The Prudential Regulation Authority is part of the Bank of England and prudentially regulates around 1,300 banks, building societies, credit unions, insurers and major investment firms. Created in 2013 when the former FSA was split, it operates alongside the FCA: the PRA owns safety and soundness, the FCA owns conduct, and dual-regulated firms answer to both. Its general objective is the safety and soundness of the firms it supervises, with a specific objective of policyholder protection for insurers.
What the PRA publishes
- The PRA Rulebook and the rule instruments that amend it
- Supervisory statements (SS) and statements of policy (SoP), setting out expectations rather than hard rules
- Consultation papers (CP) and the policy statements (PS) that conclude them
- Dear CEO and Dear CFO letters, communicating supervisory priorities by sector
- Reporting and disclosure templates, and the associated instructions
- Annual business plans and regulatory digests
Why it matters for compliance teams
The UK is implementing Basel 3.1 and Solvency UK on its own timetable and with its own choices, which means the PRA Rulebook is actively diverging from the EU framework a firm may also be subject to. Supervisory statements carry much of the practical burden — they say how a rule will be examined, which is often what determines the work.
Seqlense DOC indexes PRA rules, supervisory statements and policy pipeline in full text alongside the EBA and ECB material they increasingly differ from, so a cross-border group can see both regimes in one search.