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Home > Prudential Regulation Authority
 

Prudential Regulation Authority

The Prudential Regulation Authority (PRA) is responsible for the prudential regulation and supervision of around 1,700 banks, building societies, credit unions, insurers and major investment firms. It sets standards and supervises financial institutions at the level of the individual firm.

The PRA's role is defined by three statutory objectives: i) to promote the safety and soundness of its firms; ii) specifically for insurers, to contribute to the securing of an appropriate degree of protection for policyholders; and iii) a secondary objective to facilitate effective competition.

Latest news and publications

​17.08.15 ​Solvency II: life insurance product reporting codes - SS36/15 and Solvency II: internal model reporting codes and components - SS37/15
(Supervisory statements)
​14.08.15 ​The PRA Rulebook: Part 4 - CP 28/15 and Occasional Consultation Paper - CP29/15
(Consultation papers)
​13.08.15 ​PRA publishes package of policy on strengthening accountability for insurers and UK branches of non-EEA banks
(News release, policy statements, supervisory statement and consultation papers)
​13.08.15 ​​PRA publishes consultation paper on the prudential regime for non-Solvency II insurance firms
(Consultation closes Monday 12 October 2015)

Key initiatives


The PRA and Financial Conduct Authority are developing the new Senior Managers Regime, Certification Regime and Senior Insurance Managers Regime for implementation in 2016. ​More »

​The Solvency II Directive for insurers will be implemented on 1 January 2016. Information for the UK insurance industry on preparing for the new regime is available in this section of the website. More »

​The Capital Requirements Directive and Capital Requirements Regulation (collectively ‘CRD IV’) came into effect on 1 January 2014 for banks, building societies and investment firms. Information about CRD IV and updates are available in this section of the website. More »
 

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