On 22 October 2026 the Prudential Regulation Authority published CP14/26, its SM&CR Phase 2 consultation, and the Financial Conduct Authority published its companion paper CP26/37 the same day. The PRA proposes to remove regulatory pre-approval for almost half of the current Senior Manager Functions (SMFs), to drop the requirements to assess, certify and seek regulatory…
On 14 October 2026 the Prudential Regulation Authority and the Financial Conduct Authority published their final policy on high LTI lending: PRA policy statement PS19/26 (FCA PS26/20), a new PRA supervisory statement, SS2/26, and replacement FCA general guidance, FG26/11. From 28 October 2026 the Housing Part of the PRA Rulebook stops capping each lender’s high…
On 13 October 2026 the Basel Committee on Banking Supervision published six Regulatory Consistency Assessment Programme (RCAP) reports on how Australia, Canada, Japan, Korea, Switzerland and the United Kingdom implement its leverage ratio framework. Australia, Japan, Korea and Switzerland were graded compliant, the highest overall grade. Canada and the UK were graded largely compliant, one…
On 7 October 2026 the Prudential Regulation Authority published CP13/26, Updating regulatory thresholds: An autopilot approach. It proposes PRA threshold indexation for 128 fixed amounts in the PRA Rulebook and in PRA guidance: each would rise with UK nominal GDP, first on 1 July 2031 and then every five years. Responses to the consultation, and…
The Basel Committee on Banking Supervision (BCBS) reported on 5 October 2026 that three quarters of its 27 member jurisdictions have published rules adopting the final Basel III standards, and that almost all of them have publicly announced that banks must apply Basel III by April 2027 or earlier. The figures come from the Committee’s…
On 30 September 2026 the Prudential Regulation Authority published a Dear CFO letter from David Bailey, its Executive Director for Prudential Policy, setting out thematic feedback on IFRS 9 expected credit loss (ECL) accounting. The PRA IFRS 9 ECL letter draws on the written reports that auditors of the major UK-headquartered banks and building societies…
The PRA Branch Return is the half-yearly return through which a UK branch of a non-UK bank tells the Prudential Regulation Authority what it is doing in the United Kingdom. From the 30 June 2026 reference date, in-scope firms complete a revised version of the form (template version 1.2), the product of policy statement PS6/25,…
UK FINREP is supervisory financial reporting governed by the Reporting (CRR) Part of the PRA Rulebook. That Part applies to CRR firms and CRR consolidation entities; Article 430(3) sets financial-information requirements for firms within that provision, while Chapters 5A-5F set additional requirements for reduced FINREP firms. For FINREP data items required under Article 430(3) together…
Firms in scope of Chapter 18 of the PRA Rulebook must submit the Remuneration High Earners Report annually. The report is due to the PRA within four months of the firm’s accounting reference date and, under Rules 18.4 and 18.5, covers high earners who mainly undertook their professional activities within the UK; Rule 18.6 reports…
The Prudential Regulation Authority published consultation LIAC02/26 on 29 July 2026, opening two separate workstreams under its low impact amendments process. One removes Lloyd’s syndicates from internal model output (IMO) reporting; the other reworks the liquidity Parts of the PRA Rulebook to fit incoming UK rule changes. Both close for comment on 11 September 2026,…