Britain Financial News

BNP Paribas has hired a senior JPMorgan banker to bolster its coverage of UK companies in the latest change at the French bank.

Following a 10-month inquiry, the Aall Party Parliamentary Group (APPG) has made a total of 53 recommendations on a number of key areas, warning that the UK has a finite window of 12-18 months to ensure early leadership on cryptocurrency regulation. The report looks into the the role and current approach of UK regulators including the Bank of England, the FCA and the ASA, the potential offered by Central Bank Digital Currencies and the risks faced in terms of consumer protection and economic crime. The lawmakers contend that cryptocurrency and digital assets are best regulated within existing and new financial services regulations, but state "significant concerns" about whether regulators currently have the resources, capacity and technical expertise required to deliver on their responsibilities. The APPG recommends that all UK regulators related to the sector should have dedicated and properly resourced cryptocurrency and digital assets units, states the report. To ensure a coordinated approach across all policy areas, the Government should also consider the appointment of a ‘Crypto Tsar’ who can help coordinate across departments to ensure a consistent approach.

A Slaughter and May corporate partner has been seconded to the UK’s Takeover Panel as secretary for two years.

Bitcoin has made a significant move by breaking above the crucial resistance level of $27,000. 

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Fidelity Digital Assets, the crypto custody unit of US-based asset manager Fidelity Investments, more than tripled revenue across its UK business last year, with strong institutional client demand for its custody and trading services helping to narrow losses for the fledgling business.

A parliamentary group in the United Kingdom has published its recommendations to the government for the crypto and digital asset sector. The list of recommendations includes the appointment of an official who will ensure a coordinated regulatory approach to crypto and digital assets. 

The all-party parliamentary group for crypto and digital assets has called for urgent measures to regulate crypto in the UK and wants the government to consider appointing a 'crypto tsar' to ensure efforts across various departments with a stake in the sector are coordinated.

Developers working on artificial intelligence should be licensed and regulated similarly to the pharmaceutical, medical, or nuclear industries, according to a representative for Britain’s opposing political party.

It is a goal of many in the crypto industry to evolve the space and bring it into the mainstream, but the industry still faces constant criticism from and continues to be regulated by individuals who may not fully understand how it works. Regulatory bodies worldwide have been increasingly vigilant in addressing potential risks and ensuring compliance within the crypto space. 

HSBC has been ranked as one of the top employers in the UK for promoting good mental health in a closely-watched ranking by asset manager CCLA.

UK-based crypto analytics and risk management firm Elliptic has incorporated the popular artificial intelligence (AI) chat bot ChatGPT into its work, with an aim to speed up the tracking of cybercriminals, the firm said in a recent press release.

The AI task force advisor to the prime minister in the United Kingdom said humans have roughly two years to control and regulate artificial intelligence (AI) before it becomes too powerful.

As regulators and politicians scramble to improve the attractiveness of the City’s capital markets, a number of firms on the listings trail say they have not ruled out London.

Richard Buxton, one of the City's best-known stock-pickers, is leaving Jupiter at the end of August — a move which will see him also retire from fund management.

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The UK government is scrutinising multiple options to hold onto London’s crown as a leading financial centre, on the back of an outflow of talent, jobs and investment following Brexit.

British multinational bank Standard Chartered and PwC China have teamed up to produce a white paper on applications for central bank digital currency (CBDC) in the so-called Greater Bay Area of China – Guangdong Province, Hong Kong and Macao. Programmability will make all the difference, they concluded.

While the U.S. has long been known as a center of innovation and new technology, the nation’s regulatory bodies don’t seem to know quite what to make of the crypto industry. The U.S. is lagging behind countries in Europe and Asia in establishing crypto regulations, and it’s not because the industry is broadly resistant. Indeed, crypto insiders would welcome — are asking for — clear and consistent guidelines.

Some of the UK’s top asset management firms are facing tough questions over why they have still not yet signed up to a “fundamental” initiative to improve racial equality in the workplace.