Organisation: Prudential Regulation Authority (UK)

PRA releases updated model risk management policy

The UK’s Prudential Regulation Authority has published its model risk management policy, but will limit its scope to mull over proportional implementation definitions for “Simpler-regime” banks.

22 May 2023

BoE seeking to incentivise cooperation in consolidated enforcement approach

The UK’s central bank has announced plans to unify its enforcement approach, providing “carrots” for early cooperation and, potentially, disproportionately large fines for regulatory infringements by big firms.

15 May 2023

First full SMCR review promises only “tweaks”, not overhauls, practitioners say

Experts have said UK’s first full review of the Senior Managers and Certification Regime is “bland” and that the UK government is merely “looking for a pat on the back” for its efforts.

04 April 2023

BoE defends HSBC's "hole in the fence" for SVB UK rescue

Bank of England senior leaders have defended the ringfencing exception for HSBC following the collapse of the Silicon Valley Bank – even as the Prudential Regulation Authority’s chief executive accepted that the central bank might give way again to such a demand from a big bank in future crisis situations.

30 March 2023

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