The Financial Conduct Authority (FCA) has welcomed the parliamentary commission on banking standards' (PCBS) recommendations for reforming the banking sector.
The FCA said it intended to take forward the majority of the report's 58 recommendations that relate specifically to the regulator. Among the recommendations was to double the time frame for building enforcement cases to six years and the introduction of a new senior persons regime, which would build on the current approved persons regime. The FCA said: "We welcome the recommendations of the PCBS and intend to take forward the majority of them. Many recommendations are in line with our approach to regulation and therefore endorse our commitment to being a forward-looking, judgement ba...
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