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How HSBC became the world’s most accident-prone bank
10 months, 3 weeks ago

How HSBC became the world’s most accident-prone bank

The Telegraph  

HSBC was hit with the second largest fine ever imposed by the financial stability watchdog on Tuesday after it mistakenly excluded billions of pounds of customer deposits from a key compensation scheme. The Bank of England’s Prudential Regulation Authority, which keeps Britain’s finance system on an even keel, fined HSBC £57.4m for failing to flag thousands of customers accounts as …

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Bank of England fines former TSB executive over 2018 IT meltdown
1 year, 8 months ago

Bank of England fines former TSB executive over 2018 IT meltdown

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The central bank’s Prudential Regulation Authority division penalised the …

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Hunt overrules Bank of England to push ahead with plans for Big Bang 2.0
2 years, 1 month ago

Hunt overrules Bank of England to push ahead with plans for Big Bang 2.0

The Telegraph  

He added: “Phoenix plans to invest £40bn to £50bn in illiquid assets and sustainable investments over the next five years to support house building, green energy, and local communities across the country without compromising policyholder protection in any way.” Meanwhile Tracy Blackwell, chief executive of the Pension Insurance Corporation, said the announcement “gives us the stability to support the Government’s …

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Bank of England is ‘dragging its feet’ on cutting EU red tape
2 years, 1 month ago

Bank of England is ‘dragging its feet’ on cutting EU red tape

The Telegraph  

The PRA last week launched its latest consultation on reducing the burden around reporting and administrative requirements for Solvency 2. It said it will consult on the other three sections of reforms – including capital requirements – “at a later date”, raising the prospect that Solvency 2 reform will drag on beyond 2025, nearly a decade after the UK voted …

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Monthly Digest Of IBC Cases: May 2022
2 years, 6 months ago

Monthly Digest Of IBC Cases: May 2022

Live Law  

Supreme Court Supreme Court Declares Noida As An Operational Creditor Under The Insolvency And Bankruptcy Code, 2016 Case title: New Okhla Industrial Development Authority v Anand Sonbhadra Case No. The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Ms. Shreesha Merla and Mr. Naresh Salecha, while adjudicating an appeal has upheld that Corporate Insolvency Resolution Process …

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