Prudential regulation

The Bank of England prudentially regulates and supervises financial services firms through the Prudential Regulation Authority (PRA).

Prudential regulation rules require financial firms to hold sufficient capital and have adequate risk controls in place. Close supervision of firms ensures that we have a comprehensive overview of their activities so that we can step in if they are not being run in a safe and sound way or, in the case of insurers, if they are not protecting policyholders adequately.

The Prudential Regulation Authority (PRA) at the Bank of England is responsible for this prudential regulation and supervision of around 1,500 banks, building societies, credit unions, insurers and major investment firms.

Find out more about what the PRA does

Latest news and publications

5 December 2019: The Bank of England (Bank), Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published:

The PRA also published CP30/19 ‘Outsourcing and third party risk management’, relevant to all UK banks, building societies and PRA-designated investment firms, insurance and reinsurance firms and groups in scope of Solvency II, including the Society of Lloyd’s and managing agents, and branches of overseas banks and insurers.

These consultations close on Friday 3 April 2020.

18 November 2019: We (the PRA) and the Financial Conduct Authority (FCA) published ‘Decision Notices given to former CEO who paid excessive remuneration to his wife to reduce his tax liability’.

PRA publications

Consultations papers, policy statements, supervisory statements and statements of policy can be viewed individually by following the links below. Policy statements are published on the same page as the accompanying consultation paper

This page was last updated 05 December 2019
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