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Insurance UK

  • July 25, 2017

    Pensions Firm Exits Approval List Amid Regulatory Concerns

    U.K. workplace pensions provider NOW: Pensions said it has withdrawn itself from a voluntary assurance list operated by the industry watchdog after it raised concerns about the firm’s administration and governance.

  • July 25, 2017

    FCA Warns UK Firms On Late MiFID II Waivers

    Britain’s finance watchdog on Tuesday warned firms that have missed the deadline to submit crucial information for compliance with European Union reforms to investment services across the bloc’s banking system that they must have contingency plans in place.

  • July 24, 2017

    UK Boosts Cross-Border Fraud Cooperation With EU, For Now

    British legislation entering into force on Monday cements the right of European Union authorities to demand the execution of cross-border criminal investigation requests, even as legal experts question whether the pioneering enforcement law will survive the U.K.'s exit from the EU.

  • July 24, 2017

    Reed Smith Adds Accountancy Disputes Partner In London

    Reed Smith LLP has bolstered its commercial disputes team in London with the hiring of a former Gowling WLG partner who specialized in handling disputes for major accountancy firms, the law firm said on Monday.

  • July 24, 2017

    Britain Seeks Way To Keep EU Access For Banks After Brexit

    U.K. lawmakers launched an inquiry Monday into how Britain’s financial services industry could maintain access to the European Union after the country leaves the bloc in March 2019.

  • July 24, 2017

    FCA Lays Out Approach For New EU Insurance Selling Rules

    Britain’s financial watchdog set out on Monday how it will implement new European Union rules governing the sale of insurance products to consumers that will impose additional reporting, conduct and governance requirements on firms and brokers when they enter into force next year.

  • July 24, 2017

    Insurer Aviva Reveals Start-Up Investments In Fintech Move

    U.K. insurer Aviva PLC announced on Monday the first five new firms it will support in its joint financial technology program with a "start-up accelerator," in a project to help exploit the technologies that will revolutionize insurance and financial services.

  • July 21, 2017

    ABI Says Latest Insurance Capital Regime Unfit For UK Market

    After a global regulatory forum announced tentative new capital requirements for the world’s biggest insurance groups on Friday, the U.K.’s leading trade association quickly raised concerns about the impact of this latest regulatory package, dismissing it as unfit for purpose.

  • July 21, 2017

    City Lobbies Push For Brexit 'Visas' As Ministers Hold Talks

    New City minister Stephen Barclay is to meet government immigration chiefs in the coming days to plead the case for foreign employees in London’s financial services sector to be given protected status, the Treasury confirmed to Law360 on Friday.

  • July 21, 2017

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen an arbitration dispute between ICBC Standard Bank and a Russo-Mongolian mining venture, Barents Re's suit against PDV Insurance, and a financial services spat between Walker Crips brokerage and ADM's U.K. investment services unit. Here, Law360 looks at those and other new claims in the U.K.

  • July 21, 2017

    First Female President For UK Supreme Court Announced

    The U.K. government announced on Friday that Lady Brenda Hale has been appointed the new president of the Supreme Court, making her the first female to fill the position of the U.K.’s most senior judge.

  • July 21, 2017

    FCA Announces New Rules For Pension Scheme Reports

    The U.K. Financial Conduct Authority announced fresh reporting rules for pension providers on Friday that will help the regulator identify risks emerging from radical reforms introduced in April 2015.

  • July 21, 2017

    UK Watchdog Agrees Supervisory MOU With Hong Kong Regulator

    Britain’s Financial Conduct Authority and Hong Kong’s Securities and Futures Commission have agreed to assist each other in the supervision and oversight of regulated firms in their respective jurisdictions, under a supervisory memorandum of understanding published on Thursday.

  • July 21, 2017

    PRA Approves AIG's Bespoke Capital Buffer Model

    AIG Europe Ltd. has won backing from the U.K.’s Prudential Regulation Authority to use its own unique model to calculate some of the group's capital requirements under Solvency II, the insurer has said.

  • July 20, 2017

    39 Essex Chambers Snags CEO From Matrix

    The CEO of Matrix Chambers will be making the move to 39 Essex Chambers as the barristers set's new chief executive, it was announced Wednesday.

  • July 20, 2017

    Fenchurch Snags RPC Atty For Insurance Claims Team

    Specialist insurance solicitors Fenchurch Law announced the hiring of Tom Hunter from Reynolds Porter Chamberlin, further expanding its team of specialist claims dispute lawyers.

  • July 20, 2017

    UK Sets Out New Framework For Insurance-Tied Securities

    The U.K. Treasury released details Thursday of a new regulatory and tax regime to help Britain break into the surging global trade in insurance-linked securities, which could be worth £87 billion ($113 billion) by 2019.

  • July 20, 2017

    SFO Cautions Of Brexit Threat To Corruption Probes

    Britain’s fraud squad warned Brexit could threaten its ability to chase down corruption and international crimes, in its annual report laid before Parliament late Wednesday.

  • July 20, 2017

    EU Official Sees Brexit Transition Period Of 'A Few Years'

    The European Union's top Brexit negotiator foresees a transition period of "a few years" to allow a new economic and trading relationship to be sealed after the U.K. leaves the EU in March 2019, according to minutes of his meeting with British lawmakers released by the House of Lords on Thursday.

  • July 20, 2017

    UK Pledges To Help Developing World Set Insurance Rules

    The U.K. government has earmarked £30 million ($39 million) for a project that will help poorer countries draft regulation to support domestic insurance markets, a spokeswoman said on Thursday.