Archive for the ‘Banking sector UK’ Category

£100 million bank fines allocated by government to good causes

Comments Off | 08-3-2014

The Prime Minister and the Chancellor have today announced that fines levied by UK regulators on Lloyds Banking Group this week for manipulation of financial benchmarks including the London Interbank Offered Rate (LIBOR) will be allocated to good causes supporting the Armed Forces community as well as other charitable bodies and organisations.
The fines, which amount

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Business confidence increasing in Scotland

Comments Off | 03-26-2014

Scottish Secretary says being part of a ’strong and secure’ UK economy is creating confidence in Scottish businesses.

Commenting on the publication of the latest Business Monitor from Bank of Scotland, Scottish Secretary Alistair Carmichael said:

Today’s Bank of Scotland survey provides great optimism for businesses across the country. Expectations for Scotland’s economy are at the highest

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Business Bank investment lends extra helping hand to small businesses

Comments Off | 12-3-2013

Welsh Secretary marks new investment in British Business Bank
The additional multi-million pound investment in the British Business Bank is another clear demonstration of the UK Government’s commitment to empowering small businesses, said the Secretary of State for Wales, David Jones.
The UK Government has today pledged to invest an extra £250m into the British Business Bank,

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Government welcomes launch of major new survey to find best SME bank in Britain

Comments Off | 11-2-2013

The Chancellor has today announced that the Federation of Small Businesses (FSB) and the British Chambers of Commerce (BCC) will jointly conduct a new survey to show for the first time which bank offers the best service to small and medium-sized enterprises (SMEs) in Britain.
The FSB and BCC will ask businesses right across the country

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Plans to strengthen Banking Code of Practice confirmed by government

Comments Off | 10-12-2013

Following a consultation, new changes will be legislated for in Finance Bill 2014.
The government has confirmed plans to strengthen the Code of Practice on Taxation for Banks.
Following a consultation over summer 2013, changes announced today (Friday 11 October) will be legislated for in Finance Bill 2014 and will ensure that on signing up to the

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Banking Reform Bill amendments published

Comments Off | 10-2-2013

Banking Reform Bill amendments published as bill enters the House of Lords.
Today the government entered the final legislative phase of its plan to create a stronger and safer banking system that supports the economy, consumers and small businesses by publishing key amendments to the Banking Reform Bill.
The government’s reforms are based on almost three years

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Sir Jon Cunliffe appointed Deputy Governor of the Bank of England for Financial Stability

Comments Off | 07-29-2013

Her Majesty The Queen has agreed, on the recommendation of the Chancellor and Prime Minister to appoint Sir Jon Cunliffe, currently United Kingdom Permanent Representative to the European Union, as Deputy Governor of the Bank of England with responsibility for Financial Stability, starting on 1 November 2013.
Her Majesty The Queen has agreed, on the recommendation

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Sir David Lees re-appointed Chair of Bank of England Court

Comments Off | 02-26-2012

Her Majesty The Queen has approved the Chancellor and Prime Minister’s recommendation for the re-appointment of Sir David Lees as Chair of the Court of the Bank of England.
Sir David has indicated he will step down from Court at the end of 2013, once he has overseen the transition of the Bank’s new responsibilities and

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Banks boost UK jobs and skills market with the creation of over a thousand new apprenticeships

Comments Off | 02-9-2012

A number of major high street banks will create new apprenticeship schemes and offer more places to young people, Skills Minister John Hayes announced today.
The announcements were made during National Apprenticeship Week at a financial services sector roundtable, held at HSBC in Canary Wharf, to look at the creation of new apprenticeship routes into employment.
Banks

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Government launches consultation to improve bank bonus transparency

Comments Off | 12-7-2011

The Government has launched a consultation that will help tackle unacceptable bank bonuses by improving pay transparency at large banks, Mark Hoban, Financial Secretary to the Treasury, has announced today. The proposals would extend transparency arrangements at large banks by requiring the eight highest-paid non-board executives to disclose their remuneration arrangements. Improving transparency for senior

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