22 January 2021: Jointly with the FCA we published CP4/21 ‘Financial Services Compensation Scheme – Management Expenses Levy Limit 2021/22’. This CP is relevant to all FCA and PRA authorised firms. This consultation closes on Monday 22 February 2021. Please send any comments on the proposed MELL using the online response form on the FCA’s website.
15 January 2021: On Monday 14 December 2020 Melanie Beaman, Director of UK Deposit Takers Supervision hosted a webinar for the CEOs of the Non-Systemic UK Banks and Building Societies.
11 January 2021: We published CP2/21 ‘International banks: The PRA’s approach to branch and subsidiary supervision’. This CP is relevant to existing or prospective PRA-authorised banks and designated investment firms that are headquartered outside of the UK or are part of a group based outside of the UK. This consultation closes on Sunday 11 April 2021.
28 December 2020: We published Policy Statement (PS) 29/20 ‘Capital Requirements Directive V (CRD V)’. It provides the final policy to Consultation Paper (CP) 22/20 ‘Designation of firms within certain consolidation groups’. It also contains final PRA Rulebook instruments, Statements of Policy, Supervisory Statements, and templates as published in near-final form in PS26/20 ‘Capital Requirements Directive (CRD) V’.
This PS is relevant to UK banks, building societies, and PRA-designated investment firms, as well as UK financial holding companies, and UK mixed financial holding companies.
Jointly with the Bank of England, we also published PS30/20 ‘UK withdrawal from the EU: Changes before the end of the transition period’. This PS provides the final policy to CP13/20 ‘UK withdrawal from the EU: Changes before the end of the transition period’ and CP18/19 ‘UK withdrawal from the EU: Changes following extension of Article 50’ and contains final PRA Rulebook EU Exit instrument, PRA transitional direction and related guidance documents.
This PS is relevant to all firms authorised and regulated by the PRA. Some of the changes are also relevant to firms authorised and regulated by the Financial Conduct Authority (FCA), and to the Financial Services Compensation Scheme (FSCS). This PS and the accompanying materials may also be relevant to firms applying to the PRA or FCA for authorisation.
23 December 2020: We published ‘Key regulatory communications in December 2020’, which summarises all key EU-related PRA publications for firms.
18 December 2020: Jointly with the Bank of England, we published Policy Statement (PS) 27/20 ‘UK withdrawal from the EU: Changes before the end of the transition period’. This PS sets out the final policy from Consultation Paper (CP) 13/20 ‘UK withdrawal from the EU: Changes before the end of the transition period’ and CP18/19 ‘UK withdrawal from the EU: Changes following extension of Article 50’ and contains final EU Exit Instruments, the Bank transitional direction and updated statements and guidance documents. It also contains the near-final PRA Rulebook EU Exit instrument, PRA transitional direction and related guidance documents which are expected to be made final before the end of the transition period.
16 December 2020: We published our ‘Evaluation of the Senior Managers and Certification Regime (SM&CR)’ report, which sets out the findings of our review of the implementation of the SM&CR, to assess how it is delivering against its original objectives.
15 December 2020: We published: a letter from David Bailey and Rebecca Jackson on ‘International Banks Supervision: 2021 Priorities’ to Chief Executive Officers of PRA regulated international banks; a letter from Sarah Breeden and Melanie Beaman ‘UK Deposit Takers Supervision: 2021 Priorities’ to Chief Executive Officers of PRA regulated UK deposit takers; and a letter from Anna Sweeney and Charlotte Gerken on ‘Insurance Supervision: 2021 Priorities’ to Chief Executive Officers of PRA regulated Insurance firms.
9 December 2020: We published PS26/20 ‘Capital Requirements Directive V (CRD V)’. It provides feedback to responses to CP12/20 ‘Capital Requirements Directive V (CRD V)’ and CP17/20 ‘Capital Requirements Directive V (CRD V): Further implementation’. It also contains near-final Rules instruments, Statements of Policy, and Supervisory Statements.
This PS is relevant to UK banks, building societies, and PRA-designated investment firms, and UK financial holding companies and UK mixed financial holding companies of certain PRA-authorised firms.
