Governance and SMCR

PRA Rules, Waivers and Modifications by Consent

• Audit Committee (Chapter 2)
• Ring Fenced Bodies (Chapter 4) - Board Composition and Membership
• Risk Control - (Chapter 3) - Risk Committee
• General Organisational Requirements
• Allocation of Responsibilities
• Certification
• Conduct Rules
• Fitness & Propriety and related Modification by consent of Fitness and Propriety 2.7 for Ring-Fenced bodies.
• Senior Management Functions
• Senior Managers Regime - Applications and Notifications
• Notifications (Chapter 11 - Conduct Rules)
• Record keeping
• Skills Knowledge and Expertise

UK legislation

• Performance of regulated activities - Financial Services and Markets Act 2000 (Part V)

Supervisory Statements and Statements of Policy

• Strengthening individual accountability in banking (SS28/15)
• Internal Governance (SS21/15)
• Corporate governance: Board responsibilities (SS5/16)
• The Prudential Regulation Authority’s approach to new and growing banks (SS3/21)
• International banks: The PRA’s approach to branch and subsidiary supervision (SS5/21)
• Conditions, time limits and variations (Statement of Policy)
• The use of PRA powers to address serious failings in the culture of firms (Statement of Policy)

Other relevant material

Guidelines originally issued by European Supervisory Authorities should be read in conjunction with "Interpretation of EU Guidelines and Recommendations: Bank of England and PRA approach after the UK’s withdrawal from the EU" (Statement of Policy)

• Guidelines on internal governance (EBA/GL/2017/11)
• Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body (EBA/GL/2017/12)