LONDON, March 26 (Reuters) – Start-up banks in Britain won’t
need as much capital as their established rivals from April,
Britain’s Financial Services Authority (FSA) said in a policy
move to boost competition.

Under pressure from lawmakers to increase choice in a sector
dominated by four banks, the FSA unveiled sweeping changes to
authorise new entrants within six months, a process that takes a
year or more at present.

LONDON (Reuters) – Banks’ participation in compiling the Libor benchmark interest rate that was at the centre of a fixing scandal last year will remain voluntary when new rules come into force.

Britain’s financial watchdog wants to restore credibility to Libor, a benchmark used to price products from home loans to credit cards worth $300 trillion globally, after some banks admitted to rigging it.

LONDON, March 25 (Reuters) – Banks’ participation in
compiling the Libor benchmark interest rate that was at the
centre of a fixing scandal last year will remain voluntary when
new rules come into force.

Britain’s financial watchdog wants to restore credibility to
Libor, a benchmark used to price products from home loans to
credit cards worth $300 trillion globally, after some banks
admitted to rigging it.

LONDON (Reuters) – Britain’s banks discover next week how much extra capital they need to keep regulators happy and how much of a head start new entrants in the sector will get.

The Bank of England’s Financial Policy Committee, tasked with spotting system-wide risks, will announce on Wednesday the outcome of an inquiry into capital levels at British banks.

LONDON, March 22 (Reuters) – Global regulators have proposed
hefty charges to cancel out capital relief banks enjoy when
buying pricey insurance to cover risky loans without
acknowledging the cost in a timely way.

The Basel Committee on Friday published for consultation
proposals to alter how banks recognise the high cost of buying
credit protection to cover assets such as complex bonds.

LONDON (Reuters) – The head of Britain’s new financial watchdog said on Thursday it would be no pushover and would bring more individuals to book, but that threats and fines alone would not end the abuses blamed for the financial crisis.

Martin Wheatley played down a comment by his predecessor Hector Sants that the industry needs to “be afraid” of its regulator.

LONDON, March 21 (Reuters) – The head of Britain’s new
financial watchdog said on Thursday it would be no pushover and
would bring more individuals to book, but that threats and fines
alone would not end the abuses blamed for the financial crisis.

Martin Wheatley played down a comment by his predecessor
Hector Sants that the industry needs to “be afraid” of its
regulator.

LONDON (Reuters) – Britain’s new financial watchdog is set to unveil its plans for tougher rule enforcement on Thursday, which the government hopes will help prevent a repeat of the financial crisis.

The Financial Conduct Authority (FCA) will be launched on April 1, April Fool’s Day, and the new watchdog will need to show that the “light touch” supervision of the past is a joke now truly buried.

LONDON, March 21 (Reuters) – Britain’s new financial
watchdog is set to unveil its plans for tougher rule enforcement
on Thursday, which the government hopes will help prevent a
repeat of the financial crisis.

The Financial Conduct Authority (FCA) will be launched on
April 1, April Fool’s Day, and the new watchdog will need to
show that the “light touch” supervision of the past is a joke
now truly buried.

LONDON, March 19 (Reuters) – A tax on trading in 11 euro
zone countries won’t harm Britain and its government cannot be
forced to collect the levy, a senior European Commission
official said on Tuesday.

The European Union executive has proposed a transactions tax
from January 2014 on stocks, bonds and derivatives listed in 11
countries to make banks pay for taxpayer help in the financial
crisis.