The unprecedented pace of regulatory change in the financial services industry has led to substantial investment in the compliance function, but it needs greater support at board and executive levels in order to be effective.

Since the collapse of Lehman Brothers and the ensuing crisis, the global financial system is safer and more robust, with stronger governance and regulation. But there remain striking differences between the structure and governance of US and European banks, which only the next crisis will truly put to the test.

In the decade since the collapse of Lehman Brothers triggered the global financial crisis, governance and leadership roles in banking have been transformed for the better. But is it now time for banks to assess progress, and question whether it is necessary to reduce the regulatory burden and the increasingly one-size-fits-all approach taken by supervisory bodies?

Accounting’s watchdog ends investigation into PwC’s audit work at Barclays, deciding there is “not a realistic prospect” of an adverse finding.

Banking regulator has spotted banks involved in “regulatory arbitrage”, and says that boards should be responsible for keeping their institutions in line.