Financial Conduct Authority (FCA)
Senior UK bankers face bonus clawback for up to 10 years
Final PRA/FCA proposals on remuneration set the clawback period at seven years with a potential three more for senior managers; Andrew Tyrie questions whether the rules are enough
SEC chief sees potential in UK’s senior managers regime
Mary Jo White says she is ‘very interested’ in the UK's accountability regime, as part of a panel discussing the many pitfalls in changing bank culture; Martin Wheatley warns reform could take 10 years
Banks are de-risking due to lack of regulatory direction
Banks are struggling to balance growing compliance costs with the need for a risk-based approach to individual client accounts. Regulatory guidance isn’t helping, a London conference hears
FCA’s Wheatley highlights complexity of banking cultural reform
As banks are hit with yet more record-breaking fines, the head of the UK’s financial watchdog argues they are trying to change their ways, but the job is not a straightforward one
UK’s Tyrie says ‘wider problems’ need fixing at FCA
Damning report by UK’s Treasury Committee says financial watchdog must do more to correct failures brought to light during a communications debacle in March 2014
UK payments regulator set for launch
PSR outlines its approach ready for start of regulation on April 1, including plans to work more closely with the industry, increase transparency and boost competition
Carney targets 'strategic’ approach to market intelligence
BoE governor Mark Carney sheds light on some of the recent changes to the way the central bank gathers market intelligence in Treasury Select Committee hearing
UK regulators flesh out proposed punishments for bankers
Consultation papers set out details of how presumption of responsibility will work in practice, including narrowed scope, and seek to extend greater protections to whistleblowers
MAS takes first steps towards crowdfunding regulations
Proposed regulations aim to strike a balance between encouraging a valuable source of finance for small businesses and managing the high risks associated with securities-based crowdfunding
BoE’s Hauser says markets review will avoid heavy-handed regulation
Andrew Hauser says UK’s Fair and Effective Markets Review will seek to achieve its aims through market discipline if possible, instead of imposing burdensome regulation
Treasury Committee attacks FCA’s use of media as ‘tool of regulation’
UK conduct regulator defends use of press to disseminate its policies, but MPs call the process ‘bizarre’ and a ‘colossal risk’
UK’s FCA declares success in nudging savers towards new products
Occasional paper presents results of trial involving over 20,000 consumers to see if they could be encouraged to seek higher returns; produced ‘notable difference’ in behaviour
FCA director says breakdown in controls led to communications blunder
Clive Adamson says FCA has taken steps to improve internal procedures; tells MPs the organisation can struggle to operate in a crisis
UK payments regulator may use powers to force innovation
Payment Systems Regulator emphasises its "strong" powers over industry and says it will not hesitate to use them if firms fail to collaborate on innovation
Davis Report reveals extent of FCA communications blunder
Report uncovers misguided comms strategy, poor supervision by senior managers and sluggish response as FCA ‘taken by surprise’
UK's FCA unveils reshuffle amid criticism
Conduct supervisor admits supervisory model for small firms has been "under strain" as three directors quit; critical report due to be published this week
New payments regulator in UK may have uneasy relationship with BoE
Treasury committee highlights potential for conflicting objectives between newly formed payments regulator and the Bank of England; Tyrie says independence ‘pretty heavily circumscribed’
UK bank reforms may be ‘diluted’, warns parliamentary commission
Former members of the Parliamentary Commission on Banking Standards warn regulations are at risk of being misinterpreted, diluted by lobbying, or applied incorrectly
Time for clock synchronisation – regulators
Global regulators assess the need for a central reference clock to aid investigations into alleged abuse of financial markets
Bank of England unveils plans to lock up bankers' bonuses for seven years
New rule will mean financial sector bonuses can be 'clawed back' for up to seven years, but the BoE is also proposing bonuses are locked up until that period expires
Cut in capital requirements opens door for new UK banks
Regulators say efforts to lower barriers of entry for small banks, including lower capital requirements and easier application process, is spurring competition
BoE introduces ‘ground-breaking' macro-pru measures to prevent housing bust
Mark Carney unveils a cap on high loan-to-income mortgages and affordability test; influential MP calls it a ‘major departure' for UK financial policy
Bank of England joins with UK Treasury in sweeping financial markets review
Markets review initiated by government, which includes the central bank and Financial Conduct Authority, will look at conduct and transparency in financial markets
No full disclosure on FX scandal in 2014, says FCA's Wheatley
Martin Wheatley, head of the UK's Financial Conduct Authority, says ongoing investigation unlikely to be concluded this year; laments prevailing culture of ‘ethical flexibility'