Prudential Regulation Authority

HSBC has been slapped with a £57.4 million fine by the Bank of England's Prudential Regulation Authority (PRA) for "serious failings" in safeguarding customer deposits over a seven-year period from 2015 to 2022. This marks the second-largest fine ever imposed by the PRA. The initial fine 

The Bank of England's Prudential Regulation Authority (PRA) has unveiled proposed amendments to the matching adjustment (MA) regime, a set of rules that could potentially release up to £100 billion for investment by the UK's largest life insurers. These proposals are part of a broader overhaul

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have fined TSB Bank (TSB) a total of £48,650,000 for operational risk management and governance failures, including management of outsourcing risks, relating to the bank’s IT upgrade programme. Technical

The Prudential Regulation Authority (PRA) has fiend Metro Bank £5,376,000 for failing to act with due skill, care and diligence in relation to the regulatory reporting of its capital position. The bank has also been fined for failings in its regulatory reporting governance, controls and invest

The Prudential Regulation Authority (PRA) has fined Standard Chartered Bank (SCB) £46.55 million for failing to be open and cooperative with the PRA and for failings in its regulatory reporting governance and controls in relation to a tailored PRA liquidity expectation. This is the PRA’s

The Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England are seeking views on regulatory plans to improve diversity and inclusion in financial services. In a discussion paper, the regulators have set out policy options including, among others, the use of targe

A Bank of England (BoE) official has warned that up to half of the £45 billion in loans issued to UK businesses under the bounce back loan scheme could go bad. Sam Woods, chief executive of the Prudential Regulation Authority (PRA), warned that UK taxpayers faced a 'significant loss' from the

UK regulators have fined Goldman Sachs almost £100 million as part of a $2.9 billion settlement with authorities around the world for the investment bank’s role in Malaysia’s 1MDB scandal. Yesterday, the Prudential Regulation Authority (PRA) fined the bank £48.3m —

The Bank of England (BoE) has asked UK banks if they are prepared for interest rates to fall to as low as 0.00001% or into negative territory as officials discuss whether to cut rates below zero to boost the economy. Sam Woods, head of the bank’s Prudential Regulation Authority, has written to

Worries are increasing at the UK's digital banks as the Bank of England sets a deadline for profitability.

Banks across the UK have seen their share prices drop as they were forced to freeze dividend payments and share buybacks after the Bank of England's Prudential Regulation Authority (PRA) called for the dividends to be suspended.

In response to the current COVID-19 situation, the Financial Conduct Authority (FRC), Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA) are today announcing a series of actions to ensure information continues to flow to investors and support the continued functioning of the

The Bank of England, Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have today published a shared policy summary and co-ordinated consultation papers (CPs) on new requirements to strengthen operational resilience in the financial services sector. Building the operat

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have decided to ban and fine Stuart Malcolm Forsyth, the former CEO of Scottish Boatowners Mutual Insurance Association (SBMIA) £78,318 and £76,180 respectively. The regulators found that between February