Prudential Regulation Authority (PRA)
UK government launches plan to improve BoE governance
Bank of England Bill proposes changes to committee structure, adjustments to the Court, establishing new roles and axing old ones, and audits to assess value for money
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
UK’s PRA gives small bank managers an easier ride
Prudential Regulation Authority finalises first phase of Senior Managers’ Regime, giving some concessions to small firms; more rules set to follow later this year
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
BoE appoints two executive directors
Alex Brazier and Sam Woods take responsibility for financial stability and insurance, respectively; Brazier fills role left vacant by departure of Spencer Dale
BoE’s Bailey slams European bonus caps
Deputy governor expresses ‘dismay’ at debate that misses what he sees as key points in designing appropriate incentives; points to flaws in Basel capital standards
BoE's Fisher underlines need for co-ordination between top committees
PRA deputy head says choices of one committee ‘will affect the choices of the others' and a common understanding of the economy is vital
BoE's Bailey calls for ‘much more systematic approach' to financial sanctions
Bank of England's senior prudential regulator recognises need for clear understanding of when and to whom sanctions apply; calls for greater international co-operation
Bank of England sets out rules for foreign bank branches
Branches lacking credible resolution plans could have their licences revoked, bank warns; insurance executive joins Prudential Regulation Authority board
PRA highlights restrictions on group own funds
Implementation note says capital instruments issued by third-country undertakings must conform to Solvency II to qualify as loss absorbing
BoE appoints UBS UK head to top banking regulator
Bank of England appoints two new members to the Prudential Regulation Authority, the country’s chief micro-prudential regulator
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
BoE's Andrew Bailey says Basel III will be more transparent in the future
Head of the Prudential Regulation Authority also argues level of ‘precision' for rules sought by banks and investors ‘is not realistic'
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
Balkanisation a ‘real threat' to globalised banking, says PRA head Bailey
Bank of England deputy governor and head of the Prudential Regulation Authority warns that essential global financial services are under threat, in Directory of Financial Regulators 2014 foreword
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'
Bail-in rules the 'bedrock' of European banking union, says BoE's Cunliffe
Head of the UK's Prudential Regulation Authority also cautions that despite far-reaching reform efforts, regulators would struggle to resolve 'a failing global giant'
BoE floats bonus clawback plan
Prudential Regulation Authority issues consultation on new powers to claw back bonuses in case of misconduct; Katharine Braddick reiterates ‘misgivings’ about bonus caps
BoE to create new deputy role amid FX rigging controversy
Bank of England will create new deputy governor post to get a better grasp of financial market dynamics, Mark Carney said in hearing yesterday
Banks could be forced to leave UK if home regulators are found wanting
Draft rules published today by the UK banking supervisor put pressure on non-EEA countries to up supervision of banks that want to do business in London
People: Slovakia puts financial markets head on the board; director re-appointed to the UK's PRA
The National Bank of Slovakia's executive director for financial markets has joined the central bank board; Charles Randell re-appointed to the Bank of England's PRA; and more
Bank of England says BBA could co-ordinate response to banking cyber attacks
Sweeping exercise aimed at preparing UK banks against attacks against financial infrastructure by ‘hostile nation state' also sees some firms struggle with new dual regulatory structure
Bank of England to lay off up to 100 staff
The central bank is looking to save £18 million over the next three years by making operations leaner; union representatives ‘strongly' oppose resulting redundancies