On 2 May 2023, the Prudential Regulation Authority (PRA) published its 2023/24 Business Plan. The Business Plan sets out the workplan for each of the PRA’s four strategic priorities to support the delivery of its strategy, together with an overview of the PRA’s budget for 2023/24. The PRA’s strategic priorities for 2023/24 are to: These … Continue Reading
On 13 April 2023, the Prudential Regulation Authority (PRA) published Consultation Paper CP7/23 – Regulated fees and levies: Rates proposals 2023/24. CP7/23 sets out proposals for the PRA’s fees for 2023/24, which would make amendments to the Fees part of the PRA Rulebook (Appendix 1). The proposals include: The PRA proposes to publish the changes … Continue Reading
On 15 March 2022, the PRA published Consultation Paper 3/22 ‘Occasional Consultation Paper – March 2022’ (CP3/22). In CP3/22 the PRA sets out minor amendments to UK Technical Standards (UKTS), PRA rules, supervisory statements (SS), Legacy Supervisory Statements, and a Statement of Policy (SoP). Among other things it proposes: To remediate a small inconsistency in … Continue Reading
On 4 March 2022, the FCA published Consultation Paper 22/4: Quarterly Consultation No. 35 (CP22/4). In CP22/4 the FCA sets out miscellaneous amendments to the FCA Handbook comprising: Changes to chapters 2 and 13 of the Perimeter Guidance (PERG) manual to clarify the application of the MiFID II ancillary activities test in the absence of … Continue Reading
The onset of the pandemic in March 2020 forced financial institutions (FIs) across the world to change their working practices. Large numbers of employees moved from working in an office five days a week to working from home as countries locked down. Today, it appears unlikely that FIs will return to their previous working models … Continue Reading
