The Prudential Regulation Authority (PRA) Rulebook contains rules made by the PRA that apply to PRA-authorised firms. The Rulebook is available online (www.prarulebook.co.uk). The Rulebook aims to be consistent with PRA objectives, clear in intent, straightforward in its presentation and as concise as possible.
The Rulebook website has new functionality aimed at offering a much improved user experience. The new Rulebook website contains only content relevant to the PRA. The ability to view PRA rules ‘as at’ a historic or future point is more intuitive. In addition, search is improved, with better filters and more relevant results. The glossary is more user friendly and the ability to view all of the rules that are applicable to one type of firm in one place introduced. For example, glossary terms ‘pop up’ on the page when clicked, and users can navigate between glossary references to follow chains of definitions more easily.
The Rulebook has a new structure, better aligned with the PRA’s regulated community. The Rulebook is divided into three main sectors: Banking and investment, Insurance and Non-authorised Persons. The first two sectors contain sub-sectors divided into directive and non-directive firms. Most users will only refer regularly to the specific sector applicable to them. Once a user has identified the sector relevant to them, all applicable rules can be found within that sector.
Instruments – the definitive version of the rules
Section 138G of the Financial Services and Markets Act 2000 requires the PRA to exercise its rule-making powers in writing, in a document the Act calls a ‘rule-making instrument’, and to make all such instruments available. The PRA publishes its instruments online. This fulfils its obligation to publish its rules. The definitive version of the rules at any particular time is the version contained in the legal instruments. The instruments are consolidated into the Rulebook online.
Should users experience any issues accessing the rule-making instruments, these are available below by year.