Prudential Regulation Authority (PRA)
UK regulators fine Barclays chief for whistleblowing failure
PRA and FCA say Jes Staley undermined protections for whistleblowers; bank expected to implement stronger controls
UK regulators count cost of Brexit work
PRA and FCA devote additional resources to handling UK’s withdrawal from EU
People: ECB clears way for de Guindos
Governing council says it has “no objection” to the Spanish candidate; Bank of England’s David Thorburn resigns; RBNZ gains a board member
PRA’s Sam Woods rebuts 'myths' about Solvency II
Directive has neither “crushed growth” nor driven up prices, Woods argues; regulator will form subcommittee to discuss challenges with participants
UK regulators unveil rules for algo trading
PRA and FCA outline their approaches to supervising the ultra-fast trading methods
Banks running out of time to make post-Brexit eurozone applications
Banks looking to relocate should apply “by the end of the second quarter” – ECB supervisor Lautenschläger
Brexit could spell larger mandate for Bank of England – report
House of Lords report asks government to consider adding competitiveness to mandates of FCA and PRA
BoE commits to improving liquidity facilities
Report says central bank could do more to ensure smooth operations
BoE’s Woods warns of ‘point of tension’ in Brexit negotiations
PRA chief fears EU supervisors may adopt a local mindset when dealing with cross-border firms
People: Fed appoints new payments security strategy chief
Boston Fed vice-president to lead payments security; director of prudential regulation of UK banks to stand down; Kuwaiti governor to chair Council of the Islamic International Board in 2018; and more
BoE warns high court of insurance Brexit fallout
UK central bank expects number of insurers filing court claims to be three to five times the “normal level” following Brexit
BoE’s Woods: 75,000 Brexit job losses ‘plausible’
Deputy governor estimates 10,000 finance job losses on first day of Brexit, with wider long-term repercussions
People: Fijian interim governor appointed permanently, Azerbaijan deputy leaves
Fiji’s Ariff Ali appointed on permanent basis; Azerbaijan deputy steps down; Bank of England retains PRC members; and more
BoE paper mulls tensions in PRA competition objective
Paul Fisher and Paul Grout argue a secondary competition objective can be made to work without clashing with primary objectives
PRA’s tough line on Pillar 2 disclosure divides lenders
Watchdog seeks to level playing field with public disclosure of total capital requirements
UK banking sector faces higher costs after Brexit, report warns
Banks intend to minimise initial impact of Brexit in operations, but may be forced to move more personnel over time to maintain proximity to clients
PRA urges insurers to act on ‘silent cyber’ risks
Watchdog urges underwriters to embrace cross-policy stress-testing to identify exposure to claims from non-specified risks
PRA and FCA to investigate Barclays’ chief executive
Jes Staley comes under fire for undermining whistleblowing regime after he sought to identify a whistleblower; board to impose “very significant” cut to bonus
ECB may accept Brexit banks using UK models – Lautenschläger
Supervisor says a “hard Brexit” could see banks accepted on the basis of PRA-approved models
BoE’s PRA should clarify approach to insurance, report says
Report asks Prudential Regulation Authority to review boundaries of “policyholder protection”, warning the regulator not to stray into the FCA’s territory
People: Ireland deputy departs for private sector; BoE’s Broadbent to sit on new prudential committee
Cyril Roux to leave the Central Bank of Ireland in April; Mark Carney appoints Ben Broadbent to new prudential regulation committee; and more
BoE acts to tackle disparity in capital requirements
PRA plans measures it believes will boost competition and address adverse incentives generated by the standardised approach to calculating risk weights
UK’s PRA fines Japanese banking group for withholding information
Two arms of banking giant MUFG fall “significantly short” of regulators’ expectations, resulting in fines totalling £26.8m
UK financial regulators finalise plans to strengthen enforcement and transparency
PRA and FCA publish measures that will keep financial firms better informed about investigations; new framework will “command public confidence”