UK MPs will today hear details of the shake-up of banking regulation announced by Chancellor George Osborne in a bid to prevent a repeat of the financial crisis.

The head of City watchdog the Financial Services Authority is to step down in the summer, it was announced today.

The head of the City watchdog in the UK today said bankers had failed to take responsibility for the financial meltdown as he made a new call for reform in the industry.

The removal of a ban on the short-selling of UK financial sector shares will provide a further test to under-pressure banking stocks today.

Britain’s banks should make plans for an economic downturn as bad as the early 1990s, the head of the City watchdog said today.

The City watchdog pledged today to shake up its supervision of the UK’s largest banks after admitting a series of blunders in its handling of the Northern Rock crisis.

The era of cheap credit may be over forever, the chief executive of Britain's Financial Services Authority has warned.

The Financial Services Authority’s role in the Northern Rock crisis will come under fresh scrutiny today when heads of the City of London watchdog appear for a second round of questioning from MPs in the UK.