BoE: Final Notice; Vocalink Limited
BoE has fined the firm £11,900,000 in respect of a compliance failure under s196 of the Banking Act 2009 – this is the first time BoE has fined a financial market infrastructure firm. The firm was required by BoE to remediate a number of identified systems and controls issues. Although the firm implemented a remediation programme, BoE states that an ineffective risk management framework, combined with weaknesses in its controls, governance arrangements and escalation processes meant that the firm failed to comply in full with requirements by the deadline.
Last updated · 13 Mar 2026
Regulatory News - Financial Services & Regulation
See allHMT: Speech by Rachel Reeves
Text of Rachel Reeves’ speech of 9 June 2026 follows in which she notes that she will publish the Financial Services AI Adoption Plan in her Mansion House speech on 14 July 2026.
HMT: Access to banking services review
HMT has now published the call for evidence for the review, which will consider evidence of the challenges faced by those who need in-person banking services. Responses are required by 20 July 2026.
HoL: Financial Services and Markets Bill
The second reading of the Bill took place on 8 June 2026, with Committee stage set to begin on 22 June 2026. A link to the Hansard transcript of the debate may be accessed via the second link below.
FCA: CP26/18: Mortgage Rule Review – supporting first-time buyers and underserved consumers
FCA is proposing changes in the following areas: interest-only and part-and-part mortgages; retirement interest-only mortgages; variable and irregular income; foreign currency loans; credit impaired; bridging loans. Responses are required by 28 July 2026.
FCA: Mortgage Rule Review – research and blog
Alongside CP26/18, FCA has published research on mortgage arrears risk among UK first-time buyers and a blog by Emad Aladhal.