In H2 2024 the total amount of redress was £236m.

The live testing service would allow firms to collaborate with the FCA while they check that their new AI tools are ready to be used.

The FCA proposes removing the EU-derived rules and to make them clearer and more accessible.

The support services provider has added support tracking to MARS.

The regulator says these returns "no longer serve a critical supervisory function". 

Rathi will serve a second five-year term as chief executive of the Financial Conduct Authority after initially joining the regulator back in 2020.

Nationwide is the first building society to gain this rating - which is the second of three levels firms can achieve through the programme. 

The regulator will let more firms know it is 'minded to approve' applications for authorisation when it thinks they can meet required standards.

The regulator is considering creating bespoke regimes for investment trusts and for venture capital firms.

Final rules could be in place as soon as H2 2025.