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Prudential Regulation Authority (PRA) Financial Institutions

A&O Shearman

UK PRA Policy Statement On Recognized Exchanges Policy And Transfer Of Main Indices

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The UK Prudential Regulation Authority (PRA) has published policy statement PS6/26 on its approach to recognised exchanges and main indices in the context of the revocation and restatement of the UK Capital Requirements...more

A&O Shearman

Draft Capital Requirements Regulation (Market Risk Transitional Provision) Regulations 2026

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The draft Capital Requirements Regulation (Market Risk Transitional Provision) Regulations 2026 have been published, together with a draft explanatory memorandum. The draft Regulations relate to changes to the UK...more

A&O Shearman

The Financial Services and Markets Act 2023 (Commencement No 13) Regulations 2026

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The Financial Services and Markets Act 2023 (Commencement No 13) Regulations 2026 were made, following HM Treasury's policy response on applying the Financial Services and Markets Act 2000 model of regulation to the UK...more

A&O Shearman

UK PRA Final Policy On Reforms To Credit Union Investment Rules

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The UK Prudential Regulation Authority (PRA) has published policy statement PS5/26, finalising amendments to its framework for credit unions wishing to invest in credit union service organisations (CUSOs). Following its June...more

A&O Shearman

UK PRA Updates Branch Return Form and Guidance

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The UK Prudential Regulation Authority (PRA) has published an updated webpage for banks, building societies and investment firms, notifying it has published an updated Branch Return Excel form and schema to align with changes...more

Mogin Law LLP

Hyperscalers in Financial Services & Insurance

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Financial institutions have adopted cloud services in a big way, using hyperscalers for transaction systems, customer platforms, analytics, fraud detection, risk modeling, and cybersecurity tooling....more

A&O Shearman

BoE Dear CFO Letter On Preparation For The Third Resolvability Assessment

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The Bank of England (BoE) has issued a Dear CFO Letter setting out information on the third resolvability assessment framework (RAF) assessment. The assessment will evaluate firms' overall ability to meet the three...more

A&O Shearman

Regulatory Monitoring: EU Version - January 2026

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The ESRB published a second summary compliance report assessing the implementation of recommendation ESRB/2019/18 on the exchange and collection of information for macroprudential purposes regarding branches of credit...more

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Financial Services Horizon Report 2026

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The UK’s Prudential Regulation Authority (PRA) set out its strategic priorities for 2025/26 in April 2025. Priority 1 is to maintain and ensure the safety and soundness of the banking and insurance sectors and ensure...more

A&O Shearman

UK Regulators Publish Joint 2025 CBEST Thematic Report

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The Bank of England, UK Prudential Regulation Authority and UK Financial Conduct Authority have published their 2025 annual CBEST thematic report. CBEST is a threat-led penetration testing assessment framework of cyber...more

A&O Shearman

UK PRA Final Policy On Implementation Of Basel 3.1 Standards

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The UK Prudential Regulation Authority (PRA) has published final policy statement PS1/26 on the implementation of the Basel 3.1 standards in the UK, together with associated supervisory statements, statements of policy and...more

A&O Shearman

UK PRA Outlines Supervisory Priorities For 2026 – UK Deposit Takers And International Banks

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The UK Prudential Regulatory Authority (PRA) has published Dear CEO letters setting out its 2026 supervisory priorities for UK deposit takers and international banks and designated investment firms. Across both letters, the...more

A&O Shearman

Evolution Of The BoE's Approach To Resolution

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The Bank of England (BoE) has published a speech by Dave Ramsden, deputy governor, markets and banking, on the evolution of the BoE's approach to resolution. The speech discusses the balance to be struck in optimising ex ante...more

Skadden, Arps, Slate, Meagher & Flom LLP

Lloyd’s of London: Consolidation of Lloyd’s Byelaws and Other Rules

On 15 December 2025, Lloyd’s of London (Lloyd’s) announced that it had completed an extensive review of the Lloyd’s Byelaws and other rules and created a consolidated version of these requirements, which is available on the...more

Latham & Watkins LLP

10 Key Focus Areas for UK-Regulated Financial Services Firms in 2026

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In this publication, we explore some of the core focus areas for UK-regulated financial services firms in the year ahead....more

A&O Shearman

UK FSMA 2023 (Prudential Regulation of Credit Institutions) (Consequential Amendments) Regulations 2025 published

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The Financial Services and Markets Act 2023 (Prudential Regulation of Credit Institutions) (Consequential Amendments) Regulations 2025 have been published, accompanied by an explanatory memorandum. This follows the draft...more

A&O Shearman

UK PRA expectations on notification for inclusion of interim or year-end profits in CET1 capital

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The UK Prudential Regulation Authority (PRA) has published a new webpage outlining its expectations of firms' when including interim or year‑end profits in Common Equity Tier 1 (CET1) capital. Under Article 26(2), Chapter 3...more

A&O Shearman

UK Regulators Report On The Mutuals Landscape

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The UK Prudential Regulation Authority (PRA) and the UK Financial Conduct Authority (FCA) have published a joint report on the UK's mutual and cooperative sector, and their commitment to supporting this sector in respect of...more

A&O Shearman

BoE Publishes 2025 CCP Stress Test Results

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The Bank of England (BoE) has published its report on the results of its stress test of central counterparties (CCPs). The BoE conducts regular stress tests of UK CCPs to assess their financial resilience and identify...more

A&O Shearman

UK PRA Policy Statement On The Deletion of Banking Reporting Templates

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The UK Prudential Regulation Authority (PRA) has published policy statement PS27/25 following its September consultation setting out proposals to delete certain regulatory reporting requirements for banks, building societies...more

Skadden, Arps, Slate, Meagher & Flom LLP

The PRA’s Discussion Paper on Alternative Life Capital: A New Dawn?

On 14 November 2025, the Prudential Regulation Authority (PRA) published Discussion Paper 2/25, “Alternative Life Capital: Supporting Innovation in the Life Insurance Sector,” which starts the PRA’s engagement with...more

A&O Shearman

UK FSCS Update On Compensation Levy For 2025/26 And Early View Forecast For 2026/27

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The UK Financial Services Compensation Scheme (FSCS) has published its November 2025 Outlook newsletter, providing an update on compensation figures for the current financial year and an early view of the levy forecast for...more

Cadwalader, Wickersham & Taft LLP

Tracing Trends, November 2025 - The UK’s Banking Regulator Sets Out Its Supervisory Expectations

In Supervisory Statement SS31/15, the UK’s Prudential Regulation Authority (“PRA”) updates banks and the large investment firms it supervises on its expectations for their Internal Capital Adequacy Assessment Process...more

A&O Shearman

UK PRA PS 19/25—Securitisation Prudential Reforms

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This briefing, which is relevant to the prudential treatment of securitisations in general (traditional and synthetic) by UK PRA regulated banks, covers the securitisation-related content of PRA Policy Statement 19/25 (PS...more

A&O Shearman

UK Regulators Publish Effective Practices on Cyber Response and Recovery Capabilities

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The Bank of England, UK Financial Conduct Authority (FCA) and UK Prudential Regulation Authority (PRA) have published a joint document outlining effective practices in cyber response and recovery capabilities across systemic...more

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