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Articles by David Postings
Why some are getting the consolidated tape wrong
By Adam Farkas, David Postings and Chris Cummings Following recent debate around the UK consolidated tape, Adam Farkas, chief executive of AFME, David Postings, chief executive of UK Finance, and Chris Cummings, chief executive of The Investment Association, share their insights, asserting that a full consolidated tape including both pre-trade and post-trade data is essential to improve ensure transparency, competition, fairness, and trading outcomes across UK markets.
UK bank capital rules are becoming a drag on growth
The writer is chief executive of trade association UK Finance Since the financial crisis the UK has built one of the most resilient...
SIMEX 24 - a Major Market-Wide Simulation Exercise to Test the UK Financial Sector’s Resilience to a Major Operational Disruption
The Bank of England, in partnership with UK Finance, the financial sector and the other UK financial authorities (HM Treasury and the Financial Conduct Authority), has undertaken its latest UK market wide simulation exercise, SIMEX 24. The simulation set out to exercise the UK financial sector’s ability to respond to a major infrastructure failure that would require a total shut down and restart of the sector.
UK Finance Publishes Financial Services Manifesto
UK Finance has today released its financial services manifesto, outlining key priorities the next government should focus on. David Postings, Chief Executive of UK Finance, said: “The UK’s financial services sector is a global success story and one any future government should seek to partner with and support. Our sector delivers real benefits to society by helping people buy their homes, helping companies scale up, providing financial education, fighting fraud, and much more.
Banks recognise savers need more help accessing best rates, says City regulator
The FCA said in a statement: “We held a constructive meeting today, which builds on work we have been doing over several months – to monitor the savings markets and the decisions made. We have challenged firms where their decision making has been slow.” It said: “Those in the room recognised that they needed to do more to help their consumers access the best rates. We too recognise there is a need for further guidance, and will continue our focus on this.
Mortgage lenders ‘ready to support customers’ as rates jump again
Trade association UK Finance said the average tracker mortgage payment will increase by £47.43 per month, adding up to £569.16 annually. Taking all 13 base rate rises into account, the average monthly tracker mortgage payment will have increased by £464.79 – adding up to average tracker mortgage payment increases of £5,577.48 annually. David Postings, chief executive of UK Finance, said: “Lenders are ready to support customers who are feeling the strain from the rising cost of living.
Banks can help amid the mortgage mayhem, says UK Finance boss
There is a lot of interest in the mortgage market right now – it’s on the front pages and is the subject of significant political debate. Rising mortgage rates create concern among mortgage holders and people looking to get on the housing ladder. Cost-of- living pressures and higher rates, coupled with steep house prices, are affecting affordability. People are looking at their finances closely and making decisions about what they can afford.
Nearly 80% of APP scam cases start online, says UK Finance
More than half (57%) of reported cases related to purchase fraud, with other scams including impersonation scams, investment fraud, romance scams and people paying up-front fees for goods or services that never materialised. The figures were released as UK Finance chief executive David Postings called for the burden of fraud repayments to be spread beyond the banking sector, saying there had been a “missed opportunity” to include tech companies in reimbursement.
TSB Responds to UK Finance Fraud Report, With Calls for Mandated Refunds & Action From Social Media
UK Finance today releases its Annual Fraud Report, detailing the amount of money stolen by criminals through financial fraud in 2022.
Risks and opportunities from green mortgages highlighted by FCA boss
A draft of the speech, published on the FCA’s website, highlighted green mortgages, which include incentives for people to either buy an energy-efficient property or improve the energy efficiency of an existing property.
New consumer duty could lead to reduced mortgage access, says UK Finance boss
He said: “We should be thoughtful about the application of the new consumer duty.” Overseen by the Financial Conduct Authority (FCA), the duty will set clearer and higher standards of consumer protection across financial services, requiring firms to put customers at the heart of what they do. The rules come into force on July 31 for new and existing products or services that are open to sale or renewal, and from July 31 next year for closed products or services.
UK Finance Helps Deliver On Industry Commitment To Protect Access To Cash
UK Finance has played a leading role in the launch of Cash Access UK Ltd, a non-profit company which will help to protect cash access in UK communities. It is made up of nine of the UK’s largest high street banking providers. The incorporation of the company, which has been supported by UK Finance from the beginning, is a major milestone in delivering the industry’s commitment to ensure that customers will continue to be able to readily access cash on the High Street.
Why Truss must focus on the City to rescue the economy
From regulation to taxation, Truss should help the City cash in on its strengths Thursday September 22, 2022 12:01 am David Postings is CEO of UK Finance As Liz Truss prepares to head for her first Conservative Party Conference as prime minister, she is confronted with an overflowing in-tray. She has taken office during a time of profound economic uncertainty as the country faces a cost of living squeeze with rising inflation, interest rates and energy costs. ...
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