Lord Mayor calls for ‘attitude shift’ in City October 22, 2025 The UK’s world-leading financial services sector must adopt a more positive attitude that puts innovation and entrepreneurial spirit at its heart, the Lord Mayor will say in a speech in which he is also expected to urge City regulators to redouble their efforts to slash red tape. In what will be some of his last [...]
Fintech industry takes aim at ‘logic-defying’ banking watchdog October 20, 2025 The industry body for UK fintech will today take aim at the banking watchdog in a scathing report that will blast “logic-defying” regulation. A fresh report from Innovate Finance, seen by City AM, will accuse the Prudential Regulation Authority’s (PRA) of “excessive” requirements that create an “uneven playing field for UK challenger banks, placing heavy [...]
Centrica CEO: Regulate energy bosses like top bankers October 16, 2025 The boss of the UK’s largest energy supplier has called for the sector’s chief executives to be regulated like bankers, despite the government’s high-profile drive to slash red tape in a bid to boost the economy. During an evidence session with the Energy Security and Net Zero Committee, Centrica’s Chris O’Shea told MPs he was [...]
Bankers to get bonuses much sooner as PRA relaxes rules October 15, 2025 Bankers will be able to collect their bonuses much sooner under a relaxation of remuneration rules unveiled by the UK’s prudential regulator. The new rules will allow part-payment of bonuses for the most senior bankers from year one, rather than year three under previous rules. The amount of time that senior bankers must now wait [...]
Revolut’s UK banking licence bid faces global risk scrutiny October 14, 2025 Revolut’s pursuit of a full UK banking licence has hit another stumbling block as regulators seek further information on the fintech’s risk controls in light of its accelerating overseas growth. Officials at the Bank of England have sought commitment from the digital banking juggernaut that it will bulk up its risk management infrastructure to match [...]
Mark Kleinman: Reeves heads outside in hunt for new banking watchdog October 9, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column Reeves heads outside in hunt for new banking watchdog File it under ‘Rachel Reeves’s headaches’. A search for Britain’s top banking regulator is about to get underway, and the word in Whitehall is that the chancellor [...]
Banking watchdog launches deregulation push as tax fears grow September 22, 2025 Britain’s banking watchdog has laid out plans to slash regulation across the industry in a bid to sweeten the sector’s operating environment. In fresh proposals hoping to cut the red tape on the sector, the PRA identified 37 “individual reporting templates” which have “overlapping and complex requirements” in a bid to ease the administrative cost [...]
Horizon fallout: How the SRA is turning up the heat on City firms August 19, 2025 Following the Post Office Horizon scandal, the SRA is turning up the heat on in-house solicitors. Here's what it means for City firms.
Bank of England unveils shake up of financial crisis banking rules July 15, 2025 The Bank of England has unveiled a sweeping package of reforms aimed at easing the regulatory burden on smaller and mid-sized banks, marking a major shakeup of the post-financial crisis rulebook. The central bank’s changes include a one-year delay to key parts of the Basel 3.1 reforms – the UK’s version of international banking rules [...]
Revolut banking licence bid goes down to the wire as key deadline looms July 8, 2025 Revolut is facing a fresh regulatory headache in the UK amid mounting expectations it may miss a key deadline in the ongoing process to become a fully operational bank. The digital banking juggernaut received the green light for its UK banking licence from Britain’s banking watchdog last year after a three-year wait, which triggered a 12-month [...]