Prudential Regulation Authority enforcement activity between 1 January 2015 and 1 January 2020

We publish details of a selection of requests made under the Freedom of Information Act 2000, and the information we disclose in response.

Date: 3 July 2020

Disclosure:

The table below summarises the investigations opened, closed and continuing during the period 1 January 2015 to 1 January 2020 with a firm/group, or individual as the subject. This sets out the numbers for every single investigation, even where investigations are linked, for example, where the PRA investigates a firm and also a senior manager at that firm on a related matter, this would count as two separate investigations. The closed cases include investigations that were closed either with no action, with an enforcement decision or final notice, or any other outcome:

 Date   Investigations with a firm/group as subject  Investigations with an individual as subject
Opening position at 1/1/2015 3 2
Changes during 2015 Opened: 2
Closed: 2
Opened: 7
Closed: 2
Position at 1/1/2016 3 7
Changes during 2016 Opened: 0
Closed: 2
Opened: 5
Closed: 7
Position at 1/1/2017 1 5
Changes during 2017 Opened: 2
Closed: 1
Opened: 8
Closed: 0
Position at 1/1/2018 2 13
Changes during 2018 Opened: 6
Closed: 1
Opened: 6
Closed: 3
Position at 1/1/2019 7 16
Changes during 2019 Opened: 4
Closed: 3
Opened: 6
Closed: 6
Position at 1/1/2020 8 16
Section 166 of the Financial Services and Markets Act 2000 (‘FSMA’) is a not in itself a provision allowing for the appointment of investigators; section166 allows the PRA to obtain a skilled person’s report on a matter.  Section 166 does not endow the skilled person with investigative powers, unlike investigations opened under section 167 or section 168 of FSMA (for the avoidance of doubt, the table only includes investigations opened under section 167 and section 168).  Further information on Skilled Persons Reviews commissioned by the PRA, including quarterly statistics are available on our Supervision page.


The PRA publishes d
etails of the enforcement sanctions that it has taken to date, including links to the underlying Final or Decision notices which are available to view on our PRA’s statutory powers and enforcement page.

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