Regulation
PWC predicts M&A to pick up in Spanish financial services market
The rescue of CajaSur is likely to spark a wave of mergers in the Spanish financial services market as the Spanish Government pushes forward with its plans to merge those institutions to strengthen the market.
Legal update - Mandatory mediation: Working together
With Italy making mediation mandatory before a civil or commercial dispute can go to court, Michael Dawson looks at whether the UK will follow suit.
Solvency II - P&I Clubs: No going back
P&I clubs depend on their ability to call on members for additional cash. Alistair Groom asks whether Solvency II will increase the likelihood of any supplementary summons.
FSA in limbo as coalition puts Bank of England in charge
The coalition government has granted macro-prudential regulation of financial services to the Bank of England to rectify the "defective" tripartite system, according to the Treasury.
Irish regulator warns of post-crisis surpervisory scepticism
The Financial Regulator, Matthew Elderfield, has warned Irish insurers that he will be more interventionist, rather than wait for a market failure to manifest itself and then cautiously weigh up the costs and benefits of a response.
Irish regulator warns of post-crisis surpervisory scepticism
The Financial Regulator, Matthew Elderfield, has warned Irish insurers that he will be more interventionist, rather than wait for a market failure to manifest itself and then cautiously weigh up the costs and benefits of a response.
CEA welcomes EU/US Japan Post Insurance talks
The European insurance and reinsurance federation, CEA, has welcomed joint EU and US effort to address the Japanese government’s preferential treatment of Japan Post Insurance.
Apil “bitterly disappointed” at Queen’s Speech damages omission
The Association of Personal Injury Lawyers has expressed its disappointment at the coalition government’s decision to leave the draft Civil Law Reform Bill out of the Queen’s Speech.
Eversheds comments on Queen's speech
Jeremy Irving, partner at international law firm Eversheds, comments on the implications of the financial reform bill for the insurance market.
CEA welcomes EU/US Japan Post Insurance talks
The European insurance and reinsurance federation, CEA, has welcomed joint EU and US effort to address the Japanese government’s preferential treatment of Japan Post Insurance.
Law firm warns government against hasty reform of financial institutions
Beachcroft has warned the government against trying to rush through financial reform "in pursuit of favourable headlines".
Queen backs independent fiscal agency
The Queen's speech 2010 has outlined addressing the budget deficit as the key issue for the coming year, with the formation of a new ‘Office for Budget Responsibility’ seen as a measure to address the UK’s £6bn deficit.
Deficit will be cut through ‘reduced spending not increased taxes’
In her speech to mark the state opening of Parliament, the Queen has said that “dealing with the deficit and continuing to ensure the economic recovery is the most urgent issue facing Britain”.
Government outlines Bank of England intentions
The coalition government has introduced a bill to increase the power of the Bank of England as part of the Queen’s Speech.
KPMG appointed as First City's administrator
David Costley-Wood and Michael Walker, restructuring partners at KPMG, have been appointed joint administrators of First City Insurance Group and its subsidiary company, First City Partnership by the companies’ directors.
Former EU ambassador chosen to lead new Irish financial services push
Ireland’s international financial services industry, in a private sector initiative, has announced its intention to create the role of chairman of IFSC Ireland.
Former EU ambassador chosen to lead new Irish financial services push
Ireland’s international financial services industry, in a private sector initiative, has announced its intention to create the role of chairman of IFSC Ireland.
US financial reform bill passes
The US Senate approved a sweeping Wall Street reform bill on Thursday night, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s.
CCIR praises EU for blasting US reinsurance tax proposals
The Coalition for Competitive Insurance Rates (CCIR) has commended the European Union for "speaking out against a controversial tax proposal” on affiliated reinsurance included in President Obama's 2011 budget proposal.
US financial reform delayed
In a setback for the Obama administration, Senate Democrats failed to muster enough votes on Wednesday to end debate on the overhaul of financial regulation, delaying a vote on passage.
Ex-Aviva public affairs head urges Tory colleagues not to scrap IIWG
The former head of public affairs at Aviva and new Conservative MP Tracey Crouch, believes the Insurance Industry Working Group report should not simply be scrapped because of a change of government.
Post Magazine - 20 May 2010
Subscribers to Post can now read the latest edition online as a digital interactive e-book.
BIBA 2010: Willis CEO questions FSA's "grandfathering" of Quinn
Willis chief executive Joe Plumeri has questioned the Financial Services Authority's role in the problems revolving around Quinn Insurance.
POS PPI ban confirmed
The Competition Commission has reaffirmed its decision to provisionally introduce a point-of-sale prohibition on payment protection insurance.