UK:
PRA Statement On Financial Stability Information Power
08 July 2014
Shearman & Sterling LLP
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On 19 June 2014, the PRA published a Statement of Policy on its
power to require certain persons and firms to provide information
or documents that the PRA considers are or may be relevant to the
stability of the UK financial system (known as the 'financial
stability information power'). The scope of the power is wide
and can be applied to both authorized and unauthorized firms. The
Statement covers the circumstances when the PRA will provide prior
notice and when it will not, the right to make representations and
requirements on form and authentication.
The Statement is available at:
http://www.bankofengland.co.uk/pra/Documents/publications/policy/2014/fsinfop
ower.pdf.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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