Algorithmic Trading Global Market Report 2022: A $24.79 Billion Market by 2026 - Long-term Forecasts to 2031

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British banking damaged by slow supervisors warns industry report

Britain’s regulators can be slow, inefficient and unpredictable, raising costs and slowly damaging the financial sector’s global competitiveness, industry body TheCityUK said in a report. It said The Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA) were taking steps to speed up authorisations, but further action was needed. The report was based on interviews with 20 industry leaders and a survey of 40 firms, with 83% of respondents saying Britain’s international competitiveness was slowly being damaged by regulatory inefficiencies.