BANKING

Banks and finance platforms designated under Small and Medium Sized Business (Finance Platforms) Regulations 2015

The HM Treasury has published a notice of designation listing the banks and finance platforms designated under the Small and Medium Sized Business (Finance Platforms) Regulations 2015. The HM Treasury has the power to designate alternative finance providers under the Regulations which require designated banks to refer SME customers that they reject to finance platforms.

HM Treasury, 01 November 2016

Fifth Money Laundering Directive considered by House of Commons European Scrutiny Committee

The 15th report of the 2016-17 parliamentary session of the House of Commons European Scrutiny Committee has been published and includes an outline of the committee's consideration of the European Commission's proposed MLD5.

House of Commons European Scrutiny Committee, 01 November 2016

BoE Governor to extend his service till end of June 2019

letter from Bank of England Governor, Mark Carney, has been published, which states he will extend his time of service as Governor to June 2019. This extends the original appointment from five to six years.

Bank of England, 31 October 2016

INSURANCE

Insurers crucial in community recovery from flooding

Head of Property at the ABI, Mark Shepherd, has responded to the EFRA select committee report on future flood prevention, saying that Insurers play an important role in helping flooded communities recover and in backing resilience measures in the event of future flooding. The ABI has also produced a consumer guide to flood resistance and resilience for areas most affected.   

Association of British Insurers, 02 November 2016

Consultation on ICS version 1.0 consultation

Insurance Europe has issued a response to the International Association of Insurance Supervisors on the Insurance Capital Standards 1.0. Insurance Europe stressed the need to make sure the framework is risk-based and measures risks in the same way across jurisdictions.

Insurance Europe, 01 November 2016

INVESTMENTS AND FUNDS

Sales in September driven by mixed asset and global equity funds 

Monthly statistics published by The Investment Association for September 2016 have shown mixed asset was the best-selling asset class and global was the best-selling sector.

The Investment Association, 01 November 2016