Date: 24 April 2018
On 7 April 2017, Sam Woods, Deputy Governor for Prudential Regulation and Chief Executive of the Prudential Regulation Authority (‘PRA’), which is part of the Bank of England (the ‘Bank’), issued a letter requesting that banks, insurers and designated investment firms undertaking cross-border activities between the UK and the rest of the European Union submit a short summary of their contingency plans for the UK’s withdrawal from the European Union. The number of PRA regulated firms who have submitted contingency plans to the Bank in response to Sam Woods’ letter are listed below. We are not expecting any further responses.
|Type of PRA regulated firm||Number of Contingency Plans received|
|Banks and designated investment firms||147|
|Non-life insurers/insurance groups
|Life insurers/insurance groups
|European Economic Area insurance firms and/or their home state regulators