The parliamentary bill that could speed up the FCA Opinion It may not be as glamorous as performative rule-cutting, but the Financial Services and Markets Bill has the potential to speed up the FCA.
Global markets cheer to ‘gridlock’ after Democrats sweep US midterms Markets Global stocks rallied after the Democratic party swept the US midterm elections settings the country up for political “gridlock”. Democrats flipped control of both the House of Representatives and Senate, handing the party greater domestic control over US policy and introducing a major blocker to President Donald Trump’s agenda. In the US, a bill must [...]
City watchdog ‘stands ready’ to act on bank windfall tax Budget leak Regulation The boss of the Financial Conduct Authority has said he is prepared to investigate a potential leak of market-sensitive information that sparked a rally in bank shares hours before John Healey’s maiden Budget. In a letter to the Treasury Committee, Nikhil Rathi vowed to engage with Treasury and Cabinet Office officials over how the details [...]
Barclays begins early motor finance payouts as FCA sets ground rules November 3, 2026 Barclays will begin offering payouts to motor finance consumers ahead of the forthcoming legal battle after the City watchdog introduced its “minimum expectations” for lenders wishing to settle early. The bank said it would make payments using the Financial Conduct Authority’s (FCA) redress scheme methodology and acceptance would be optional. Once a consumer accepts the [...]
Barclays and Natwest layoffs signal start of banking’s AI job squeeze November 3, 2026 Barclays, Natwest, Lloyds and HSBC toasted to a £14n profit haul in the third-quarter but sweeping job cuts stole the show. Samuel Norman takes a look at what the last three months signal for the sector’s future. As bank leaders stepped up to the podium for third-quarter earnings, the agenda had already been set for [...]
Finance chiefs warn Treasury against delaying crypto strategy November 2, 2026 Nearly a dozen industry bodies have warned the Chancellor not to delay plans to develop a central strategy on the regulation and adoption of cryptocurrencies and digital assets ahead of a pivotal vote in parliament. Bosses from the likes of Innovate Finance, The City UK and Tech UK urged John Healey to recommit to publishing [...]
Natwest shares slump after muted quarter October 30, 2026 Natwest shares fell after the bank delivered its third-quarter following a muted quarter for profit growth. The FTSE 100 bank recorded a pre-tax profit of £2.2bn, broadly in line with internal consensus and up 1.9 per cent from the same period last year. Its stock fell some four per cent to 611p in early trading. [...]
Why the City isn’t buying a ‘time-limited’ bank tax hike October 30, 2026 John Healey may have opened Pandora’s Box with an increase to the UK bank surcharge. Samuel Norman looks at whether he will resist the temptation to extend it. Few things in British politics have proved to be as permanent as a “temporary” tax. When the Conservatives introduced the 25 per cent energy profits levy in [...]
City grandees call for revival of ‘animal spirits’ on Big Bang anniversary October 27, 2026 City grandees have called on the government to revive “animal spirits” in London’s capital markets and accelerate regulatory reform on the anniversary of the Big Bang. Industry leaders told City AM the City has enjoyed decades of success since the sweeping deregulation of the Square Mile in 1986 but Britain’s financial services industry is now [...]
Braddick sets out her vision for banking watchdog with £2bn overhaul October 22, 2026 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 [...]