Regulation Correspondent, Europe
Huw's Feed
Mar 12, 2015

FCA wants to ease bank account switching

LONDON (Reuters) – Allowing customers to take their bank account number with them would encourage more Britons to switch to a rival lender, Britain’s financial regulator said on Thursday.

Such flexibility has long been a feature of the mobile phone market where customers keep the same telephone number when they shop around between rival providers.

Mar 12, 2015

UK watchdog wants to ease bank account switching

LONDON, March 12 (Reuters) – Allowing customers to take
their bank account number with them would encourage more Britons
to switch to a rival lender, Britain’s financial regulator said
on Thursday.

Such flexibility has long been a feature of the mobile phone
market where customers keep the same telephone number when they
shop around between rival providers.

Mar 12, 2015

London to host ‘war game’ to test EU capital markets plan

LONDON (Reuters) – European Union plans to lift flagging growth by raising more funds on markets will be tested in a “war game” next week to identify pitfalls and help keep Britain on board the EU train.

Brussels has outlined steps for a “capital markets union” (CMU) to tap stock, bond and other markets more effectively for plugging funding gaps left by retrenching banks.

Mar 11, 2015

Britain’s banking shake-up will take at least five years to bear fruit: regulator

LONDON (Reuters) – It will take another five years or more to make real inroads into the dominance of Britain’s five biggest banks, a senior Bank of England official said on Wednesday.

Two years ago the government and regulators made it easier for new entrants to set up shop in attempt to loosen the chokehold of Lloyds, Barclays, HSBC, Royal Bank of Scotland and Santander UK, which provide about 85 percent of current accounts in Britain.

Mar 11, 2015

EU parliament report casts doubt over bank trading curbs

LONDON (Reuters) – Rules forcing banks to isolate risky trading activities must be fully evaluated to gauge their impact on economic growth and the ability of banks to bear the extra costs, a study by the European Parliament said on Wednesday.

The EU assembly and member states are trying to find consensus on a draft EU law that proposes banning proprietary trading at banks, in which they take bets in financial markets with their own money.

Mar 10, 2015

BoE’s Carney looks at global approach for revoking banker licences

LONDON, March 10 (Reuters) – British regulators are looking
at whether global agreement is possible on revoking licences of
bankers who break rules, Bank of England Governor Mark Carney
said on Tuesday.

The Bank is part of Britain’s fair and effective markets
review (FEMR) to raise conduct standards after banks were fined
for trying to rig currency and interest rate benchmarks.

Mar 10, 2015

Substandard payday lenders face closure, says FCA

LONDON (Reuters) – Borrowers in arrears are not being treated properly by many so-called payday lenders and some of these high-cost credit providers could be forced to leave the market, Britain’s financial watchdog said on Tuesday.

The Financial Conduct Authority (FCA) said it had completed a year-long review of the market that offers short-term loans to tide over borrowers until they are paid and has been criticised by lawmakers and the Church of England for causing misery among customers on low salaries.

Mar 10, 2015

Substandard payday lenders face closure, says British watchdog

LONDON, March 10 (Reuters) – Borrowers in arrears are not
being treated properly by many so-called payday lenders and some
of these high-cost credit providers could be forced to leave the
market, Britain’s financial watchdog said on Tuesday.

The Financial Conduct Authority (FCA) said it had completed
a year-long review of the market that offers short-term loans to
tide over borrowers until they are paid and has been criticised
by lawmakers and the Church of England for causing misery among
customers on low salaries.

Mar 10, 2015

FCA to keep close eye on low bond market liquidity

LONDON (Reuters) – Britain’s financial regulator said on Tuesday that low liquidity in bond markets, which could create volatility in times of stress, needed careful monitoring.

But trying to improve liquidity by relaxing strict new capital requirements imposed on banks since the financial crisis was not an option, the regulator said.

Mar 10, 2015

UK watchdog to keep close eye on low bond market liquidity

LONDON (Reuters) – Britain’s financial regulator said on Tuesday that low liquidity in bond markets, which could create volatility in times of stress, needed careful monitoring.

But trying to improve liquidity by relaxing strict new capital requirements imposed on banks since the financial crisis was not an option, the regulator said.

    • About Huw

      "Huw is based in London and covers European regulatory issues and global rulemaking bodies such as the G20, Financial Stability Board, IOSCO, IASB and the Basel Committee. He has covered EU regulation in Brussels, the emergence pan-European stock markets, and has also been a Wall Street reporter in New York."
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