This Occasional Consultation Paper (OCP) proposes miscellaneous and minor amendments to Prudential Regulation Authority (PRA) rules and supervisory statements.
This OCP is relevant to PRA-regulated firms. The particular relevance of each chapter is detailed in the introduction to each chapter. Where relevant, related draft instruments and supervisory statements are attached in the appendices.
The OCP chapters are:
1. Amendments to Rulebook Parts relevant to the Society of Lloyd’s
2. Amendments to SS13/13 on market risk
3. Amendments to SS12/13 on counterparty credit risk
4. Consequential amendments to the Senior Managers Regime (SMR) and the Senior Insurance Managers Regime (SIMR)
5. Amendments to definitions related to credit unions
The amendments proposed in this CP to SS13/13 and SS12/13 should be read alongside CP29/15 ‘Occasional Consultation Paper’, August 2015 (see Related Links).
Responses were requested by:
Wednesday 25 November 2015 for Chapter 1;
Monday 11 January 2016 for Chapters 4 and 5; and
Thursday 11 February 2016 for Chapters 2 to 3.
Please address any comments or enquiries to the PRA at OCPresponses@bankofengland.co.uk
by the response deadlines for the chapters as set out above. In addition, please also address any comments or enquiries on proposals contained in Chapter 4 to the FCA at firstname.lastname@example.org
The PRA intends to publish policy statements with feedback on the OCP, finalised instruments and final supervisory statements in due course, with the FCA where stated.
On 15 February 2016 the PRA published PS5/16 - Strengthening accountability in banking and insurance: Implementation of SM&CR and SIMR; and PRA requirements on regulatory references. See related links.
Final policy in relation to this consultation is available under related links.