Organisation: Bank of England

The UK’s central bank has announced plans to unify its enforcement approach, providing “carrots” for early cooperation and, potentially, disproportionately large fines for regulatory infringements by big firms.

15 May 2023

Bank of England senior leaders have defended the ringfencing exception for HSBC following the collapse of the Silicon Valley Bank – even as the Prudential Regulation Authority’s chief executive accepted that the central bank might give way again to such a demand from a big bank in future crisis situations.

30 March 2023

The UK’s principal financial regulator and central bank have settled on final requirements to harmonise the quality of data under the derivative reporting framework under the UK version of EMIR, in pursuit of parity with IOSCO’s standards.

28 February 2023

The Bank of England has announced its roadmap for a revamp of its real time gross settlement service, folding its ambitions for a wholesale CBDC into the plans.

15 February 2023

As the UK’s prudential regulator publishes supervisory priorities with an “unprecedented focus” on the banks’ technological side, practitioners tell GBRR that banks might be faced with challenges in keeping up with the scale and pace of change.

12 January 2023

The Bank of England’s deputy governor for financial stability Jon Cunliffe has spoken out about how the collapse of crypto exchange FTX will impact the UK’s plans for crypto regulation – while giving details on the central bank’s plans for a systemic payment systems regulatory regime and a digital pound.

22 November 2022

Undermining the operational independence of financial regulators could have adverse implications for “international standing” and “competitiveness”, warned Victoria Saporta, the UK’s Prudential Regulation Authority’s executive director of prudential policy, in an appearance before MPs as they consider the Financial Services and Markets Bill.

24 October 2022

The British government is reportedly looking to abolish limits on bankers’ bonuses, in what practitioners tell GBRR would be a “high-profile” departure from EU regulatory standards.

21 September 2022

The UK’s Prudential Regulation Authority has said it will take on “wider rulemaking responsibilities” and take advantage of post-Brexit freedoms, amid political shifts over the proper mandate for regulators in the UK.

08 September 2022

The UK government has published a “landmark” bill that would cement EU divergence, take control over cryptocurrencies and leave room for government to siphon power away from its regulators – all at once.

20 July 2022