Related topic: PRA

The error resulted in UKI Limited overstating its solvency to the PRA and to the market.

Braddick will take the helm at the PRA and also become deputy governor for prudential regulation at the Bank of England.

The bonus deferral period for senior bankers will be cut from eight years to four.

The PRA says any amendments it decides to take forward "would represent less complex regulatory requirements for many firms".

The PRA says Hambro failed to act with 'due skill, care and diligence'.

The PRA is consulting on raising the leverage ratio threshold to £70 billion retail deposits.