Frenemies at the gates − speech by Rebecca Jackson
Why this matters
This speech discusses the risks posed by the growth of principal trading firms and their relationships with banks. It highlights the operational and counterparty risks banks face due to the high-speed, high-volume trading activities of these firms, and the need for robust risk management frameworks and client due diligence. The speech indicates this is an area of focus for the regulator, making it a high priority issue for banks and other relevant firms.
AI-generated classification rationale, not a full analysis. Verify with the original BoE source before acting. Full disclaimer.
What the BoE said
Given at an event hosted by the Association of Foreign Banks
Published by BoE . Read the full notice at the source for the authoritative text.
Context
Bank of England (BoE) — UK central bank overseeing monetary policy and financial stability. We track 247 updates from them.
Financial services regulation in the UK, primarily overseen by the FCA and PRA. Browse all United Kingdom updates.
This update is classified under Prudential / Capital Requirements, Operational Resilience / Outsourcing, Technology & Cyber and Banking & Credit.