Topic: UK Prudential Regulation Authority

Simmons & Simmons advises on UK-Kuwait Islamic digital bank creation

A Kuwaiti bank advised by Simmons & Simmons has established the world’s first international Islamic digital bank.

13 August 2021

UK-based foreign banks face new information rules

The Prudential Regulation Authority has made changes to proposed regulations for international banks operating in the UK after consultation feedback urged against burdensome information requirements.

28 July 2021

PRA removes dividend limits

The UK’s Prudential Regulation Authority has removed the “extraordinary guardrails” it imposed on dividend distribution during the pandemic, but has warned banks to exercise an “appropriate degree of caution”.

14 July 2021

UK regulator proposes “strong and simple” post-Brexit prudential regime for non-systemics

The United Kingdom’s prudential regulator has announced proposals for a new “strong and simple” regime for non-systemic banks.

04 May 2021

A “culture of fear” over risk-taking: FSB calls for UK regulators to align on remuneration

UK regulators should better align their compensation frameworks to avoid creating a “a culture of fear” around proactive risk taking at banks, according to a new report from the Financial Stability Board.

15 April 2021

UK banks given operational resilience deadline

The UK’s financial regulators have announced new operational resilience measures, giving banks one year to implement their plans.

01 April 2021

PRA expands OCIR umbrella

The UK’s Prudential Regulation Authority has proposed expanding its operational continuity expectations to protect firms’ core business lines during resolutions and restructurings.

02 November 2020

FCA and PRA push Brexit changes as transition end-date approaches

The UK’s Financial Conduct Authority is encouraging riskier EU banks to establish local subsidiaries rather than branches after Brexit, in a new guide to its approach to international firms – while the Prudential Regulation Authority has issued changes to its binding technical standards and rulebook as the transition nears its end.

24 September 2020

UK PRA revisits pandemic measures

The UK’s Prudential Regulation Authority will terminate a counter-cyclical emergency capital requirements policy adopted at the outset of the pandemic, while issuing new guidance on the treatment of deferrals under the IFRS 9 accounting standard.

28 August 2020

ECB warns banks to improve internal capital checks

European banks need to “do more” to improve data quality and stress testing practices in their internal capital adequacy assessment processes (ICAAPs), the European Central Bank has warned.

19 August 2020

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