In a lawsuit filed on June 25 New York attorney general Eric Schneiderman has claimed that Barclays gave false statements to clients about how, and for whose benefit, the firm operates its dark pool. Mr Schneiderman accused Barclays of processing market data so slowly as to allow high-frequency traders to engage in predatory activity.

The Financial Stability Oversight Council is concerned over the use of captive reinsurance to finance reserves for life annuities.

The European Banking Authority has revealed its intention to conduct annual benchmarking of risk weights modelled internally by banks. This follows studies in 2013 that revealed the extent of variation in results for market and credit risk-weighted assets calculated using the internal ratings-based approach. 

Insurance firms are the latest institutions to be scrutinised by UK regulators under newly introduced regulations.