The inaugural UK-Australia Joint Financial Regulatory Forum was held on 24 September 2025, discussing priority areas such as regulatory reform, pensions regulation and digital assets.
Category - Supervision
Laura WilesUK and US launch financial services taskforce
The Chancellor and the US Treasury Secretary have unveiled a new Transatlantic Taskforce for Markets of the Future. The Taskforce will report via the Financial Regulatory Working Group on various recommendations to help...
Emma RadmorePRA updates on skilled persons and authorisations
The latest figures from the PRA show: it commissioned 3 skilled persons reviews in Q2 2025/6, one each on controls and risk management, prudential and tech and information management; and it achieved 100% compliance on...
PRA consults on reducing reporting requirements
The PRA is planning to delete 37 reporting templates to each the burden of regulatory reporting for banks. The proposals focus on templates inherited from EU requirements, which the PRA thinks are now either no longer...
Customers to receive £200m in motor insurance compensation
After the FCA found that some insurers were short-changing customers on stolen or written off vehicle claims, motor insurers have changed their settlement and compensation practices. The shift means that around 270,000...
FCA celebrates access to cash progress
The FCA has updated on progress a year on from the implementation of its access to cash rules, which require banks and building societies to assess and mitigate the impact of changes in cash services, like closing a...
FCA speaks on rebalancing risk to support innovation and growth
Kate Collyer – FCA chief economist – has delivered a speech on rebalancing risk to support innovation and growth. The speech stressed many of the points covered in the regulators 2025 – 2030 strategy...
FCA consults on applying Handbook rules to cryptoasset firms
The FCA has published a consultation on applying existing Handbook rules to firms conducting cryptoasset activities. Currently, the FCA’s rules for cryptoasset cover financial promotions and preventing financial...
FOI data shows reduction in e-money licences
Data obtained by business news platform City AM through a Freedom of Information request has revealed that as few as 6 authorised e-money institution (AEMI) licence applications have been approved by the FCA in the last...
PRA consults on further changes to insurance third-country branches policy
The PRA is consulting on further changes to its policy on insurance third-country branches. In 2024, the PRA revised its approach to third-country branches, introducing greater proportionality under the Solvency II...
FCA launches awareness campaign on motor finance compensation scheme
The FCA has launched a £1m campaign raising awareness of the motor finance compensation scheme the regulator is proposing. It aims to inform customers that they do not need to use a claims management company (CMC) or...
FMSB appoints technical director
The Financial Markets Standards Board (FMSB) has appointed Daniel Mayston as a Technical Director. Mayston previously spent 18 years at BlackRock as the managing director responsible for electronic trading and market...
FCA talks to Commons about motor finance
The FCA made one of its regular appearances before the Treasury Select Committee on 9 September. The session focused on motor finance. It updated the Committee that there were around 30 million agreements entered into...
FCA sets out good and poor practice on applications
The FCA has published a set of good and poor practices to help applicants for authorisation and registration. It focuses on 3 themes: having staff with appropriate skills, experience and capacity it is good where firms...
FCA to cut more reporting forms
The FCA has published its latest set of proposals for reducing the burden of regulatory reporting. It proposes to change the reporting frequency to annually for sections E (PII), G (training and competence) and M...
FCA publishes feedback on AI Live Testing
The FCA is launching AI Live Testing, and has published feedback on its Engagement Paper on the potential benefits, opportunities and challenges raised by its proposals. On the whole, respondents welcomed the...
New FCA Handbook site going live and solo
The FCA is soon to turn off its old Handbook site, and that viewers should now use the new site.
Treasury consults on payment systems regulation
HM Treasury is consulting on how it plans to integrate the PSR’s functions primarily within the FCA, following its announcement earlier this year. It wants the FCA to take on the PSR’s responsibilities so...
FCA responds to Lords Committee report on competitiveness and growth objective
The FCA has published its response to a House of Lords Financial Services Regulation Committee report which concluded that the regulators’ secondary international competitiveness and growth objective is being held...
FCA seeks views on providing fair access to LSE data centre rooftop
The FCA is seeking views on whether the LSE Group and the landlord of the LSE data centre building have hindered competition for low latency connectivity services (LLCS) between certain trading venues. At present, only...
BoE makes appointments to Financial Policy Committee
Stephen Blyth has been appointed, and Randall Kroszner reappointed, as external members of the BoE Financial Policy Committee. Professor Stephen Blyth is a British mathematician and academic. He will serve a three-year...
Treasury responds on regulators’ secondary objectives
HM Treasury has written to the Lords’ Financial Services Regulation Committee with its response to the Committee’s report on the FCA and PRA’s secondary international competitiveness and growth...
PSR publishes annual report and accounts for 2024/25
The PSR has published its annual report and accounts for 2024/25. Strategically, the PSR has been working towards integrating with the FCA. It has also been focussed on the NPV, innovation, competition and security, and...
BoE publishes guidance on requesting waivers and modifications from DSS rules
The BoE has published guidance on requesting waivers and modifications from its Digital Securities Sandbox rules. The document sets out the basic process the BoE will follow once a completed application is submitted...
BoE speaks on “multi-money” system
Sarah Breeden – Deputy Governor of Financial Stability at the BoE – has delivered a speech on innovation in money and payments at the Bank of England and Warwick Business School Innovation in Money and...
FCA removes more data returns
The FCA has continued its policy of reducing the burden on firms of submitting regulatory returns. Firms will no longer have to complete REP008 in respect of disciplinary action against non-senior managers for Conduct...
FCA confirms streamlining of regulatory publications
FCA has confirmed its plan to archive its older supervisory communications so that firms can find relevant current publications more easily. All its multi-firm and thematic reviews dated before 2022 will still be...
FCA investigates Drax Group
The FCA has confirmed it is investigating Drax Group. The confirmation follows an announcement by the company, and the FCA has provided no further details. The Drax announcement says the investigation is into...
FCA encourages boost to workplace savings
The FCA has taken action to help employers and savings providers offer workplace savings schemes in light of the Financial Lives Survey conclusion that around 30% o UK consumers have no, or less than £1000 in cash...
FCA publishes review of algorithmic trading controls
The FCA has published the results of its multi-firm review of principal trading firms’ compliance with MiFID Regulatory Technical Standards 6, which imposes requirements on investment firms engaged in algorithmic...
BoE publishes annual RTGS and CHAPS report
The BoE has published its annual report on the real-time gross settlement (RTGS) system and CHAPS. The RTGS Renewal Programme completed in April 2025, and introduced RT2, a new core ledger and settlement engine aimed at...
Employment update: other developments August 2025
There have been several interesting developments in the last month, which are summarised below. Unpaid internships: call for evidence The DBT has published a call for evidence, seeking evidence and views on unpaid...
Karen Plumbley-JonesEmployment legislation update August 2025
This month, we focus on the Employment Rights Bill. Parliament is in summer recess until early September, which means that the House of Lords and House of Commons do not conduct official business and no progress can be...
Employment cases update August 2025
This month, we look at Woodhead v WTTV Ltd and another where the High Court had to decide if the employer had breached its duty of care to an employee accused of sexual harassment. In Stedman v Haven Leisure Ltd, the...
Transition Finance Council consults on guidelines for funders
The Transition Finance Council is consulting on draft guidelines aimed at supporting capital allocation to transitioning entities across different asset classes and jurisdictions, with a focus on financing entities that...
John ConnorFCA publishes pension transfer process review
The FCA has published the results from its multi-firm review of life insurers’ pension transfer process. The review followed concerns that consumers were complaining of slow transfer times. The FCA surveyed 18...
Michael LewisFCA blogs on evolution of consumer credit
Alison Waters, director of consumer finance at the FCA, has looked at what the next decade holds for consumer credit. She noted the 2024 Financial Lives survey which found that 84% of UK adults had at least one credit...
PSR revokes SDs and issues new directions to Pay.UK and LINK
Following consultation, the PSR has published its decisions to revoke Specific Direction 2 and 2a, and Specific Direction 4 and 4A Earlier this year, the PSR also revoked Specific Direction 3, which required that all...
FCA publishes cyber resilience insights
The FCA has published some thoughts on good and poor practice arising from discussions with the Cyber Coordination Group during 2024. Key topics were: the reconnection framework and third party management: firms are...
FCA publishes authorisations metrics Q1 2025/26
The FCA’s authorisations operating metrics for April to June 2025 show that 12 metrics are green, 2 are amber and 1 is red. The 1 red category is due to 11 applications being determined after the statutory...
Trust Financial Planning enters liquidation
Trust Financial Planning Ltd has entered into creditors’ voluntary liquidation. Paul Stanley and Dean Watson of Begbies Traynor were appointed joint liquidators of the firm on 7 August 2025. In March 2025, the...
FCA blogs on leveraging the non-bank sector
Sarah Pritchard of the FCA has published a blog of her thoughts on use of leverage by non-bank financial institutions. She notes it is critical to the UK economy that these NBFIs are resilient and financially stable...
Appointed Reps regime to stay
The Government has decided, years after its predecessor sought views on the issue, that the Appointed Representatives regime should stay in place in its current format. However, it does recognise that poor oversight...
Regulators make changes to EMIR trade repository reporting
The Bank of England has finalised changes to the UK EMIR Trade Repository reporting requirements, which take effect from 26 January 2026. Meanwhile the FCA is consulting on new Q&As relating to counterparty...
Lords concerned at FCA motor finance redress scheme plans
The House of Lords Financial Services Regulation Committee has written to the FCA setting out a few concerns about the proposed scope of the FCA’s redress scheme in relation to motor finance commissions. Although, of...
FCA reviews transaction governance in wholesale banks
The FCA has carried out a review of transaction governance in 6 wholesale banks, seeing to check that firms have a clear framework and governance process for considering risks from transactions. It asked each bank to...
FCA review shows firms continue to see “off-channel” breaches
The FCA has carried out a review on how firms approach communications that take place outside of monitored and recorded channels. It carried out the review specifically with wholesale banks and other firms within scope...
FCA confirms new payments safeguarding rules… for now
The FCA has confirmed its reform of the safeguarding rules for payment firms. The new rules will take effect from 7 May 2026 (giving firms 9 months lead in) in the form of what the FCA now describes as a “Supplementary...
FOS publishes complaints data for Q1 2025/26
FOS has published its complaints data for Q1 2025/26. Key statistics include: 68,000 complaints processed within the first 3 months of the financial year, with lower levels of complaints about everyday financial...
FCA publishes multi-firm review on climate reporting rules
The FCA has published findings from its review of climate reporting by asset managers, life insurers and FCA-regulated pension providers. In 2021, the FCA finalised its climate disclosure rules, requiring the above...
FCA warns CMCs on motor finance promotions
The FCA has formally warned CMCs that they must ensure any financial promotions they put out about motor finance claims are Consumer Duty compliant. It has had increasing interaction with CMC firms and, between 1...
FOS motor finance appeal scheduled for September 2025
Following the much awaited Supreme Court judgment in the Johnson, Wrench and Hopcraft cases, FOS has announced that the Court of Appeal hearing on DCAs in motor finance will take place from 16 – 18 September 2025...
FCA enables retail access to crypto ETNs
The FCA has announced that firms will – as of 8 October 2025 – be able to give retail customers access to crypto exchange traded notes (cETNS). cETNS for retail customers must be traded on an FCA-approved...
FCA publishes latest Handbook Notice
The FCA has published its latest Handbook Notice (No 132), which includes amendments relating to: new rules to better capture non-financial misconduct in non-banks; the Public Offers and Admissions to Trading...
FCA to consult on motor finance redress scheme
In the light of the Supreme Court judgment of 1 August, the FCA has confirmed it will consult on a redress scheme. It says it is clear that there have been breaches of the law and its rules where motor finance firms did...
PRA calls for views on making residential mortgage market competitive
The PRA has published a discussion paper on a range of potential policy changes to the treatment of residential mortgage exposures under the internal ratings based (IRB) approach to credit risk. The paper arises from...
FCA calls for better use of friction in digital loan processes
The FCA has reviewed how firms design digital and in-app loan processes, and, while it has seen much helpful behaviour such as clear, simple language and explanations, it also found that some processes: lack the...
SRA and FCA warn claims managers over motor finance commission claims
The SRA and the FCA have put out a warning to relevant law firms and CMCs reminding them they must comply with the correct rules on handling motor finance commission claims. It warns that if, following the Supreme Court...
PRA consults on transferring CRR definitions to Rulebook
The PRA has published a consultation on PRA Rulebook Glossary definitions to replace those currently set out under the Articles 4, 4A, 4B and 5 of the Capital Requirements Regulation (CRR). The consultation follows HM...
Regulators identify 5 live “wider implications” issues
The latest log of wider implications issues that potentially affect large numbers of consumers, where there could be significant redress or where there is a risk of business failure identifies 5 recent, new and ongoing...
FCA appoints interim FOS chair
The FCA has appointed Liam Coleman as the interim chair of the FOS. His role will begin on 10 October 2025. Coleman has extensive financial services experience, including at the Co-Operative Bank, RBS and Nationwide...
FCA announces more firm failures
The FCA has announced that two more firms have failed: Argentex LLP, authorised to provide e-money and payment services and also wealth management, went into special administration under the Payment and EMI Insolvency...
FCA invites UK-Swiss cross border business interest
The FCA is using the Berne agreement to start inviting firms to express interest in providing cross-border services between the UK and Switzerland. The agreement will benefit wholesale firms, with UK wholesale insurance...
FCA finds poor practice in home and travel insurance claims handling
The FCA has published analysis showing that increases in the cost of motor claims – including higher prices for cars, parts, labour, energy, and more complex supply chains – have contributed to premium...
PRA creates webpage for low impact changes
The PRA has created a new webpage to list proposals for, and confirmations of, minor and low impact changes to its rules. Several amendments are under consultation until 2 September.
BoE and FCA reaffirm FMI oversight cooperation
The BoE and FCA have updated their MoU on the supervision of FMIs. In updating the MoU, the regulators wrote to Central Counterparties (CCPs), Recognised Investment Exchanges (RIEs) and Recognised Central Securities...
PRA finalises Rulebook restatement of CRR and Solvency II requirements
The PRA has published its policy statement on the changes to take effect on 1 January 2026 that will continue and in some cases finish the restatement of assimilated law into its Rulebook. The changes mainly affect:...
PRA updates on DyGIST
The PRA has confirmed that the 2026 Dynamic General Insurance Stress Test (DyGIST) will commence in May 2026. The PRA has set out the insurers it will invite to participate in the test, who together make up more than...
PRA updates on large exposures changes
The PRA has published its policy statement on some changes to its Large Exposures Part of the Rulebook. The changes relate to: exposures arising from mortgage lending; exempting exposures to the UK deposit guarantee...
Mansion House speech supports Leeds Reforms
The Chancellor’s Mansion House speech, delivered in the evening of 15 July, highlighted many of the Leeds reforms, and set out the Chancellor’s key priorities. She highlighted: for capital raising, recent changes to the...
Treasury consults on cross cutting regulatory reforms
HM Treasury has published the feedback on its consultation on the Financial Services Growth and Competitiveness Strategy, which has helped it form its 10 year plan. Part of the strategy is to make several cross-cutting...
PRA publishes measures to help mid-size credit institutions
ThePRA is planning some adjustments to its Basel 3.1 implementation to better help mid-size banks and building societies while maintaining market stability. The changes affect the Fundamental Review of the Trading Book...
Treasury publishes market and wholesale updates
In the wake of the Leeds reform announcements, HM Treasury has published: recommendations for the FMI Committee from the Chancellor, required under the BoE Act; guidance on the government’s approach to designating...
FCA confirms market reform and authorisation improvement plans
The FCA has outlined the steps it has already taken or is consulting on to reform UK investment markets, and has set out plans to speed up authorisation processes. It plans: to take 2 months off its current target times...
Government publishes plans to apply FSMA style regulation to the CRR
HM Treasury is progressing its work to apply the FSMA model to the assimilated laws for banks, building societies and investment firms. It has published a policy paper confirming its approach to implementing Basel 3.1...
Government, FCA and FOS to modernise redress system
The Government is consulting on FOS reforms. The reforms are designed to stop FOS acting as a quasi-regulator – most notably to ensure its decisions align more with FCA rules. Proposals include: adapting the...
Government and regulators consult on SMCR reforms
HM Treasury is consulting on SMCR reform. Specifically, it seeks views on: the removal of the Certification regime from the legislation that created the SMCR, something that was promised in the Mansion House speech in...
Government announces “Leeds reforms”
After the Edinburgh reforms, we now have the Leeds reforms! The Government has announced an ambitious package of measures to attract inward investment into the UK and financial services businesses. Rachel Reeves announced the UK’s first Financial Services Growth and Competitiveness sector plan. The plans include:
giving consumers support to invest;
create good skilled jobs;
encouraging banks to offer investment opportunities to people with cash in low-interest accounts;
encouraging the industry to highlight to consumers the opportunity to invest when they can – the Government says that, based on current trends, if consumers move �2,000 from low interest accounts into stocks and shares, they could be over �9,000 better off in 20 years’ time;
the BoE will allow more lending at over 4.5 times a buyer’s income and simplified FCA Rules, if adopted, will make remortgaging easier. The changes will also allow the Nationwide to make its “Helping Hands” scheme available to lower income borrowers – now the thresholds are �30,000 for solo and �50,000 for joint applicants (�5,000 lower than previously);
there will be a new government-backed Mortgage Guarantee Scheme to ensure high loan-to-value mortgages are available in times of economic uncertainty;
FOS will need to align its decisions more closely with FCA rules;
the SMCR will be radically streamlined;
the FCA is to review how the Consumer Duty affects and applies to wholesale firms;
the MREL threshold will be raised to �25-49bn;
the Basel 3.1 rules will come in from January 2027;
reform of the ring-fencing regime;
a major FPC review of bank capital requirements;
providing bespoke support to fintechs;
greater financial capacity for the British Business Bank; and
progressing the Berne Financial Services Agreement, so that it is fully implemented by the end of the year.
See our separate posts on some of these initiatives!
PSR publishes annual report
The PSR annual report focuses on:
that 99% of FPS transactions are now within Confirmation of Payee;
the APP fraud reimbursement reforms;
driving forward open banking; and
reaching milestones on card fee reviews.
FCA annual report highlights key stats
The FCA’s annual report highlights its work in several areas, including: to tackle financial crime and unauthorised financial services, it suspended, removed or blocked over 1,600 websites in 2024 – also working with...
BoE fines Vocalink £11.9m for compliance failure
The BoE has fined Vocalink Limited £11.9m in respect of a compliance failure under s.196 of the Banking Act 2009. This marks the first time that the BoE has fined a financial market infrastructure (FMI) firm. Vocalink...
PRA to review LTI limit rule and offers interim modification by consent
Following recommendations by the FPC, the PRA is reviewing the loan to income (LTI) ratio requirements, and offering a modification by consent in the meantime for firms to disapply the relevant rule. The current...
Financial Stability Report considers continued geopolitical risk and uncertainty
The BoE has published the Financial Policy Committee’s latest Financial Stability Report. The FPC found that risks and uncertainty associated with geopolitical tensions, global fragmentation of trade and financial...
BoE sets out thematic findings from 2024 Cyber Stress Test
The BoE has published a report setting out its thematic findings from the 2024 Cyber Stress Test, a voluntary exercise which involved providers and users of wholesale services to model the impact of a suspected cyber attack affecting transaction settlement.
The stress test used three variations of the scenario: a suspected cyber attack; a confirmed cyber attack; and a longer cyber attack.
Key findings included:
Financial stability decisions�– while participants had mature scenario modelling and response capabilities, they lacked a comprehensive understanding of the FPC’s Impact Tolerance and how potential impacts could lead to financial instability.��Firms are encouraged to consider actions to protect financial stability and manage systemic risk from operational disruptions;
Financial stability mitigation
Operational mitigation – some participants had not tested all available workarounds for processing payments, highlighting the need for firms to collaborate with FMIs to ensure awareness and adoption of mitigation options;
Confidence mitigation – participants demonstrated good understanding of the Sector Response Framework (SRF) processes.��However, further work is needed to improve awareness of operational resilience contingency procedures among customer relationship managers and incident responders;
Financial mitigation -while capital is a fungible mitigant to losses, it does not mitigate operational disruption impacts. Service providers needed a better understanding of customer firms’ funding positions to meet liquidity needs during longer incidents;
Disconnection and reconnection – firms’ decisions about disconnecting from critical systems affect their ability to mitigate financial stability impacts.��It is important for firms to understand disconnection and reconnection options, align them with risk appetites, and reflect potential financial stability impacts in their playbooks.��The Cross Market Operational Resilience Group (CMORG) is working on defining best practice reconnection processes.
Treasury Committee to question insurance industry heads
The Treasury Select Committee will hold a one-off oral evidence session with the leaders of four major insurance firms on the state of the insurance industry. MPs are seeking to understand the main challenges, concerns...
Regulators increase mortgage lending threshold
The PRA has amended its Rulebook and the FCA has amended its Guidance on the de minimis threshold for the Loan to Income flow limit in mortgage lending. The Financial Policy Committee had recommended increasing the...
FCA publishes final Credit Information Market Study
The FCA has published its final report with its package of proposed remedies for the Credit Information Market Study. The remedies focus on: data quality; consumer awareness and engagement; competition and innovation;...
Regulators and Lloyd’s agree streamlined managing agent authorisation process
The PRA, FCA and the Society of Lloyd’s have agreed to streamline the regulatory approval process for Lloyd’s managing agents. The changes follow a successful pilot operated in the Lloyd’s market in...
FCA updates PEP guidance
The FCA has published its updated finalised guidance on the treatment of PEPs for AML purposes. The update follows its 2024 consultation, which noted that the old 2017 guidance was still basically suitable, but...
FCA updates fee rate movement chart
The FCA has published a chart that clearly explains changes to fee rates for the 2025/6 fee year and the reasons for the change. The FCA’s annual funding requirement has increased by 3.8%. The chart explains why some...
FCA launches beta testing of new website
The FCA has launched a beta version of its new Handbook website, which it hopes will make navigation easier and also make it simpler to see what has changed over time.
APPG on Fair Banking publishes APP report
The All Party Parliamentary Group on Fair Banking has published its “blueprint” on how to beat APP fraud. The report looks at how the UK is responding to threats and the early impact of the mandatory reimbursement...
PRA updates capital buffers framework
The PRA has issued its final policy�amending the UK capital buffers framework, which includes streamlining of policy materials to enhance usability and clarity.
The changes to the framework have been implemented as proposed, and include:
statement of policy on the PRA�s approach to identifying global systemically important institutions (G-SIIs) and setting G-SII buffers;
amendments to SoP � the PRA�s approach to identifying other systemically important institutions (O-SIIs);
amendments to SoP � the PRA�s approach to the implementation of the O-SII buffer;
reporting instructions for the purpose of identifying and assigning GSII buffer rates;
PRA Standards Instrument: The Technical Standards (specification of the methodology for the identification of Global Systemically Important Institutions) Instrument 2025; and
PRA Rulebook: CRR firms: capital buffers (consequential amendments) instrument 2025.
The updated framework will come into effect on 31 July 2025.
Committee launches inquiry into growth of private markets
The Financial Services Regulation Committee has launched an inquiry into the growth of private markets in the UK, following regulatory capital and liquidity reforms introduced after the global financial crisis in 2008...
BoE updates on digitalisation of finance
Sasha Mills has spoken on how the BoE is building a digital financial system for the UK. She considered the importance of trust in the markets, and the need for innovation to work alongside the existing system. She...
FOS complaints double in 2024/25
The FOS has published its complaints data for 2024/25, which shows that over 305,000 complaints were received – this is a 54% increase on the number received in 2023/24, and the highest yearly total of complaints...
FCA finalises non-financial misconduct rules extension and consults on guidance
The FCA has finalised new rules amending the scope of COCON to extend the existing non-financial misconduct (NFM) rules for banks to non-banks. Currently, COCON applies primarily, in respect of non-banks, to conduct forming part of the firm’s SMCR financial activities.
The FCA is also consulting on additional guidance in COCON and FIT. The draft guidance contains:
detail on the scope of COCON, including:
the boundary between work and private life;
when conduct is outside of a firm’s SMCR financial activities; and
when NFM may be out of scope in a non-bank;
factors to consider when determining whether NFM breaches the conduct rules;
examples of reasonable steps for managers to protect staff; and
explanatory material on how various types of conduct, including NFM, are relevant to FIT.
The consultation closes on 10 September 2025 and the made new rules amending the scope of COCON take effect from 1 September 2026, both in line with the conduct breach reporting period and to allow the FCA time to finalise any guidance it might want to make. The changes to COCON will not apply retrospectively, so will not require firms to do any retrospective analysis of whether they have incorrectly determined a rule breach in the past.� The FCA notes in its feedback that if non-banks had not appreciated the restricted scope of COCON and have disciplined an employee for conduct that they thought was a COCON rule breach, they should both update their past breach notifications and ensure they do not include any such breach in Question F of the regulatory reference form – although it may still be relevant under Question G.
The FCA has chosen not to take forward guidance on the relevance of NFM and discriminatory practices in firms to its assessment of their suitability to undertake regulatory activities (in COND), and guidance to remind firms that they may need to disclose NFM at work or in private life in a regulatory reference (in SYSC) – it believes its existing guidance on this point is sufficient.
BoE gives update on synchronised settlement plans
In light of BoE’s renewed RTGS service which went live on 28 April 2025, Victoria Cleland – Executive Director for Payments – has delivered a speech on synchronised settlement plans and initiatives in...
PRA hosts Future Banking Data roundtable
The PRA has hosted a roundtable with CFOs at large systemic firms to discuss the Future Banking Data project, which focuses on opportunities to develop and implement a long-term reporting approach for firms which is...
FCA speaks on harnessing AI and technology
Jessica Rusu has spoken on how the FCA plans to harness AI and tech to deliver its strategic priorities. It says that proper use can help it deliver on all 4 pillars, including helping firms to get new customers and...