The PRA has published Consultation Paper 29/15: Occasional Consultation Paper (CP29/15).

The structure of CP29/15 is as follows:

  • chapter 1 sets out proposals to delete the administrative fee rule for late regulatory reporting (SUP 16.3.14) from the PRA Handbook. The PRA is proposing to delete the Handbook rule that imposes an administrative fee on firms who submit regulatory data items after the submission deadline. However, the PRA will continue to identify and monitor when reports are submitted late and, together with consideration of data accuracy, will consider late returns as part of its assessment of the adequacy of a firm’s management and governance;
  • chapter 2 sets out proposals to amend the Reporting Pillar 2 Part of the Rulebook. The PRA proposes to insert both a definition of ‘data item’ and an interpretative provision to make it clearer that terms defined in the Capital Requirements Regulation (CRR) and not otherwise defined in the Part shall have the meaning given in the CRR;
  • chapter 3 sets out proposed amendments to the supervisory statement on market risk (SS13/13). The proposed amendments include those that bring to the attention of PRA authorised firms the use of sensitivity models under article 331 CRR;
  • chapter 4 sets out proposals to amend the supervisory statement on counterparty credit risk (SS12/13). Among other things the proposed amendments bring to the attention of PRA authorised firms changes to the transitional period for qualifying central counterparties;
  • chapter 5 sets out proposals to amend the definition of “significant risk taker” which is used in the Certification Part of the PRA Rulebook; and
  • chapter 6 sets out proposed amendments to the Pre Issuance Notification rules applicable to CRR firms and insurers, which would take effect on 1 January 2016.

The deadline for comments on CP29/15 is 14 September 2015 for chapter 1 and 14 November 2015 for chapters 2 to 6.

View Occasional Consultation Paper – CP29/15, 14 August 2015