Liz Truss to set out economic plans to finance sector in bid to lead Britain

LONDON, Aug 4 (Reuters) – Liz Truss, front-runner to be Britain’s next prime minister, will set out her economic plans to finance sector officials on Friday, including scrapping legacy EU laws by the end of 2023. Foreign Minister Truss is up against former finance minister Rishi Sunak to win the votes of 200,000 members of … Read more

US needs full access to Chinese company audit papers to resolve accounting disputes – watchdog

The US Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 1 (Reuters) – The US public company accounting regulator will not accept any restrictions on its access to the audit papers of … Read more

Big Tech in finance? There’s a regulator for that

The logo for Amazon Web Services (AWS) is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 1 (Reuters Breakingviews) – Technology companies have stormed the heights of consumer finance, but they don’t face the regulation … Read more

UK companies may take ‘action’ if they downplay climate risk, watchdogs say

Smoke rises above a factory at sunset in Rugby, Britain February 10, 2021. REUTERS/Matthew Childs/File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, July 29 (Reuters) – Some of Britain’s top listed companies could be downplaying risks from climate change on their bottom line and could take “appropriate action”, regulators said on … Read more

Provident Financial returns to interim profit as wind-down costs fall

Provident Financial Group logo is seen on a smartphone in front of displayed stock graph in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register July 27 (Reuters) – British subprime lender Provident Financial (PFG.L) returned to interim profit on Wednesday, as costs related to the wind-down … Read more

US consumer watchdog to scrutinize crypto payments, Big Tech moves into finance director

WASHINGTON, July 27 (Reuters) – The top US consumer watchdog plans to scrutinize the use of cryptocurrencies for real-time payments and ramp up oversight of Big Tech companies as they expand into the traditional financial sector, its director told Reuters. The Consumer Financial Protection Bureau (CFPB) will also publish a report this fall on “buy-now, … Read more

South Korea plans financial tool to head off crises

SEOUL, July 26 (Reuters) – South Korea’s top financial regulator unveiled on Tuesday a draft plan for supporting distressed financial companies to prevent failures, rather than waiting to bail them out after they had defaulted and caused economic damage. Under the plan, a credit facility run by the Korea Deposit Insurance Corporation (KDIC) would provide … Read more

Britain kicks off post-Brexit ‘transformation’ of finance

LONDON, July 19 (Reuters) – Regulators will have to promote the global competitiveness of Britain’s financial sector or could face mandatory reviews of their rules, UK finance minister Nadhim Zahawi said on Tuesday. He confirmed that a long-awaited financial services and markets bill will be introduced before parliament on Wednesday to “capitalize on the benefits … Read more