LNB News 18/06/2025
Document Information
Issue Date: 18 June 2025
Published Date: 18 June 2025
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
The Bank of England (BoE) has published a speech by the Prudential Regulation Authority (PRA) executive director of prudential policy, David Bailey, delivered at Risk Live Europe. In the speech, Bailey outlined how the PRA is embedding its Secondary Competitiveness and Growth Objective (SCGO) into its regulatory framework to support innovation in the UK banking and insurance sectors. He emphasised that fostering innovation—while maintaining financial stability—is essential to enhancing the sector’s resilience, efficiency, and global competitiveness. The PRA aims to strike a balance between regulatory certainty and flexibility, enabling firms to invest confidently in emerging technologies such as artificial intelligence, digital payments, and cloud infrastructure.
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