Following today’s announcement that Barclays chief executive James ‘Jes’ Staley will be fined £642,430, his employer has cut his total remuneration package by £500,000.

The FCA and PRA have jointly fined James Staley £642,430 and announced special requirements on whistleblowing systems and controls at Barclays Bank.

The Treasury has today launched an independent review of the prudential supervision of the Co-operative Bank between 2008 and 2013.

The Association of British Insurers has voiced unexpectedly strong criticism of the latest Prudential Regulation Authority proposals which it warns is planning to further increase reporting burdens for insurers.