The Prudential Regulation Authority’s approach to enforcement: statutory statements of policy and procedure

Statement of Policy

First published on 1 April 2013

This Prudential Regulation Authority (PRA) statement of policy publishes the final statements of policy on the PRA’s decision-making policy and procedure, as well as on aspects of its disciplinary and other enforcement powers and includes its:

  • procedures regarding decisions that create an obligation to give a statutory notice;
  • policy on the imposition and amount of penalties;
  • policy on the imposition and period of suspensions or restrictions;
  • policy on the settlement of cases involving enforcement action;
  • policy on the publication of disciplinary and other enforcement actions; and
  • policy regarding the conduct of certain interviews at the request of overseas regulators.

Current version

Published on 4 October 2019. Effective from: 4 October 2019 with one exception:

In relation to cases where the PRA has already concluded ‘Stage 1’ settlement discussions with the subject, without reaching a settlement, prior to Friday 4 October 2019, the existing scheme as set out in the March 2019 SoP ‘The PRA’s approach to enforcement: Statutory statements of policy and procedure’, will continue to apply.

 - following the publication of Policy Statement 23/19 ‘Enforcement: Changes to the PRA’s settlement policy’.

Consultation Paper

Published on 20 December 2012

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