Britain's largest banking group on Friday called on U.K. officials to shorten governmental deadlines to approve senior managers and consider tasking a new agency with imposing enforcement penalties.
A U.K. financial regulator Monday outlined plans to expand its oversight of senior bank managers to include high-level non-executives, including chairs of risk and audit committees.
Britains top financial regulators defended their penalty regime Tuesday, arguing that the growing size of fines against banks reflects the scale of their violations.
The United Kingdom could begin using a powerful prosecutorial tool as early as next year in investigations of financial institutions suspected of facilitating money laundering and sanctions violations.
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