UK:
UK Prudential Regulation Authority Consults On Further Rulebook Parts
20 August 2015
Shearman & Sterling LLP
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On August 14, 2015, the Prudential Regulation Authority
published a consultation paper on proposals to transfer additional
parts of the PRA rules that are in the FS Handbook into the
stand-alone PRA Rulebook. The PRA is reshaping the materials
inherited from the Financial Services Authority to create a
Rulebook which contains PRA rules only and follows the split of the
old FSA into the PRA and the Financial Conduct Authority. The
current consultation covers rules for financial conglomerates,
third country groups, group risk and group systems and controls and
regulatory reporting. The consultation closes on November 13, 2015.
It is expected that the new online PRA Rulebook will be available
before the end of 2015.
The consultation paper is available at: http://www.bankofengland.co.uk/pra/Documents/publications/cp/2015/cp2815.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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