‘Banking as a Service’ startup Griffin raises $24M as it attains full banking license
techcrunch.com/2024/03/10/banking-as-a-service-startup-griffin-riases-24m-and-attains-full-banking-licence/
Bank of England fines HSBC £57mn over deposit protection failings: Penalty is second-largest imposed by Prudential Regulation Authority
ft.com/content/5f3d89a1-34bf-4589-959d-ec4ad04025b1
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Quick Glance: HSBC Penalized £57.4m for Deposit Protection Failures
- Inaccurate identification of eligible deposits for the UK Financial Services Compensation Scheme was noted by the Prudential Regulation Authority.
- The protection scheme covers customer deposits up to £85,000.
- Reflecting the severity of the failings, the imposed fine is the second highest on record by the regulator.
- HSBC also provided misleading evidence of compliance with certain deposit protection rules.
HSBC’s bumper UK fine is deserved, and disturbing: At first sight, HSBC’s (HSBA.L), (0005.HK) 57 million pound fine from the UK’s Prudential Regulation Authority ...
reuters.com/breakingviews/hsbcs-bumper-uk-fine-is-deserved-disturbing-2024-01-30/
Ex-Wyelands Bank CEO Fined £118,000 Over Sanjeev Gupta Ties: The Bank of England’s Prudential Regulation Authority fined the former chief executive officer of ...
bloomberg.com/news/articles/2024-01-11/ex-wyelands-bank-ceo-fined-118-000-over-sanjeev-gupta-ties
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Lighter regulation needed to attract ‘captive’ insurers to London: Calls by industry come ahead of promised UK government consultation on new regime
ft.com/content/6088854e-cbeb-4c40-ac57-8213c7453f6b
UK Banks Expected to Hold 3% More Capital Under BOE’s Basel Plan: The Bank of England outlined how it plans to impose tighter capital rules on lenders ...
bloomberg.com/news/articles/2023-12-12/uk-banks-expected-to-hold-3-more-capital-under-boe-s-basel-plan
‘Diversity makes good business sense’ says Bank of England’s Victoria Saporta: Victoria Saporta wrote about her experience in central banking and regulation ...
cityam.com/diversity-makes-good-business-sense-says-bank-of-englands-victoria-saporta/
UK Banks Call for Caution on Artificial Intelligence Regulation: Finance and technology firms have cautioned UK regulators against heavy-handed rules governing ...
bloomberg.com/news/articles/2023-10-26/uk-banks-call-for-caution-on-artificial-intelligence-regulation
Bank of England approached UK lenders to gauge interest in troubled Metro Bank, Financial Times reports
reuters.com/markets/deals/jpmorgan-chase-opted-out-bid-metro-bank-ft-2023-10-08/
Quick Glance: Bank of England seeks interest from UK lenders regarding Metro Bank
- The Bank of England reached out to major UK lenders this week to determine if they are interested in acquiring Metro Bank.
- The Bank of England and HSBC have not provided any comments.
- JPMorgan and Metro Bank have not yet responded to Reuters' inquiries.
- Metro Bank recently declined takeover offers from Shawbrook and held discussions with bondholders on Saturday regarding equity injection and debt restructuring.
Bank of England Weighs Changes to Subsidiary Rules for International Banks: The Bank of England is reviewing its rules that determine when international banks ...
bloomberg.com/news/articles/2023-10-16/boe-is-weighing-changes-to-subsidiary-rules-for-foreign-banks
Metro Bank rejected takeover approaches from rival lender Shawbrook: Metro Bank has rejected a series of takeover approaches from specialist business lender ...
cityam.com/metro-bank-rejected-takeover-approaches-from-rival-lender-shawbrook/
Metro Bank bosses summoned for meeting with City watchdogs after share price slump
cityam.com/metro-bank-bosses-summoned-for-meeting-with-city-watchdogs-after-share-price-slump/
Bank of England delays final Basel bank capital rules to July 2025: The Bank of England on Wednesday said it would delay by six months to July 2025 its roll out ...
reuters.com/world/uk/bank-england-delays-final-basel-31-policies-by-six-months-july-2025-2023-09-27/
UK Sets Out Measures to Ease Capital Burden on Life Insurers: The Bank of England is proposing to increase the flexibility of a mechanism life insurers use to ...
bloomberg.com/news/articles/2023-09-28/uk-sets-out-measures-to-ease-capital-burden-on-life-insurers
Credit Suisse hit with record £87m fine by UK bank regulator for Archegos failings
cityam.com/credit-suisse-hit-with-record-87m-fine-by-uk-bank-regulator-for-archegos-failings/
UBS to Pay $387 Million in Credit Suisse-Linked Archegos Fines: UBS Group AG will pay a total of about $387 million in fines related to misconduct by Credit ...
bloomberg.com/news/articles/2023-07-24/ubs-paying-269-million-us-fine-for-credit-suisse-archegos-saga
Why British banking regulations have global banks worried: Banks are bracing for tougher requirements on operating subsidiaries in the U.K ...
americanbanker.com/news/why-british-banking-regulations-have-global-banks-worried
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Revolut Founders Criticize UK, Say Won’t Consider London IPO: Revolut’s co-founders have launched a blistering attack on the UK as a place to run a business ...
bloomberg.com/news/articles/2023-05-05/revolut-founders-criticize-uk-say-won-t-consider-london-ipo
UK Seeks Ideas on How Financial Regulators Can Boost Growth: The UK is raising pressure on financial regulators to do more to boost growth ...
bloomberg.com/news/articles/2023-05-08/uk-seeks-ideas-on-how-financial-regulators-can-boost-growth
City braces for tighter regulation after banking turmoil : The failures of SVB and Credit Suisse could pause plans to water down post-crisis rules
ft.com/content/7263cf7a-24f7-4ba8-a624-cccacc4d68a8
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UK banks more resilient than before the 2008 crisis but we must be ‘vigilant’ Chancellor warns
inews.co.uk/news/business/uk-banks-are-more-resilient-than-before-the-2008-financial-crisis-but-we-must-be-vigilantchancellor-warns-2225005
Former TSB executive fined for IT fiasco resulting in payments meltdown for customers
inews.co.uk/news/business/former-tsb-executive-fined-for-it-fiasco-resulting-in-payments-meltdown-for-customers-2274280
Nigeria's Tinubu defends win in disputed presidential vote: Nigeria's new president-elect, Bola Tinubu, defended the election he just won as credible on ...
reuters.com/world/africa/nigerias-tinubu-defends-win-disputed-presidential-poll-2023-03-01/
Quick Glance: BREAKING: Tinubu promises Nigerians, "I'll be your servant."
- "I will work with you and make Nigeria a great country," Tinubu said shortly after being declared the winner of the presidential election at the APC Presidential Campaign Council headquarters in Abuja.
- "I promise to work with you," Tinubu said during his acceptance speech in Abuja.
- According to the PUNCH, the Independent National Electoral Commission declared Tinubu, the APC presidential candidate in Saturday's election, as the president-elect in the early hours of Wednesday.
- Tinubu defeated other candidates, including the Peoples Democratic Party's Atiku Abubakar, the Labour Party's Peter Obi, and the New Nigeria Peoples Party's Rabiu Kwankwaso.
Accountability holds the key to improved UK financial regulation: Parliament should back an initiative to set up an office to measure the performance of ...
ft.com/content/2affbe4b-dc6e-4e0d-ab92-13244ac8616a
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Why have UK banks been insulated from US panic? Regulation, regulation, regulation
cityam.com/regulation-why-have-uk-banks-been-safe-from-us-style-panic/
UK regulator looks to improve liquidity rules for £11tn asset management sector: Financial Conduct Authority’s post-Brexit review of regulations follows blow-up ...
ft.com/content/9416d4b4-1df0-431e-8065-d7ff7af4a30b
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UBS seeks $6-billion in government guarantees for Credit Suisse takeover: It would reportedly cover the cost of winding down parts of Credit Suisse and potential ...
theglobeandmail.com/business/article-us-authorities-weighing-in-on-possible-credit-suisse-ubs-deal-media/
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BoE warns insurers over ability to sell down assets in a crisis: Prudential Regulation Authority’s stress test of 16 insurers finds their assumptions ‘too ...
ft.com/content/4c27d591-ed41-4a2b-bcd8-afb17f77ce2e
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Met Police renew appeal to find Constance Marten and Mark Gordon: A renewed appeal to help find Constance Marten and Mark Gordon has been issued by the ...
theargus.co.uk/news/23348001.met-police-renew-appeal-find-constance-marten-mark-gordon/
Martin Lewis shares warning for anyone who has an email address: Fans of the Money Saving Expert are being targeted under false pretences
liverpoolecho.co.uk/news/uk-world-news/martin-lewis-shares-warning-anyone-26204171
UK’s National Cyber Security Center Also Looking Into ION Hack: The National Cyber Security Center, part of UK intelligence agency Government Communications ...
bloomberg.com/news/articles/2023-02-03/uk-s-national-cyber-security-center-also-looking-into-ion-hack
UK Regulators Start Investigation Into ION Cyberattack: UK regulators have started an investigation following a cyberattack on London-based ION Trading UK that’s ...
bloomberg.com/news/articles/2023-02-01/ion-signals-to-firms-cyberattack-may-take-2-3-days-to-resolve
Chris Woolard on BNPL, regulatory run-ins and getting financial rulemaking right: The regulatory veteran wants a rulebook for the 21st century, but getting it ...
cityam.com/chris-woolard-on-bnpl-regulatory-run-ins-and-getting-financial-rulemaking-right/
Insurers falling short in modelling cyber and natural catastrophe risks, Bank of England warns
cityam.com/insurers-falling-short-in-modelling-cyber-and-natural-catastrophe-risks-bank-of-england-warns/
Metro Bank, former top bosses fined over reporting error: British challenger bank Metro (MTRO.L) and two of its former executives have been slapped with fines by ...
reuters.com/business/finance/uk-financial-regulator-fines-metro-bank-122-mln-2022-12-12/
British bank TSB fined 48.7 million pounds over botched IT migration: British lender TSB has been fined 48.65 million pounds ($59.1 million) over a botched IT ...
reuters.com/world/uk/british-bank-tsb-fined-4865-million-pounds-over-it-platform-migration-failures-2022-12-20/
City minister warns UK regulators to improve transparency : Demand for ‘world-leading’ effectiveness ahead of unveiling of ‘Edinburgh Reforms’ for financial ...
ft.com/content/195094b5-750f-4a73-bb4c-9b64224864ad
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TSB fined £48.7m over 2018 computer system meltdown: The Financial Conduct Authority and the Prudential Regulation Authority hit the bank with the penalty for ...
news.stv.tv/world/tsb-bank-fined-48-7m-by-city-regulators-over-2018-computer-system-meltdown
Jeremy Hunt to outline plans for shake-up of City regulation: Chancellor expected to target senior managers’ regime and ringfencing rules in 30-point package
theguardian.com/business/2022/dec/08/jeremy-hunt-city-regulation-financial-sector
Financial meltdown threat after mini-Budget crisis forces regulators to rethink risks
inews.co.uk/inews-lifestyle/money/pensions-financial-meltdown-threat-after-mini-budget-crisis-forces-regulators-to-rethink-risks-1974065
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