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PRA (Prudential Regulatory Authority)
The notion of free banking is a “myth” that may ultimately encourage the mis-selling of financial products, Bank of England executive director Andrew Bailey has said.
Locating the Prudential Regulation Authority (PRA) close to the Bank of England will cost about £1m more a year than keeping it in Canary Wharf.
Newsflash: The ‘twin peaks’ regulatory regime doesn’t come in next year as you may have thought, but today. So, what does it mean for advisers?
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A shadow minister has pulled back from an attempt to amend legislation to ensure Financial Services Compensation Scheme (FSCS) costs are minimised.
The deputy chairman of the Conservative Party has expressed concerns about Hector Sants' proposed appointment as the head of one of the Financial Services Authority's successor bodies, and hinted at more dissent from fellow Treasury Select Committee (TSC) members.
The Association of British Insurers (ABI) has criticised the 'adversarial' remit of the industry's proposed new regulator, the Financial Conduct Authority (FCA).
The FSA's acting enforcement head, Tracey McDermott, has said the financial services industry is failing to heed the lessons of previous failures and "has no-one but itself to blame" for low consumer confidence in the sector.
A group of MPs have backed calls by the Financial Services Consumer Panel (FSCP) for firms to sign up to a 'fiduciary duty' under the new regulatory system.
A shadow minister has hit out at the changes already being made to the Financial Services Authority (FSA) and the regulatory landscape before Parliament has a chance to legislate on them.
The Financial Services Authority's judgement-based, twin peaks system must be embraced by the industry and lead to behavioural and cultural changes in both firms and regulators, according to Hector Sants.
An alarmingly high number of consumers do not know how to risk-rate standard financial products, such as equity ISAs and with-profits bonds, research suggests.
A draft report released by the FSA today has further detailed the relationship between the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).
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