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Home > Prudential Regulation Authority > Forms amended with immediate effect under powers of direction

Forms amended with immediate effect under powers of direction

18 September 2015


The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), together ‘the regulators’, are introducing a new accountability regime for deposit-takers, insurers and PRA-designated investment firms.

As part of implementing the new regime, the regulators have consulted on amendments to a series of forms used by firms and individuals relating to regulatory approval for certain roles. During this exercise, the regulators received feedback regarding the necessity of some of the questions asked in these forms.

Reflecting on that feedback, on Friday 18 September, the regulators issued a consultation paper (PRA CP35/15 – see related link) sets out proposed amendments to two forms for the new regime and to two forms used in the current Approved Persons Regimes. These changes alter the questions to ensure the regulators only require necessary disclosures from regulated firms, while ensuring the regulators remain able to properly assess the fitness and propriety of those we are required to approve.

CP35/15 also includes shared forms made under the regulators’ powers of direction under the Financial Services and Markets Act. The regulators have also today amended these forms with immediate effect. Please see CP35/15 for further information.

Appendix 1 of CP35/15 contains the forms amended with immediate effect under powers of direction.

CP35/15 Appendix 1: Forms amended with immediate effect under powers of direction (5.0MB)