Written statements to the PRA on RFTS

This page provides information about how to serve the PRA with copies of written statements to a firm’s ring-fencing transfer schemes (RFTS).

Why is the PRA served copies of written statements to a firm’s RFTS?

Persons alleging they would be adversely affected by the carrying out of an RFTS are entitled to be heard by the court if, before the final hearing, they file (or lodge in Scotland) their written statement with the court and serve copies on the PRA and the firm whose business is to be transferred (section 110(5) Financial Services and Markets Act 2000).

The firms have provided further information on their websites about how persons can file their written statements, and by when this must be done. The deadline will be different for each firm. Please see the specific firm's website for information on how and by when you can serve a copy of your written statement on the firm:

  • Barclays Bank Plc
    Please note: the period for making a written statement to the court in relation to Barclay's RFTS has now ended and the PRA's objections portal for Barclay's RFTS has closed. 
  • Royal Bank of Scotland Plc
    Please note: the period for making a written statement to the court in relation to Royal Bank of Scotland's RFTS has now ended and the PRA's objections portal for Royal Bank of Scotland's RFTS has closed. 
  • Lloyds Banking Group Plc
    Please note: the period for making a written statement to the court in relation to LBG's RFTS has now ended and the PRA's objections portal for LBG's RFTS has closed.
  • HSBC Bank Plc
    Please note: the period for making a written statement to the court in relation to HSBC's RFTS has now ended and the PRA's objections portal for HSBC's RFTS has closed.
  • Santander UK Plc
  • National Westminster Bank Plc

More information about our approach to RFTS can be found in the PRA Statement of Policy ‘The implementation of ring-fencing: the PRA’s approach to ring-fencing transfer schemes’.

How to serve written statements on the PRA

Written statements can be served on the PRA in the three ways listed below. When preparing your written statement, please include:

  • the name of the bank to which your written statement relates
  • your contact details so that the PRA may issue an acknowledgement of receipt.

Please note that we will not provide responses to the written statements we receive.

  1. Through a dedicated website. Please submit your written statement through: PRA written representations (objections) on ring-fencing transfer schemes 
  2. By post. Please send a copy of your written statement to:
    Written statements to the PRA on RFTS (MG1-SE)
    Prudential Regulation Authority
    Bank of England
    Threadneedle Street 
    London EC2R 8AH
    Where contact details are provided an acknowledgement of receipt will be issued by the PRA.  
  3. Delivered by hand. Please address the copy of the written statement as set out for ‘by post’ and hand it in to:
    Bank of England
    Threadneedle Street 
    London EC2R 8AH
    Where contact details are provided an acknowledgement of receipt will be issued by the PRA.  

Privacy notice

Collecting personal information

By serving written statements on the PRA, by email, by post or delivered by hand, the Bank of England (‘we’ or ‘the Bank’) will be the recipient of personal data that you may have provided. This personal data includes your name, email address and/or other contact details, post code and your written statement.

Why the Bank needs your personal data

The Bank receives your personal data because you have made a written statement about the adverse effect of a firm’s ring-fencing transfer scheme. A copy of that statement (which may include your personal data) is served on the PRA, a part of the Bank, to give effect to your entitlement to be heard by the court. 

What the Bank does with your personal data

The Bank is in possession of your personal data as a result of you serving your written statement on it.

We will assess your written statement and use the information that you have supplied to assist it in carrying out the PRA's statutory functions under the Financial Services and Markets Act 2000. We may refer to the substance of your written statements in the RFTS court proceedings.

We will share the full details of your written statement with the Financial Conduct Authority (FCA), in order for the FCA to identify all potential impacts of the firm's RFTS on its objectives (particularly relating to consumer protection) and for the FCA to respond appropriately if necessary in court proceedings relating to the RFTS. The FCA's views of written statements will also assist the PRA in carrying out its statutory functions under the Financial Services and Markets Act 2000.

We may also share the full details of your written statement with the regulated firm to which your written statement relates and with the courts in England and Wales, and in Scotland. This is necessary to aid the reconciliation of written statements that have been filed (in Scotland, lodged) with the court, served on the PRA and the firm whose business is to be transferred (unless otherwise directed by the court).

We do not intend to use your personal data for any other purposes.

Your written statement, including personal data provided will be assessed and processed in the United Kingdom by the Bank. We will keep it for so long as the RFTS to which your written statement relates has been concluded (and, if applicable, for such further reasonable period to ensure our functions can be fulfilled).

Your rights

You have various rights under data protection laws. For instance, you have the right to ask us for a copy of the personal information that we hold about you. This is sometimes known as a 'Subject Access Request'. In some circumstances, for instance where information about you is inaccurate or out of date.

You may also have the right to have your personal information rectified or erased.

If you want to contact us in relation to any of these rights, including if you want to make a request for the personal information we hold about you, please address your enquiry to:

The Information Access Team (HO-M)
Bank of England
Threadneedle Street
London EC2R 8AH

Email: enquiries@bankofengland.co.uk 

If you are not satisfied with the response or believe we are not processing your personal data in accordance with the law you can complain to the Information Commissioner’s Office (ICO).

More information

The Bank’s Data Protection Officer can also be contacted via the details above. Our privacy policy is also available on the website.

Further information on structural reform (also known as ‘ring fencing’) is available on the dedicated Structural Reform webpage.

This page was last updated 22 May 2018
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