China will commence the second stage of a trial program for...
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NHRC faults probe of Foxconn hiring, orders new inquiry
"The commission has no hesitation in stating that the authorities...
CCPA issues notice to Apple over iPhone performance issues
The notice seeks Apple's explanation regarding reported technical...
IRDAI asks life insurers to maintain 13th month persistency at 90%
Life insurance business expected is to grow by 12 to 15 per cent in the coming years and life insurers will play a crucial role in creating huge employment through agency channel under the “New Normal, said M R Kumar, Chairman, Life Insurance Corporation
Up to 4,000 financial firms could fail due to COVID, says UK regulator
“At end of October we’ve identified there are 4,000 financial services firms with low financial resilience and at heightened risk of failure,” said Sheldon Mills, the FCA’s executive director of consumers and competition.
“These are predominantly small and medium sized firms and approximately 30% have the potential to cause harm in failure.”
PK Arora assumes charge as IRDA’s member, Actuary
Arora had joined LIC in 1986 and he has 35 years of experience of working in various departments in different capacities.
IRDAI unveils mandatory standard detariffed products for dwellings, micro and small enterprises
The new products can be sold by the general insurers from 1st April, 2021
IRDAI has now issued guidelines whereby the Standard Fire and Special Perils (SFSP) Policy provided for in the AIFT 2001 will be replaced by the standard products that will be mandatorily offered by all general insurers carrying on Fire and allied perils insurance business with effect from 1st April, 2021.
RBI comes up with Digital Payments Index
The RBI-DPI comprises of five broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods.
The parameters are payment enablers (weight 25 per cent), payment infrastructure–demand-side factors (10 per cent), payment infrastructure – supply-side factors (15 per cent), payment performance (45 per cent) and consumer centricity (5 per cent).
BBB to interview 5 candidates on Jan 4 to select CMD of Oriental Insurance Company
The shortlisted candidates who will be appearing for the interview for OIC CMD post are – Anjan Dey, director and general manager, GIC Re, Shobha G. Reddy, general manager,National Insurance Company(NIC), M. Bhaskar, general manager GIC Re, Suchita Gupta, GM, GIC Re, Surya Swaroop Saxena, GM, Agriculture Insurance Company of India.
IFSCA becomes member of International Organization of Securities Commissions
The membership of IOSCO would provide IFSCA the platform to exchange information at the global level and regional level on areas of common interests.
Brexit ends Britons’ right to live and work in EU
Under the divorce deal agreed by the two sides on Dec. 24, the roughly 1 million British citizens who are legal residents in the EU will have broadly the same rights as they have now. The same applies to more than 3 million EU citizens living in the U.K.
But British citizens will no longer have the automatic right to live and work in the EU, and vice versa. People who want to cross the border to settle will have to follow immigration rules and face other red tape such as ensuring their qualifications are recognized.
2021 will witness lot of regulatory efforts channelled towards virtual assets: SBI official
” The use of crowdfunding websites, although not entirely new, create an additional risk as these are specially designed to solicit funding and can be misused for terror financing,” he said.
Varma also noted that crypto currencies and its potential means to finance terrorism is a significant threat especially when is anonymous in nature.
Factbox-Brexit and the City of London: what changes and when
For now, no. London still has a towering lead over rivals Frankfurt, Milan and Paris when it comes to trading stocks, currencies and derivatives and playing host to asset managers.
Financial firms say shifting more capital out of London than is necessary under Brexit would cause unnecessary and costly market fragmentation.
But in the longer term, if the EU takes a tough line on equivalence and its financial centers reach a critical mass in trading key asset classes, the attractions of London as a financial hub would diminish.