A deputy governor of the Bank of England has launched an outspoken attack on new European regulations that he warns could create further financial crises.
Paul Tucker, who is in charge of financial stability at the Bank, says he and his colleagues are "dismayed" by the costs that insurers face to comply with planned European Union insurance capital rules, known as Solvency II, from 2014, reports the Independent. READ MORE... Elsewhere... London remains the top city in the world for foreign investment, according to a report that reflects the rise of emerging economies. MORE... Barclay's top two investment bankers have each cashed in £10m of share awards as six other directors shared a £7.35m payday. MORE...
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