Martin Wheatley
Andrew Bailey agrees to lead FCA
PRA chief executive accepts top job at UK’s other financial regulator
People: Board changes at PRA; Rodriguez to lead Fed’s ‘faster payments’
Four new board directors to start at PRA, Fed gives Sean Rodriguez lead role for ‘faster payments’, CNB names new head of communications and more.
Martin Wheatley resigns as FCA chief executive
FCA chief quits after it emerges the UK chancellor will not be renewing his term next year; worldwide search begins for successor
FSB highlights ‘major steps’ toward reforming ‘Ibors’
Report finds administrators of Libor, Euribor and Tibor are making progress towards stronger interest rate benchmarks, with those in other jurisdictions advancing too
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
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
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’
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
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
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
US and UK regulators have no ‘informal agreement’ on fines, says FCA chief
Financial Conduct Authority chief Martin Wheatley denies existence of a formula agreement for fines imposed on financial institutions among US and UK regulators
Libor administration handed to NYSE subsidiary
Independent committee judges NYSE Euronext best placed to restore credibility in the tainted benchmark for interest rates; BBA will hand over after a ‘period of transition'
Stein and Wheatley to head up new FSB benchmarks steering group
Financial Stability Board sets up steering group to improve benchmarks; private sector invited to contribute to the review process
UK’s FCA faces serious challenges in meeting competition objective, survey warns
Industry survey highlights ‘scale of challenge’ for conduct regulator in promoting competition; says many measures taken so far may actually be anti-competitive
UK enters new regulatory landscape
UK’s new conduct and prudential regulators take over from the FSA and aim to avoid the failings of their predecessor
UK FSA finalises Libor regulations
Financial Services Authority produces final rules for regulating benchmarks, days before it will cease to exist; regulated firms will undergo compliance review by new watchdog in coming year
UK regulators back tough action on banking sector competition
FSA and FCA chiefs say new regulators will try to reduce banking sector concentration, including potentially breaking up large banks; Wheatley warns PRA and FCA may not see eye-to-eye on the matter
UK government appoints team to choose new Libor administrator
Committee to be led by Baroness Hogg and will include Martin Wheatley of the FCA and Paul Fisher of the Bank of England; recommendations expected later this year
FSA outlines plans for Libor reform
Regulator will directly oversee calculation of benchmark rate; could also compel banks to submit Libor fixings
UK’s Wheatley outlines behavioural foundations of FCA approach
CEO-designate of UK’s Financial Conduct Authority says regulator’s new approach will centre on behavioural economics rather than treating consumers as fully rational