UK retail banks to provide annual reporting on business models to FCA
( May 29, 2026, 13:09 GMT | Official Statement) -- MLex Summary: UK retail banks and building societies are set to send annual regulatory reporting on their business models to the Financial Conduct Authority, under a policy released on Friday following a consultation. The annual reports will replace the practice of sending ad hoc submissions to the regulator. The FCA said collecting the data infrequently had made it a challenge to keep its understanding of the retail banking market up to date. The watchdog expects 36 firms to be in scope in 2026. The new rules will come into force on June 1.Statement is attached....
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