The PRA has published Consultation Paper 2/14: The PRA Rulebook (CP2/14). CP2/14 is the first in a planned series of consultations that are designed to reshape Handbook material that the PRA inherited from the FSA. The PRA intends to create a clear and concise PRA Rulebook that will appear in a new online website in 2015 and, until then, will appear in the current Handbook site in PDF form.
In CP2/14, the PRA sets out proposed Rulebook Parts and supervisory statements to replace the Principles of Businesses (PRIN), chapters 2, 3, 5, 6, 8, 15 and 13A Annex 1 of the Supervision Manual (SUP) and chapter 1 of the Financial Stability and Market Confidence sourcebook (FINMAR). The PRA’s proposals include replacing the Principles for Businesses with Fundamental Rules (FRs). The FRs amend the substance of the Principles and contain new rules which aim, collectively, to be an expression of the PRA’s general objective of promoting the safety and soundness of regulated firms.
The deadline for responses to CP2/14 is 14 March 2014.
View Consultation Paper 2/14: The PRA Rulebook, 21 January 2014