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United Kingdom

Huw Jones

Regulators plot path for cross-border payments to counter Facebook

13 Jul 2020

LONDON Streamlining anti-money laundering checks, longer central bank opening hours and linking national systems would cut cross-border payment costs, global regulators said on Monday.

British finance proposes repackaging state-backed coronavirus loans

10 Jul 2020

LONDON Britain's financial sector is proposing the repackaging of some 35 billion pounds ($44 billion) of state-backed coronavirus corporate relief loans to ensure taxpayers do not foot the bill.

UK watchdog seeks record fine for Deloitte audit of Autonomy

09 Jul 2020

LONDON Deloitte should be fined a record 15 million pounds ($19 million) for "serious and serial failings" in its audit of technology company Autonomy, a lawyer for Britain's accounting watchdog told an independent tribunal on Thursday.

EU to grant temporary market access for UK derivatives clearers

09 Jul 2020

LONDON The London Stock Exchange and other derivatives clearing houses in Britain will be granted temporary access to the European Union from January 2021, the bloc's executive European Commission said on Thursday.

Regulators urge big push to ditch Libor by end 2021

09 Jul 2020

LONDON Global financial regulators set out recommendations on Thursday for coordinating and speeding up preparations to scrap Libor, an interest rate benchmark banks were fined billions of dollars for trying to rig.

City of London seeks confidence in transport to refill offices

09 Jul 2020

LONDON Workers in the City of London need to have greater confidence that travelling on the capital's public transport system is safe before they will return to their offices amid "mixed messages" from officials, financial industry representatives said.

Britain signals end to daily redemptions for property funds

09 Jul 2020

LONDON Funds that offer daily redemptions to investors may have to restructure to better reflect the time it takes to sell illiquid assets like property, Britain's Financial Conduct Authority said on Wednesday.

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