On 23 April 2026, the Prudential Regulation Authority (PRA) published a set of low impact amendments to its rules in Finalising CP23/25 and minor updates and corrections made without further consultation.

The amendments include:

  • Amendment to the Fees Part of the PRA Rulebook: The PRA and Financial Conduct Authority (FCA) consulted on amendments to rule 3 of the Fees Part of the PRA Rulebook. The amendments are required to update the invoice due dates for firms who pay £50,000 or more in PRA and FCA fees in a year to avoid invoices being labelled as overdue or procedural issues.
  • Amendment to the Skills, Knowledge and Expertise Part of the PRA Rulebook:  The PRA is deleting rules 2.1A and 2.1B of the Skills, Knowledge and Expertise Part of the PRA Rulebook (and amending Rule 1.2 to delete part-specific definitions) as they contain redundant references to provisions of the Markets in Financial Instruments Directive Organisational Regulation (MODR) following its revocation as part of the post-EU-withdrawal reforms. These MODR requirements have already been transposed elsewhere in the PRA Rulebook through amendments to the General Organisational Requirements Part.
  • Amendment to SoP2/23 – Operating the Small Domestic Deposit Taker (SDDT) regime: The PRA is amending Statement of Policy (SoP) 2/23 – Operating the Small Domestic Deposit Taker (SDDT) regime to clarify the PRA’s policy for applicants to the SDDT regime with non-UK parent undertakings, providing further guidance on which entities should be included in or excluded from the group when assessing that the group’s total assets do not exceed £20 billion.
  • Amendment to SS3/18 – Model risk management principles for stress testing: The PRA is amending the self-assessment expectations of supervisory statement (SS) 3/18 – Model risk management principles for stress testing. From 16 April 2026 onwards, firms with internal model approval will be expected to assess their stress test model risk management practices against the broader supervisory guidance set out in SS1/23 – Model risk management principles for banks.

Next Steps The amendments will come into force on 23 April 2026, apart from the amendment to the Fees part of the PRA Rulebook which will come into force on 30 April 2026.