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Prudential Regulation Authority (PRA) Financial Regulatory Reform

A&O Shearman

UK Senior Managers and Certification Regime overhaul: understanding proposals for reform

A&O Shearman on

Since its inception in 2016, the Senior Managers and Certification Regime (SMCR) has served as a cornerstone of the UK’s financial services regulatory landscape, designed to enhance individual accountability and raise...more

Skadden, Arps, Slate, Meagher & Flom LLP

HM Treasury and UK Regulators Announce Wave of Reforms

- What is new: HM Treasury and the UK regulators announced a package of financial services reforms on 15 July 2025, including cross-cutting reforms in the regulatory environment, significant changes to the SMCR regime, a...more

A&O Shearman

Bank Resolution (Recapitalisation) Act implemented

A&O Shearman on

The Bank Resolution (Recapitalisation) Act 2025 (Commencement) Regulations 2025 have been made, which brings into force certain provisions of the Bank Resolution (Recapitalisation) Act 2025 from 16 July, in parallel with the...more

Cadwalader, Wickersham & Taft LLP

Global Moves, Digital Shifts, July 2025 - UK Government Announces Programme of Regulatory Reforms

On July 15th, the UK Government published the final version of its Financial Services Growth and Competitiveness Strategy (the Strategy). The Strategy aims to “[roll] back regulation that had gone too far in seeking to...more

Goodwin

Further Reform for UK Private Fund Managers: The Government’s Road Map for Growth in Financial Services

Goodwin on

On 15 July 2025, Chancellor of the Exchequer Rachel Reeves delivered her Mansion House 2025 speech unveiling the Leeds Reforms, a programme for financial services reforms to drive investment and growth in the sector....more

Hogan Lovells

UK’s Financial Services Growth and Competitiveness Strategy: Welcome news for insurers

Hogan Lovells on

The UK government’s Financial Services Growth and Competitiveness Strategy published on 15 July 2025, identifies insurance/reinsurance as one of the sectors with ‘priority growth opportunities’ and as such the Strategy sets...more

A&O Shearman

Draft Markets in Financial Instruments (Miscellaneous Amendments) Regulations 2025 published

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The draft Markets in Financial Instruments (Miscellaneous Amendments) Regulations 2025 has been laid before the UK Parliament under the Financial Services and Markets Act 2023 (FSMA 2023), together with a draft explanatory...more

A&O Shearman

ESAs and AMLA sign MoU to strengthen EU AML supervision

A&O Shearman on

The European Supervisory Authorities (the European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities Markets Authority—the ESAs) have announced the signing of a multilateral...more

A&O Shearman

PRA publishes 2024/2025 secondary competitiveness and growth report

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The UK Prudential Regulation Authority (PRA) has published its 2024/25 competitiveness and growth report, setting out how it has advanced its secondary competitiveness and growth objective (SCGO). The SCGO was introduced...more

A&O Shearman

EU legislative bodies reach political agreement on CMDI framework

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The Council of the EU and the European Parliament have announced they have reached a political agreement on the legislative package to reform the crisis management and deposit insurance framework for banks in the EU. The...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Capital Ratio Podcast | Entering the US Banking Market

When crafting an entry into the U.S. markets, U.K. and European financial institutions need to carefully plan an appropriate strategy. Sebastian Barling, host of “The Capital Ratio” is joined by financial institutions...more

Hogan Lovells

European securitisation reform: progress, but pitfalls remain

Hogan Lovells on

Key takeaways The securitisation market stands on the brink of long-needed transformation - an opportunity too important to miss. The European Commission's package of securitisation reforms helpfully addresses some key...more

A&O Shearman

BoE publishes feedback statement on transitioning to a repo-led operating framework

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The Bank of England (BoE) has published a feedback statement in response to its December 2024 discussion paper on transitioning to a repo-led operating framework. The discussion paper proposed changes to the Sterling Monetary...more

A&O Shearman

The Financial Services and Markets Act 2023 (Capital Buffers and Macro-Prudential Measures) (Consequential Amendments) Regulations...

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The draft UK Financial Services and Markets Act 2023 (Capital Buffers and Macro-prudential Measures) (Consequential Amendments) Regulations 2025 were laid before the UK parliament and have been published, alongside an...more

A&O Shearman

The Capital Buffers and Macro-prudential Measures Regulations 2025

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The Capital Buffers and Macro-prudential Measures Regulations 2025 (SI 2025/653) have been laid before the UK parliament and published, together with an explanatory memorandum. The regulations restate relevant provisions of...more

A&O Shearman

EBA speech on efficiency and effectiveness of EU Financial Regulation

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The European Banking Authority (EBA) has published a keynote speech delivered by its Chairperson, José Manuel Campa, at a high-level meeting for European supervisors in Ljubljana, Slovenia, on the importance of an efficient...more

A&O Shearman

Regulatory monitoring: EU Version - May 2025

A&O Shearman on

The study on enhancing EU competitiveness in the banking sector, requested by the ECON, has been published by the Economic Governance and EMU Scrutiny Unit. The study emphasises the importance of a resilient and efficient...more

Skadden, Arps, Slate, Meagher & Flom LLP

PRA Announces Updates to Approach of Responsible Openness to International Banks

On 20 May 2025, the UK Prudential Regulation Authority (PRA) published a policy statement (PS6/25) on business conducted within branches of international banks operating in the UK, as well as its booking model expectations...more

A&O Shearman

GHOS Meeting: Basel III implementation and climate-related financial risks

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The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BIS), met to discuss the implementation of Basel III and its work on climate-related...more

A&O Shearman

Ninth Commencement Regulations under Financial Services and Markets Act 2023 published

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The Ninth Commencement Regulations–the Financial Services and Markets Act 2023 (Commencement No. 9) Regulations 2025–under the Financial Services and Markets Act 2023 (FSMA 2023) were made and have been published. The Ninth...more

Mayer Brown

PRA Consultation: Matching Adjustment Investment Accelerator (MAIA)

Mayer Brown on

INTRODUCTION - The recent “Solvency UK” reforms to Solvency II represent the UK’s tailored approach to insurance prudential regulation post-Brexit, aiming to enhance flexibility and competitiveness in the insurance...more

A&O Shearman

PRA consults on withdrawal of SS20/15: Supervising building societies' treasury and lending activities

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The Prudential Regulatory Authority (PRA) has published a consultation paper (CP/11/25) proposing the deletion of supervisory statement (SS) 20/15, which outlines the supervision of building societies' treasury and lending...more

A&O Shearman

Delegated regulation amending RTS on supervisory delta of call and commodity risk options published in the OJ

A&O Shearman on

Commission Delegated Regulation (EU) 2025/855 amending regulatory technical standards (RTS) laid down in Delegated Regulation (EU) 2021/931 as regards the specification of the formula for calculating the supervisory delta of...more

Skadden, Arps, Slate, Meagher & Flom LLP

The PRA’s Views on the BPA Market and the Matching Adjustment Investment Accelerator

In a recent speech, Gareth Truran, the executive director of insurance supervision at the UK Prudential Regulation Authority (PRA), set out observations on growth in bulk purchase annuity (BPA) deals. The number of BPA deals...more

A&O Shearman

ECON draft report on safeguarding and promoting financial stability amid economic uncertainties

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The European Parliament's Committee on Economic and Monetary Affairs (ECON) has published a draft report on safeguarding and promoting financial stability amid economic uncertainties. The draft report emphasises the...more

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