Regulators fine RBS £56m for major IT failures

The FCA and Prudential Regulation Authority have today jointly fined Royal Bank of Scotland Plc (including NatWest and Ulster Bank) a total of £56m for IT failures in June 2012 which prevented the banks' customers from accessing banking services for several weeks.

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New rules to tackle bank failures and hold bosses to account

Today marks a "fundamental change" in regulators' ability to hold bank bosses to account, according to the FCA's chief executive, as plans to stamp down on poor practice were set out.

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Regulators to be placed under microscope in review

Financial regulators are to come under the spotlight as the Government seeks to ensure they are being as efficient, fair and transparent as they need to be. Read more...

'Regulators must show they are value for £664m cost'

The National Audit Office has called for the two regulators set up last year to replace the Financial Services Authority to show value for money after forecasts showed their combined annual cost is £664m. Read more...