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Forward-looking, judgement-based
- The PRA’s approach to regulation and supervision is forward-looking, judgement-based, and focused on the issues and firms that pose the greatest risk to the stability of the UK financial system and (in the case of insurers) to policyholders.
www.prarulebook.co.uk/guidance/statements-of-policy/sop---the-pras-allocation-of-decision-makingSoP – The Prudential Regulation Authority’s allocation of ...
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PRA’s approach to supervision of the banking and insurance sectors Our approach documents set out how we carry out our role in practice. They are designed to help regulated firms and the market understand how we supervises these institutions, and to aid accountability to the public and Parliament.
- Supervision
The PRA's approach to supervision documents. Regulating...
- SS5/21
This Supervisory Statement (SS) sets out the Prudential...
- Supervision
- Regulating Smaller Firms
- Our Approach to Supervising Smaller Firms
- Contacts For Smaller Firms
We take a different approach to supervising the smaller firms that we regulate, due to their limited potential to cause harm to the financial system. Credit unions, small overseas banks, small overseas insurers and mutual insurers are our lowest category of potential impact. At an individual level, these firms have little capacity to cause signific...
Our supervisory approach for smaller firms includes: 1. supervising firms on a portfolio basis using automated tools to analyse your regulatory returns 2. examining individual firms when a risk crystallises (as discovered through, for example, a visit to the firm, or an approach from the firm itself), or in response to authorisation requests from t...
These firms do not have a named supervisor. Instead, they should contact our Firm Enquiries Team at PRA.FirmEnquiries@bankofengland.co.ukor by phone on +44 (0)20 3461 7000.
Oct 15, 2024 · This Supervisory Statement (SS) sets out the Prudential Regulation Authority’s (PRA) expectations for receiving information concerning the risks in the wider group and co-operation from other supervisory authorities concerned with the firm or its wider group.
1 day ago · The PRA’s approach to supervision, including the use of its powers, is set out in the approach documents. The culture of a firm contributes towards its ability to meet its Threshold Conditions, the minimum requirements that firms must meet in order to be permitted to carry on the regulated activities in which they engage; and the PRA’s Fundamental Rules, which set out at a high level the ...
The Prudential Regulation Authority (PRA), as part of the Bank of England, is the United Kingdom’s prudential regulator for deposit-takers, insurance companies and designated investment firms. This paper sets out how the PRA carries out its role in respect of deposit-takers and investment firms.
Oct 15, 2024 · This Prudential Regulation Authority (PRA) Policy Statement (PS) provides the final PRA Rulebook instruments, Statements of Policy (SoPs), Supervisory Statements (SSs), and reporting templates and instructions, which were published as near-final in PS17/21 ‘Implementation of Basel standards’. It also contains the analysis supporting the PRA ...
Jun 10, 2024 · The PRA’s approach to new and growing bank supervision aims to facilitate competition, in support of its secondary competition objective. Competitive markets involve firms being able to enter and exit.
