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Industry veteran argues that the culture of the UK regulator is stifling growth.
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The FCA has hired 60 staff this year alone, with more than 200 set to join by the end of the quarter, including 95 on its authorisations team.
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Absent more significant reform, any changes this year look set to simply shift the timing of burdens falling on the public purse.
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The Italian insurer’s board has experienced a string of resignations in recent weeks.
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FCA employees who are Unite members have voted to back industrial action, after CEO Nikhil Rathi upset staff with proposed changes to pay and work practices.
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Two legal academics, giving evidence to the House of Lords inquiry into London market regulation, highlighted the need for a climate-focused duty for regulators.
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Multiple government and regulator reviews have launched at a time when the cost of compliance is already piling pressure on brokers.
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Secretary of state Michael Gove claimed the market is “failing some leaseholders”.
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The association will also work on cyber risks, cladding and reducing regulation this year.
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Chris Croft and Caroline Wagstaff will help to assess the UK sector’s competitiveness.
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The London Market Group’s CEO Caroline Wagstaff has set out how the approach of regulators needs to evolve, amid regulatory reforms.
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The Axa XL executive said a parliament inquiry into London market regulation provides a platform to raise issues around the absence of UK captives and domestic reinsurers.