Regulators publish barrier to entry report: PRA and FCA have published a review of the changes that came into effect last year to reduce barriers to entry to the UK markets for new financial institutions. The report shows that PRA authorised five new banks last year and held several discussions with potential applicants. The regulators also found the "mobilisation" option introduced to allow firms to start operating with restrictions while they complete certain elements of their business plan had proved useful. (Source: Regulators Publish Barrier to Entry Report)