Two policy statements relating to this Occasional Consultation Paper were issued on 19 December 2013 - PS6/13 and 30 January 2014 - PS1/14.
This Occasional Consultation Paper (OCP) proposes miscellaneous and minor changes to the Prudential Regulation Authority (PRA) rules, including further rule amendments related to CRD IV, and material on the PRA’s proposals to create a Rulebook.
The OCP chapters are:
- Close Links and Controllers report
- Mortgage lenders and administrators return
- Removal of the designated investment exchange regime
- Interim Prudential sourcebook for Insurers and the Interim Prudential sourcebook for Friendly Societies
- FSCS protection for large unincorporated associations’ deposits
- Related party transaction
- CRD IV consequential and minor amendments
- Initial capital exemption for small credit institutions
- The online Rulebook
This OCP is relevant to banks, building societies, PRA-designated investment firms and PRA-regulated firms in some respect; the particular relevance of each chapter is detailed in the overview of each section. Where relevant, related draft rules are attached in the appendices.
This consultation closed on the 1 November 2013. Views are welcome on all issues raised in the OCP. Respondents are requested to structure responses on a chapter by chapter basis and comments or queries should be sent to: OCPresponses@bankofengland.co.uk
The PRA intends to publish policy statements with feedback on the OCP and CP5/13, finalised rules and final supervisory statements in December 2013.