On 11 July 2016, we blogged that the PRA issued Consultation Paper 25/16: The implementation of ring-fencing: reporting and residual matters (CP25/16). The PRA has now released Policy Statement 3/17: The implementation of ring-fencing: reporting and residual matters – responses to CP 25/16 and Chapter 5 of the Occasional Consultation Paper 36/16 (PS3/17). The PRA considers that, overall, the responses received to CP25/16 do not require it to make significant changes to its proposals. However, in the light of the responses received, and to add further clarity, the PRA has made minor amendments to the proposed rules and supporting policy documents on which it consulted in CP25/16. The PRA has incorporated the proposed amendments that were set out in chapter 5 of CP36/16 into the final rules and reporting templates published in the appendices to PS3/17.
Appendix 1 to PS3/17 set out the final rules while appendix 2 sets out supporting policy documents to implement the proposals consulted on in CP25/16.
View PRA policy statement on implementation of ring-fencing: reporting and residual matters, 1 February 2017