Region: United Kingdom

Has the FCA made individual responsibility in banking a reality?

Statistics recently obtained by Herbert Smith Freehills call into question whether the Senior Managers Regime has been effective in allowing UK regulators to pursue enforcement against senior individuals in financial services, writes Jenny Stainsby, the global head of the firm’s financial services regulatory practice.

06 July 2022

UK industry body calls for AI fairness guidance

The UK’s largest banking association has called on regulators to issue fairness guidance for artificial intelligence.

27 June 2022

UK regulators’ horizons reach the cloud under Treasury plans

The UK government has proposed expanding its financial regulators’ powers over third party providers including cloud-based data centres.

15 June 2022

Three major UK banks falling short with resolution plans, BoE says

The Bank of England has found “shortcomings” in three major UK banks’ resolution plans, despite finding those same banks are no longer “too big to fail”.

13 June 2022

UK regulators propose tighter MMF rules

The UK’s financial regulators have announced plans to improve the resilience of money market funds by requiring them to hold more liquid assets and limiting dealing frequency.

25 May 2022

UK government includes two financial regulation bills in Queen's Speech

The UK government has announced plans for two new financial regulatory-focused bills for the next legislative session, with plans for further post-Brexit regulatory onshoring and crypto-asset forfeiture powers.

11 May 2022

“We are at a crossroads”: what’s next for regulation in the UK?

CityWeek’s 12th annual Financial Services Forum heard keynotes from the chief executives of the Financial Conduct Authority and Prudential Regulation Authority, along with discussions of the UK’s ambitions as a crypto hub and its potential for regulatory divergence post-Brexit.

09 May 2022

FCA raises alarm over challenger banks’ customer onboarding

The UK’s Financial Conduct Authority has raised concerns over weaknesses in challenger banks’ check-ups when they are onboarding new customers.

25 April 2022

FCA delivers revised diversity proposals

Saying they will speed up the “pace of change”, the UK’s Financial Conduct Authority has revised its plans for firms to disclose their diversity figures, allowing firms to gather diversity data by their own chosen means.

22 April 2022

UK competition regulator hands open banking to FCA

The UK’s competition regulator will cede control of its open banking unit to the Financial Conduct Authority, following criticisms of its governance and a bullying scandal last year.

29 March 2022

Get unlimited access to all Global Banking Regulation Review content