Search results for Prudential Regulation Authority
Finance
Hana Bank prepares for fund-based retirement pensions, benchmarks Australia and UK markets
As discussions gain pace on introducing fund-based retirement pensions, Hana Bank is preparing for possible changes by benchmarking pension market practices in Australia and the UK. The bank said it visited retirement pension funds and asset managers in the two countries to review governance, asset management and member administration systems. It is sharing the findings within Hana Financial Group and considering how to apply them to Korea’s system.
Finance
Woori Bank wins UK licence for London trading centre, to begin operations this month
Woori Bank has obtained licences from UK regulators needed for client-facing derivatives business and securities management, it said. The bank said its London trading centre received approvals from the Financial Conduct Authority and the Prudential Regulation Authority on May 29. Woori Bank began work on setting up the centre in January last year and submitted its application in July, receiving final approval about 10 months later. It plans to start full operations this month after completing internal procedures.
Crypto
Revolut wins UK banking licence after five years
Revolut has obtained a licence to operate as a full bank in Britain, CNBC reported on Tuesday. The approval follows a five-year regulatory process and allows Revolut to offer formal bank accounts to retail and corporate customers in the UK. CEO Nikolay Storonsky (니콜라이 스토론스키) called the UK bank launch a long-standing strategic priority and a milestone in its mission. Revolut is also applying for a U.S. banking licence.
