House of Lords lashes out at Labour for ‘eliminating’ its oversight of financial watchdogs Regulation An influential group of peers have hit out at the government for ditching the Lords’ oversight of financial watchdogs as part of legislation passed in the King’s Speech. Writing in her capacity as chair of the Lords’ Financial Services Regulation Committee, Baroness Noakes said the government had “eliminated” an “integral” part of the regulatory system. [...]
Lloyds hit with highest FCA complaints as finance firms fork out £240m Regulation Lloyds Banking Group led the pack as the most complained about financial services group in the second half of 2025 as the industry forked out a near-quarter of a billion pounds to dissatisfied customers. Across its subsidiaries, the FTSE 100 giant was hit with a storm of 187,516 grievances to the UK’s financial watchdog in [...]
UK banks blast regulations for ‘penalising’ good risk management Banking Top lenders have laid bare their frustrations with UK banking regulation in a bombshell new report that urges the removal of “excessive conservatism”. In response to the Bank of England’s review of capital requirements, the Association for Financial Markets in Europe (AFME) – which represents over 150 global banks, including the UK’s Big Four – [...]
Bank of England rebuffs calls to speed up ‘shadow banking’ stress test March 19, 2026 The Bank of England has rejected calls to speed up its inaugural stress test of the private credit industry, despite growing fears that a downturn in so-called shadow banking may pose a systemic threat to the global financial system. In a letter to the House of Lords’ Financial Services and Regulation Committee seen by City [...]
Peers warn ‘passive’ Treasury not aware of private credit risks January 9, 2026 The Treasury is being too passive about the risks posed to the economy by the rapid growth of private credit in the UK, according to an influential group of peers who accused ministers of “handing out the donkey work” of overseeing the sector to regulators. In fresh report examining the systemic risk posed by private [...]
London hot on New York’s heels as financial centre race ramps up September 25, 2025 London is now within a whisker of ousting New York as the world’s leading financial hub, fresh rankings reveal, but risks remain over the capital’s fintech prospects. The City was chomping at the heels of the Big Apple with just a singular rating point between the two. New York once more topped the rankings in [...]
Motor finance: Lords sound alarm on FCA’s redress scheme August 8, 2025 The House of Lords’ Financial Services Regulation Committee has sounded the alarm on “market uncertainty” around the UK financial watchdog’s upcoming motor finance redress scheme. In a letter addressed to the Financial Conduct Authority’s chief executive Nikhil Rathi, the committee “considers it of importance” to receive further insight into the forthcoming scheme. The City watchdog [...]
FCA boss sounds alarm on financial warfare and debt levels July 16, 2025 Rising sovereign debt and the growing risk of an attack on Britain’s financial infrastructure are the two biggest threats to UK markets, the boss of the Financial Conduct Authority (FCA) has warned, as he issued a clarion call for more data on the trading of government bonds. Nikhil Rathi told peers that the danger to [...]