The New Bank Start-up Unit is a joint initiative from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
Any firm that wants to be a bank (which means carrying on the regulated activity of accepting deposits) must be authorised to do this by the PRA. The PRA will only agree to authorise a firm if the FCA is also content for it to be authorised.
Download our guide to becoming a bank in the UK for everything you need to know about starting a new bank, from the pre-application phase to life after authorisation:
New Bank Start-up Unit seminar
PRA and FCA opens registration for the NBSU seminar on 19 February 2018 – please register your interest online by 12 January 2018.
Update 20 December 2017: Alongside the Bank’s News Release, we published a letter titled ‘Firms’ preparations for the UK’s withdrawal from the European Union: planning assumptions’ and a consultation paper on the PRA’s approach to the supervision and authorisation of international banks.