Prudential Regulation Authority

News & Analysis as of

PRA Issues Clarification on Implementation of the Solvency II Directive

On August 29, the UK PRA issued an update on the implementation of the Solvency II Directive (2009/138/EC), which is planned for January 1, 2016. The current PRA Update focuses on: - the relationship between the risk...more

Financial Regulatory Developments Focus - September 2014 #2

In this issue: - Derivatives - Bank Prudential Regulation & Regulatory Capital - Financial Services - People - Events - Excerpt from Derivatives: FCA Factsheet on Review...more

Summary of Prudential Regulators’ Re-Proposed Margin Rules

On September 3, the Board of Governors of the Federal Reserve System (“Board”), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Farm Credit Administration and the Federal Housing...more

How not to submit a claim with the SEC: Use a whistleblower hotline instead

Some people will go to great lengths to claim they are entitled to a whistleblower reward based on evidence they have. I know, shocker right? An example of this is via a commission order, dated August 29, 2014, that...more

Financial Regulatory Developments Focus - September 2014

In this issue: - Derivatives - Bank Prudential Regulation & Regulatory Capital - Credit Ratings - Financial Services - Shadow Banking - Funds - Financial Market...more

Financial Regulatory Developments Focus - August 2014 #2

In this issue: - Derivatives - Bank Structure - Recovery & Resolution - Bank Prudential Regulation & Regulatory Capital - Financial Services - Consumer Protection - Funds...more

No Financial Incentives for Whistleblowers in the UK

The Financial Conduct Authority (FCA) and the Bank of England Prudential Regulation Authority (PRA) published a report on 30 July 2014 that recommends that no financial incentives are given to whistleblowers. This differs...more

PRA Issues Policy Statement on Bonus Clawback

On July 30, the Prudential Regulation Authority (PRA) issued a policy statement in respect of responses received to its consultation on proposals to extend the Remuneration Code to require all PRA-authorized firms to ensure...more

Financial Regulatory Developments Focus - June 2014 #3

In this issue: - Derivatives - Regulatory Capital - Bank Prudential Regulation - Financial Services - Enforcement - People - Events - Excerpt from...more

FRB Governor Tarullo Makes Presentation Concerning Alignment of Bank Corporate Governance and Prudential Regulation

FRB Governor Daniel K. Tarullo made a provocative presentation concerning bank corporate governance and prudential regulation to corporate and financial law professors and other attendees at the Midyear Meeting of the...more

Financial Regulatory Developments Focus - June 2014 #2

In this issue: - Derivatives - Capital and Prudential Regulation - Remuneration - Credit Ratings - Funds - Financial Services - Enforcement - Events -...more

Financial Regulatory Developments Focus - June 2014 #1

In this issue: - Derivatives - Regulatory Capital - Bank Prudential Regulation - Financial Market Infrastructure - Financial Services - Enforcement - People -...more

Financial Regulatory Developments Focus - May 2014

In this issue: - Derivatives - Bank Prudential Regulation - Financial Services - Enforcement - People - Events - Excerpt from Derivatives: Implementing Regulation...more

Government launches review of FCA and PRA enforcement processes

On 6 May 2014, the Chancellor of the Exchequer announced that HM Treasury would undertake a review of the enforcement decision making processes for the Financial Conduct Authority (the FCA) and Prudential Regulation Authority...more

Financial Regulatory Developments Focus - May 2014

In this issue: - Derivatives - Bank Prudential Regulation - Financial Market Infrastructure - Credit Ratings - Consumer Protection - Enforcement - Events - Excerpt from...more

Prudential Regulators Finalize Leverage Ratio Rule For Largest Institutions

On April 8, the Federal Reserve Board, the FDIC, and the OCC adopted a final rule, effective January 1, 2018, requiring certain top-tier U.S. bank holding companies (BHCs) to maintain a minimum supplementary leverage ratio...more

"Clawback of Bonuses: UK PRA’s Banking Proposals Cast Six-Year Shadow for Bad Actors and Their Supervisors and Line Managers"

On 13 March 2014, the Prudential Regulation Authority (PRA), the U.K. regulator responsible for prudential supervision of banks, insurers and large broker-dealers, issued a consultation paper on bonus clawback (CP6/14). ...more

Orrick's Financial Industry Week in Review - March 17, 2014

On March 12, the Honorable Katharine B. Forrest of the United States District Court for the Southern District of New York ordered Fabrice Tourre, a former Goldman Sachs trader convicted of violation of federal securities...more

"UK Banking Regulators and Foreign Banks: A Vision of Future Supervision"

The U.K.’s banking regulator, the Prudential Regulation Authority (PRA) recently published a consultation paper on its approach to supervising international banks (the Draft Supervisory Approach). ...more

New Rulebook for the PRA

The UK Prudential Regulation Authority (“PRA”) is consulting on fundamental reforms to its handbook of rules and guidance. The PRA’s current handbook of rules and guidance is inherited largely from provisions...more

Orrick's Financial Industry Week in Review - January 27, 2014

Lehman Court Finds Safe Harbors Protect Damage Calculation Provisions in Swap - Judge James M. Peck issued a significant opinion in the Lehman Brothers bankruptcy late last month, which preserved important safe...more

PRA Issues Consultation Paper on PRA Rulebook

On January 21, the PRA issued a consultation paper on the proposed redrafting of certain areas of the PRA Rulebook, including the Supervision Manual, the Financial Stability and Market Confidence Sourcebook and the Principles...more

Prudential Regulators Announce Final Changes To Call Report

On January 14, the Federal Reserve Board, the OCC, and the FDIC announced final changes to the Call Report to implement the Basel III capital standards and consumer data collection after delaying certain changes last year....more

Co-Op Bank Subject to Enforcement Investigation by the UK PRA and FCA

On January 6, The UK Regulator, the Prudential Regulation Authority (PRA) published a press release confirming its intention to undertake an enforcement investigation into the Co-Op Bank. The UK’s other regulator, the...more

What to expect in 2014

2013 was a significant year for the UK regulatory landscape. National and international regulators continued to address the issues identified by the financial crisis in addition to responding to the LIBOR scandal with...more

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