Events listed in [PRA] Prudential Regulation Authority
Update on Bank of England and Financial Conduct Authority Memorandum of ...
ID 22000
The Bank of England’s Prudential Regulation Authority (PRA) has issued a press statement to inform of the findings from a recent review of its Memorandum of Understanding (MoU) concluded by the PRA itself and the Financial Conduct Authority (FCA) as regards the supervision of financial market infrastructures. Having engaged with stakeholders, e.g. central counterparties (CCPs) and recognized investment exchanges (RIEs), to hear about the ...
Roadmap for the Real-Time Gross Settlement service beyond 2024
ID 21863
Following last year’s consultation on a roadmap for 2024 and beyond for its Real-Time Gross Settlement (RTGS) service, the Bank of England has now published its response paper. Therein, the Bank briefly outlines the responses it has received to its consultation and presents its way forward in this matter. To recall, in 2022 the Bank sought feedback on possible further enhancements of its RTGS ...
RTGS – CHAPS Tariff Consultation Response
ID 21857
Following the launch of a consultation on proposed revisions to the Bank of England’s fee structure, including the cost allocation method as well as the collection procedure, for recovering the costs incurred from operating the Real-Time Gross Settlement System (RTGS), the Bank has now published a response paper on this issue. Therein, the Bank of England (BoE) outlines the feedback it has received to ...
PS1/23 – Remuneration: Unvested pay, Material Risk Takers and public appointments
ID 21824
Following a consultation on proposed modifications to its Supervisory Statement (SS2/17) as regards remuneration of material risk takers (MRT) in banks, building societies, and PRA-regulated investment firms in July 2022, the Bank of England’s Prudential Regulation Authority (PRA) has now issued a corresponding new Policy Statement (PS1/23). Therein, the PRA outlines the feedback it has received to its consultation and issues the final [*Supervisory ...
Outsourcing and third party risk management Supervisory Statement: central ...
ID 21781
The Prudential Regulation Authority (PRA) of the Bank of England has issued a new Supervisory Statement addressed at central counterparties (CCPs) as regards the PRA’s expectations concerning „outsourcing and third party risk management“. #### The statement thereby sets out expectations in the following key areas: (1) Governance, oversight and documentation which includes, among other aspects, the documentation and continuous recording of existing outsourcin ...
CP3/23 – ‘Dealing with insurers in financial difficulties’
ID 21780
The Bank of England’s Prudential Regulation Authority (PRA) has launched a new consultation on proposed modifications to its Rulebook and the issuance of a new Statement of Policy – Dealing with insurers in financial difficulties to implement the changes outlined in the Financial Service and Markets Bill as regards „insurers in financial difficulties“. According to the PRA, the proposed modifications and the new *Statement ...
Outsourcing and third party risk management Supervisory Statement: recognised ...
ID 21778
The Prudential Regulation Authority (PRA) of the Bank of England has issued a new Supervisory Statement addressed at recognized payment system operators (RPSO) and specified service providers (SSPs) as regards the PRA’s expectations concerning „outsourcing and third party risk management“. The statement thereby sets out expectations in the following areas, among others: – Governance, oversight and documentation which includes, among other aspects, the ...
Outsourcing and third party risk management Supervisory Statement: central ...
ID 21775
The Prudential Regulation Authority (PRA) of the Bank of England has issued a new Supervisory Statement addressed at central securities depositories (CSDs) as regards the PRA’s expectations concerning „outsourcing and third party risk management“. The statement thereby sets out expectations in the following areas, among others: – Governance, oversight and documentation which includes, among other aspects, the documentation and continuous recording of e ...
FMI outsourcing and third party risk management Policy Statement
ID 21774
Following the launch of a consultation on three separate Supervisory Statements and changes to an existing „Code of Practice“ as regards outsourcing and third party risk management of central counterparties (CCPs), central securities depositories (CSDs), and recognized payment system operators (PSOs) and specified service providers (SSPs) – together financial market infrastructures (FMIs) – in April 2022, the Bank of England (BoE) has now published ...
Outsourcing and third party risk management part of the Code of Practice
ID 21770
The PRA has published a so-called Outsourcing and third party risk management part of the Code of Practice for RPSOs and SSPs which shall apply to all firms operating in the UK unless firms are located in a third country for which the Bank of England has determined equivalence as far as the rules and regulations of the third country regulatory authority for the ...