The PRA has published a Policy Statement 1/14: Responses to CP8/13 (No.2) (PS1/14). In PS1/14, the PRA sets out final rules and its response to feedback received on the following chapters of its October 2013 Occasional Consultation Paper (CP8/13):
- chapter 3 – removal of the designated investment exchange regime; and
- chapter 6 – related party transaction risk.
The PRA reports that no responses were received to its consultation on the removal of the designated exchange regime. The PRA is therefore removing references to designated investment exchanges from its Handbook.
The PRA is also taking the opportunity to amend the definition of ‘listed’ used in chapter 11 of the Supervision manual. This will address the defect that the ‘official list’ may not include all the relevant EEA stock exchanges, because it only covers lists held by another competent authority, and not those held by stock exchanges.
The PRA did not receive any responses to its consultation on related party transaction risk and has therefore published an instrument (the PRA Rulebook related parties Instrument 2014) with the rules changes.
View Policy Statement 1/14: Responses to CP8/13 (No. 2), 30 January 2014