The financial regulator has said it plans to hike the fines it imposes on individuals for misconduct following a series of legal setbacks that slashed its sanctions against senior executives.
The financial regulator has said it plans to hike the fines it imposes on individuals for misconduct following a series of legal setbacks that slashed its sanctions against senior executives.
Fitch Ratings secretly adjusted its credit rating models in the run-up to the 2008 financial crisis to generate artificially high credit ratings for complex debt investments, motivated by a desire to grow its revenues, an investment firm said in its latest claim against a major rating agency.
The government said Tuesday that it will review whether legislation that forces employers to test the quality of their workplace pension programs is still providing the appropriate safeguards to retirement savers.
The Bank of England acknowledged on Tuesday that the success of Britain's new captive insurance regime will depend on it being transparent and cost-effective as it draws up long-awaited regulations for the emerging sector.
Wealth manager Rathbones Group PLC said Tuesday that it has paused onboarding new clients that require enhanced due diligence after a regulatory review identified areas of improvement for its consumer duty implementation and certain compliance, oversight and assurance arrangements.
Germany said Tuesday that it formally rejects "the aggressive approach" taken by Italy's UniCredit SpA as it pushes to increase its stake in domestic lender Commerzbank AG.
