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...“There is a chance that we can beat them to the crunch but they are far ahead of us at the moment,” said one UK-based insurance executive....
...More data = more information = a chance to remedy where things may be unfair. And where the City leads, others may follow 🚶🏼♂️. Got thoughts on the City’s DEI consultation, pro or anti?...
...The PRA’s Woods adds: “You need to be very clear about your operational independence....
...The Prudential Regulation Authority said in September that “more work is required” and there was no chance of AIRB taking effect in 2023....
...The bank spent the next two months scrutinising the large amount of documents with the assistance of law firm Clifford Chance....
...“The life chances and financial security of millions of people across the country depend on the timely and successful reform of this key piece of financial services regulation,” said Tracy Blackwell, chief...
...The UK bank executive nonetheless has sympathy for the competing interests the PRA is trying to balance....
...By the end of this week, LV’s 1.2m members will have had the chance to vote on what its leaders now say is the best way forward: a sale of the remaining life insurance operations to private equity group...
...In principle, matching adjustment should only compensate for increases in spreads related to short-term price fluctuations — not the increasing chance of borrowers defaulting....
...The chaotic amateurs have a much better strategy, however, which is to ignore equities completely until the circumstances exist that betting on literally anything gives them a greater-than-evens chance of...
...We still say the chance of cruising returning in May is a long-shot at best....
...But with Intu having failed to attract anyone to a similar pitch, the chances of success don’t look strong enough to merit a buy, Peel Hunt says. 2:00pm BST - Buy-to-let mortgage lender OneSavings Bank...
...He led the PRA from its creation in 2013 out of the old City watchdog, the Financial Services Authority....
...The staggered approach was by design so both the PRA and the banks had a chance to test out their systems one at a time to minimise chances of a mass breakdown at the point of transfer....
...Superfunds should only be used as a “bridge” to enable schemes to reach the stage where companies could afford a buyout with an insurance company, the PRA argued....
...The investors argued that such a move could help defuse personal tensions between the activist and the bank’s managers and directors, and that a well-chosen third-party nominee would stand a better chance...
...“When we look at the PRA [the UK Prudential Regulation Authority], the ECB, the CBI — they’re all professional organisations....
...Vicky Pryce: There is little chance of levelling up during 2021....
...There should be no second chance. Lex recommends the FT’s Due Diligence newsletter, a curated briefing on the world of mergers and acquisitions. Sign up at ft.com/newsletters....
...But the BoE’s plan “effectively torpedoes European hopes to create a rival to the City in the EU”, argued Simon Gleeson, a regulatory partner at Clifford Chance....
...The staggered approach is by design to give the PRA and the banks the chance to test out their systems one at a time to minimise chances of a mass breakdown at the point of transfer....
...By the time of the PwC penalty in September 2014, the bank knew there was a good chance DFS would open a second investigation into the watering down of the report and might even take action against individuals...
...“The current fixed quarterly nature of the LTI flow limit could make it harder for some firms to manage their business pipeline,” the PRA said....
...Mr Newman is hopeful that the PRA will refine its approach when the consultation period on its rules finishes next February. The PRA declined to comment....
...The sale of a Brazilian unit, itself supplying 70 basis points, may have inspired leniency from the PRA....
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