On 17 January 2019, the PRA published Policy Statement 2/19: Regulatory transactions – changes to notification and application forms (PS2/19). PS2/19 provides the final rules and forms to to its earlier consultation (CP21/18) (our blog is here). The PRA received no responses to its consultation. The PRA is consequently making the changes to the rules and forms as consulted with minor amendments, these changes affect:
- Branch Notification Form;
- Cross Border Services Notification Form;
- Passporting Declaration;
- Change in Control Notification Forms used by a limited company or limited liability partnership;
- Controllers Form to be used by a partnership;
- Controllers Form to be used by an individual (other than in that individual’s capacity as a trustee, settler or beneficiary of a trust);
- Controllers Form to be used by a person in their capacity as a trustee, settler or beneficiary of a trust;
- Controllers Form to be used by a person in their capacity as an investment manager;
- Multi-arrangement special purpose vehicle new risk assumption notification Form;
- Group of cells notification Form; and
- Standing Data Form.
The final forms are included in Appendix 2 to PS2/19. Appendix 1 includes the final rules amending the Insurance Special Purpose Vehicles Part, the Passporting Part, the Change in Control Part and the Notifications Part of the PRA Rulebook. The PRA has also made minor drafting changes to the amendments proposed to the Change in Control Part; and minor typographical changes to the Branch Notification Form and the Cross Border Services Notification Form. These additional minor changes were not consulted on.
The final rules and accompanying forms will take effect from 19 January 2019.
