Lloyd's rules date
The FSA has confirmed that it is to publish the near final rules for the regulation of the Lloyd's and London market on 11 March.
Lloyd's rules dateThe FSA has confirmed that it is to publish the near final rules for the regulation of the Lloyd's and London market on 11 March. This week, there were reports that the regulator would unveil the rules based on its consultation paper CP178 at a meeting with senior London market figures. But an FSA spokesman said that the meeting was only to outline CP178.
Biba alarmedBiba called the low number of firms applying for early FSA registration "alarming".Biba regulation and compliance consultant Branko Bjelobaba said: "With the FSA having started accepting registrations from November 2003 and applications from 19 January 2004, the total number of registrations looks extremely low with secondary intermediaries running at only 1,000 firms."
Auditors' lobbyAuditors are lobbying ministers in their campaign to win a liability cap to safeguard against catastrophic claims, revealed a report.
Denis profit leapBroker W Denis' pre-tax profit doubled to £581,499 in the year ending 30 June 2003. In 2002 pre-tax profit was £268,923. Turnover increased to £2.3m, compared to £1.6m the previous year.
Subsidence fearsFlood defences in York have worked so well the city is now facing an increasing risk of subsidence, a report has claimed. It said broken sewers and service pipes and road subsidence have been identified as possibilities in a preliminary study.
Underwriter aidOneSource Information Services has launched a risk assessment programme for underwriters.Called Synergy Solutions, OneSource said the programme would allow underwriters to manage the process of assessing the business risk of new and existing accounts.