Andrew Bailey
Brexit should not lead to restrictions on financial trade – FCA’s Bailey
If UK and EU work hard to maintain similar regulations, Brexit need not lead to restrictions on open markets and free trade, says FCA chief executive
Big data could create divisions in society – FCA’s Bailey
UK FCA chief says in some ways more accurate modelling of behaviour is a good thing, but it could also be damaging in terms of access to insurance for some groups
Banks not fully adapted to new prudential environment – BoE deputy
Firms need a “proper chance” to adapt to the “new world”, says Woods, warning that the banking system still looks fragile on some metrics, despite work by his predecessor, Andrew Bailey
Andrew Bailey looks to reboot UK conduct regulator’s ‘mission’
New chief executive seeks to clarify approach after stumbles in past years, admitting global understanding of conduct regulation still at an early stage
Andrew Bailey warns of macro impact from pensions trouble
FCA chief says low interest rates and other factors shaping the pensions market are likely to have knock-on effects on the economy, though the area is not well understood
Andrew Bailey wants well understood FCA mission
The Financial Conduct Authority has statutory objectives and publishes an annual business plan, but there is “not a lot in between”, he says; new chief wants to run the institution “effectively and tightly”
Regulators can influence but not prescribe culture, Bailey says in last speech at PRA
Incoming FCA chief warns bank regulators cannot write a rule to “settle” culture, but cites the senior managers regime as an example of influence
FCA chairman defends selection process for new chief
Griffith-Jones questioned on the decision not to interview Andrew Bailey before his appointment as chief executive; says he would have raised any concerns about process with Osborne
Parliament gains influence in FCA chief appointments
George Osborne says Treasury Select Committee will be able to scrutinise future appointments before they are formalised, with the ability to send them to the House of Commons for a vote
Sam Woods to replace Bailey as PRA chief
Bank of England executive director promoted, to take over from Andrew Bailey when he moves to the Financial Conduct Authority
BoE’s Bailey dismisses ideas for radical banking overhaul
PRA chief stands by the current design of banking regulation, rejecting more radical options involving higher levels of equity as “just not practical”
UK regulators refuse to comply with part of EU bonus cap
FCA and PRA say they will not be imposing European bonus cap rules on small firms, arguing CRD IV’s proportionality principle has not been properly applied
Bailey to move to FCA by July regardless of EU vote
BoE deputy governor gives deadline for move to the FCA, where he will become chief executive; questioned on the risks surrounding the UK referendum
BoE’s Bailey sets sights on balance sheet clarity
Clear disclosure of creditor hierarchies will be ‘critical’ moving forward, says Andrew Bailey; clarity in bank balance sheets is a ‘good thing’
Andrew Bailey agrees to lead FCA
PRA chief executive accepts top job at UK’s other financial regulator after being asked to take the role, but may not make the move for some months
HBOS investigation reveals possible ‘loose rivet’ in UK regulation
Accounting standards and auditing may be a weak point that is only just starting to be addressed, according to MPs at a parliamentary committee hearing on the failure of HBOS
Banks should improve tech infrastructure to aid stress testing, PRA officials say
Mark Yallop highlights demands on banks when assembling data, noting the 'generally poor state' of some technology infrastructures; Andrew Bailey says improvements would benefit all
Open Forum: BoE event highlights gulf between perception of public and regulators
Open Forum attempts to break new ground in communication, but a sense emerges that regulators have failed to address public dissatisfaction with financial markets
BoE’s Bailey stresses need for true understanding on boards
Andrew Bailey says executive board members should be responsible for explaining complex matters in simple terms, rather than leaving non-executives to figure it out for themselves
BoE’s Bailey considers how to foster competition
Bank of England deputy governor highlights the role of the PRA in fostering competition in the banking sector
UK’s Osborne defends ‘middle way’ struck by BoE bill
Finance minister tells MPs the decision to drop the reverse burden of proof avoids creating a two-tier regime; talks up value of BoE independence in response to concerns over NAO role
BoE’s Bailey defends dropping reverse burden of proof
PRA chief says decision to backtrack on key element of senior managers regime makes the rules more robust; rejects suggestion he has been ‘cowed by the lawyers’
BoE’s Bailey considers relevance of macro-prudential tools in insurance sector
Deputy governor says there is a ‘good argument’ for a macro-prudential response to a situation where insurers are liquidating their assets on a pro-cyclical basis
Top EU court should dismiss UK bonus cap plea, says advocate general
Opinion rejects UK’s main legal challenge to EU bonus cap law and argues use of word ‘cap’ is misleading; UK Treasury says opinion ‘demolishes’ case for fixed ratio