UK:
Prudential Regulation Authority Publishes Further Parts Of The PRA Rulebook
20 April 2015
Shearman & Sterling LLP
To print this article, all you need is to be registered or login on Mondaq.com.
On April 2, 2015, the Prudential Regulation Authority published
further Rules and Supervisory Statements and Policy Statements that
will form part of the PRA Rulebook. The new Rulebook parts include
verification of standing data rules and internal governance rules.
The new Supervisory Statements cover internal governance,
exercising certain functions under the Building Societies Act 1986
and supervising building societies' treasury and lending
activities. Also published is a new Policy Statement on the
PRA's approach to insurance business transfers. The PRA is
creating a stand-alone PRA Rulebook and intends to launch the new
Rulebook website online in summer 2015. The current PRA Handbook
sits alongside the Financial Conduct Authority's Handbook,
inherited from the Financial Services Authority.
The PRA Rulebook is available at: http://fshandbook.info/FS/html/PRA/D226 and the
additional parts to the PRA Rulebook are available at: http://www.bankofengland.co.uk/pra/Pages/publications/ps/2015/ps715.aspx.
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.
POPULAR ARTICLES ON: Finance and Banking from UK
Asset Recovery Comparative Guide
Bird & Bird
Asset Recovery Comparative Guide for the jurisdiction of UK, check out our comparative guides section to compare across multiple countries
Q&A: Safe Harbours For VASPs - Part 1
Ogier
Asian Legal Business was keen to hear from our experts on how this will allow virtual asset services providers (VASPs) to anchor in theses jurisdictions, despite increased regulatory burdens...
Q&A: Safe Harbours For VASPs - Part 2
Ogier
In 2023, Jersey and the British Virgin Islands passed legislation indicating they were welcoming virtual asset service providers, joining the likes of the Cayman Islands...
CRD VI And Its Impact On Lending Into Europe
Cadwalader, Wickersham & Taft LLP
December 2023 saw the publication by the EU of the near-final version of its ‘Banking Package' that makes significant changes to the Capital Requirements Directive known as ‘CRD VI'.
Financial Promotion Exemptions – UK Government U-Turn
Shepherd and Wedderburn LLP
In response to criticism, the UK Government announced in the 2024 Spring Budget that recent changes to the financial promotion exemptions eligibility criteria would be partially reversed from 27 March 2024.