Braddick sets out her vision for banking watchdog with £2bn overhaul Banking Katharine Braddick has kicked off her revamp of the UK banking’s watchdog with a regulatory overhaul aiming to generate £2bn in savings for City firms. The Prudential Regulation Authority chief, who took the reins in July, told a City audience on Thursday evening the watchdog would focus on four key priorities of resilience, growth, innovation [...]
Lawyers warned they carry the can for juniors using AI Legal Lawyers have been warned they remain accountable for supervising AI use within their law firm, particularly when junior employees are operating the technology. The Law Society, an independent body that represents solicitors in England and Wales, issued new guidance on Wednesday setting out the appropriate use of AI in legal work, meaning lawyers cannot blame [...]
Lady Mayor: London can shape the global conversation on trusted AI Opinion As the UK prepares to host the G20 presidency in 2027, it has an opportunity to shape the global conversation on trusted AI, writes Susan Langley.
UK banks could unleash cash buffers to spur economy, says top Bank of England regulator October 15, 2026 UK banks are holding excessively large “rainy-day funds” that could instead be deployed to boost economic activity, according to a top regulator at the Bank of England. David Bailey, executive director of Prudential Policy at the Bank of England, told City AM the watchdog had kicked off talks with international peers over how to simplify [...]
Arrests after police and City watchdog smash ‘criminal insider dealing ring’ October 14, 2026 Three people have been arrested following a joint operation between top cops and the City watchdog following an investigation into a “criminal insider dealing ring”. Over 100 staff from the City watchdog and National Crime Agency (NCA) took part in raids on five residential premises across London and Manchester on Tuesday. Authorities seized more than [...]
Meta challenges Ofcom in court for ‘acting irrationally’ in fine and fee pricing October 13, 2026 Meta has challenged the UK regulator in court over how it calculates fees and fines under the UK’s online safety law, as it argued the methods are disproportionate and unlawful. The tech giant has questioned the media regulator, Ofcom, over its definition of ‘qualifying worldwide revenue’, which it uses to calculate financial penalties and fees [...]
We have to take difficult decisions with whistleblowers, says FCA boss October 13, 2026 The boss of the UK financial watchdog has said “difficult decisions” have to be taken with some whistleblowers after an investigation was triggered following the suicide of a banker who flagged alleged ties between Jeffrey Epstein and the US commerce secretary. Nikhil Rathi, the chief executive of the Financial Conduct Authority, told MPs on Tuesday [...]
Motor finance legal battle set for February 2027 October 13, 2026 The City watchdog has confirmed that the legal battle over its motor finance redress scheme will take place early next year following widespread backlash against its multi-billion-pound programme. The Financial Conduct Authority (FCA) will face challenges from three lenders, Volkswagen Financial Services, Mercedes-Benz Financial Services, and Crédit Agricole Auto Finance, as well as the advocacy [...]
Deloitte hit with £11m fine after missing £30m taxpayer fraud at UK transport giant October 8, 2026 Big Four giant Deloitte has been fined £11m for failing to raise concerns about fraud in its statutory audits of the transport business, the Go-Ahead Group (GAG), which operates multiple train services across the UK. The Financial Reporting Council (FRC) said on Thursday the fine, which was discounted to £6.05m for early admission and co-operation, [...]
UK AI health rules could give firms ‘competitive edge’ as ministers back overhaul October 6, 2026 Experts have said Britain’s new approach to regulating AI in healthcare could give UK tech firms a “competitive edge” by letting them prove their technology in the NHS earlier. The UK government on Tuesday accepted all 44 recommendations of the National Commission into the Regulation of AI in Healthcare, paving the way for a shake-up [...]