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Final Rules Prudential Regulation Authority (PRA) United Kingdom

Cadwalader, Wickersham & Taft LLP

Heating Up, June 2025 - The UK’s Banking Regulator Sets Out Its Expectations When Supervising Non-UK Branches

The UK’s Prudential Regulation Authority (“PRA”) has published its final rules and policies in relation to its approach to supervising branches and subsidiaries of international banks headquartered, or part of a group based,...more

A&O Shearman

PRA policy statement on identification and management of step-in risk

A&O Shearman on

The UK Prudential Regulation Authority (PRA) has published a policy statement on the identification and management of step-in risk (PS5/25). The policy statement provides feedback on responses to consultation paper (CP) 23/23...more

A&O Shearman

UK PRA business plan 2025/26

A&O Shearman on

The Prudential Regulation Authority (PRA) has published its Business Plan 2025/26 which sets out the workplan for and regulatory initiatives to advance its strategic priorities. This year's business plan is said to reflect...more

Morgan Lewis - Tech & Sourcing

UK Critical Third Parties Regime: Final Rules Published

UK financial regulators recently published their supervisory expectations for critical third party service providers (CTPs) to the financial sector under the United Kingdom’s new regime extending regulatory oversight to CTPs....more

BCLP

Managing Technology Supply Chains: What the Advent of the UK’s Critical Third Party Regime Means for Financial Services Firms and...

BCLP on

The FCA, PRA, and Bank of England have published their finalised critical third party (CTP) rules (and accompanying guidance) in PS24/16 Operational resilience: Critical third parties to the UK financial sector....more

Latham & Watkins LLP

UK Regulators Publish Final Rules for Critical Third Parties

Latham & Watkins LLP on

The new regime will take effect on 1 January 2025, but will not diminish the responsibilities of financial services firms relying on the services of critical third parties....more

A&O Shearman

UK guidance on acquisitions and increases in control in PRA and FCA authorised firms

A&O Shearman on

The UK financial services regulators, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), have recently set out their final policy on the assessment of acquisitions and increases in control of PRA...more

McDermott Will & Emery

New UK Securitisation Framework | Regulators Publish Final Rules

McDermott Will & Emery on

The following is a brief update on significant changes to the United Kingdom’s securitisation framework following publication of the final revised securitisation rules by the Financial Conduct Authority (FCA) and the...more

Katten Muchin Rosenman LLP

UK Regulators Publish Final Securitisation Rules

On 30 April 2024, the Financial Conduct Authority (FCA) published a policy statement (PS24/4) setting out its final firm-facing rules relating to securitisations and summarising feedback to its earlier consultation for the UK...more

Skadden, Arps, Slate, Meagher & Flom LLP

PRA Announces Final Adjustments to ‘Solvency UK’ Rules and Consults on Requirements for ‘Solvent Exit’ Plans

As discussed in our previous updates, in June 2020 the UK government announced a wide-ranging review of the Solvency II framework in the UK, aimed at reforming the insurance regulatory framework inherited from the EU given...more

A&O Shearman

UK Regulators Finalize Resolvability Assessment Framework for Banks

A&O Shearman on

Following their consultation earlier this year, the Bank of England and the Prudential Regulation Authority have finalized the new Resolvability Assessment Framework. The Framework comprises: (i) the BoE's approach to...more

Latham & Watkins LLP

Regulators Publish Final Rules on SMCR Extension

Latham & Watkins LLP on

The FCA and the PRA have published their Policy Statements, setting out final rules on the SMCR regimes for insurers and FCA solo-regulated firms. Key Points: ..The FCA has announced that the extended SMCR will apply to...more

A&O Shearman

UK Prudential Regulation Authority Publishes Final Rules for Buy-Outs of Variable Remuneration

A&O Shearman on

The Prudential Regulation Authority published a Policy Statement and final rules on buy-outs of deferred variable remuneration, i.e., where a firm compensates a new employee for deferred variable remuneration not received...more

Orrick - Finance 20/20

UK PRA and FCA Publish Final Policy on Implementing the FPC’s LTI Ratios

Orrick - Finance 20/20 on

On October 1, the Prudential Regulation Authority (PRA) issued PS9/14 and the FCA published FG14/8 setting out their final policies on implementing the Financial Policy Committee’s (FPC) recommendation on loan to income (LTI)...more

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