike Scheme Costs

    While the U.K. Supreme Court’s ruling granting breakthrough new pension rights is a victory for same-sex partners, attorneys say the decision has some pension schemes worried about the increased costs — while others wonder if the judgment will even survive Brexit.

  • July 12, 2017

    UK Court Of Appeal Strengthens Whistleblowing Criteria

    The U.K. Court of Appeal has made clear that whistleblowers can expect protection under the law even if the public interest of their disclosures extends only as far as other work colleagues, in a ruling that comes at a time when governments are working toward strengthening whistleblower rules.

  • July 12, 2017

    Bank Of England Weighs Widening Stress Tests To Nonbanks

    The Bank of England expressed concern Wednesday that Europe’s overstretched corporate bond market may not hold up under a market shock, and it has run a simulation stress test to determine how well this part of the nonbank financial sector would respond.

  • July 12, 2017

    FCA Eyes Intervention To Rebalance Pensions Funds Market

    The Financial Conduct Authority warned on Wednesday that it could be forced to intervene in Britain’s multibillion-pound retirement income market after a report by the finance watchdog revealed more people are raiding their pension pots without taking advice.

  • July 12, 2017

    Insurers Tell UK Gov't How To Fix Contentious Discount Rate

    Britain’s top insurance lobby set out plans Wednesday for a new framework for setting the controversial discount rate used to assess compensation for serious personal injuries, which has saddled firms with millions in extra costs after a recent change.

  • July 12, 2017

    Top Capital Markets Lobby Warns On Brexit Contract Risks

    Significant legal uncertainty surrounds crossborder financial contracts between market participants in the U.K. and the EU that were written before Brexit but which mature afterward, the leading global capital market lobby group said on Wednesday.

  • July 12, 2017

    Divorce Bill Row Could Derail Talks, EU Brexit Chief Says

    The European Union’s chief Brexit negotiator said on Wednesday that talks over Britain’s withdrawal from the bloc could be derailed by an escalating row over Britain’s controversial divorce payments, jeopardizing the position of London’s financial services sector in the future.

  • July 12, 2017

    Top UK Court Grants Equal Pension Rights To Gay Couple

    The U.K. Supreme Court ruled on Wednesday that a gay man could continue to receive his husband’s occupational pension payments after the partner’s death, in a closely watched equality ruling that could dramatically expand the liabilities of insurance companies.

  • July 11, 2017

    FCA Ramp-Up Risks Cooling City Investment By Financial Firms

    The U.K. Financial Conduct Authority’s aggressive pursuit of enforcement investigations amid Brexit negotiations has unsettled City talent and may even deter investment, top white collar attorneys warn, risking further damage to London’s future as a financial center.

  • July 11, 2017

    Insurers Maneuver To Dodge Huge Compensation Claims

    U.K. reforms to the way personal injury compensation is calculated are changing the way firms approach claims, lawyers say, as insurers explore out-of-court agreements and annual payments to avoid massive one-off settlements.

  • July 11, 2017

    Lawmakers Push EU To Commit To Panama Papers Reforms

    European Union lawmakers investigating the Panama Papers tax evasion scandal on Monday heaped pressure on the bloc’s officials to stamp out practices of money laundering, tax evasion and avoidance.