The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
The digest contains several substantive regulatory items: CP11/26 on captive insurance regime (closes 14 October 2026) with streamlined authorisation; Banking taxonomy v4.1.1 effective 1 January 2027 with mandatory adoption; Insurance taxonomy v2.2.0 implementing new MALIR reporting framework effective 1 January 2027;...
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
PRA regulatory digest containing multiple policy statements and consultation papers on capital buffers, overseas prudential requirements, Solvency II amendments, captive insurance regime, and fees.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This is a regulatory digest containing multiple PRA publications and consultations. Primary focus is CP9/26 on Basel 3.1 IMA adjustments for market risk (prudential/capital requirements) and annual reports covering enforcement, cost-benefit analysis, and accountability metrics (reporting/disclosure).
Appendix to the Prudential Regulation Authority Annual Report 2025/26
Why this matters
This is the PRA's annual accountability report on Secondary Competitiveness and Growth Objective (SCGO) performance metrics. It presents quantitative and qualitative data on regulatory standards alignment, banking/insurance resilience, operational efficiency, and stakeholder engagement.
The Cost Benefit Analysis (CBA) Panel is a statutory panel established to provide advice to the PRA and the Bank on the preparation of CBA. The Panel provides independent input to the PRA’s and the Bank’s CBAs, helping to support increased transparency and scrutiny of their policymaking. This report covers the period…
Why this matters
Annual report from PRA's Cost Benefit Analysis Panel presented to Parliament under FSMA 2023. Informational/procedural document covering prudential regulation framework and governance requirements applicable across regulated financial services firms. No time-sensitive compliance deadline indicated.
The Bank of England and PRA are both Prescribed Persons as defined by Parliament under The Public Interest Disclosure (Prescribed Persons) Order 2014.
AI Analysis
The Bank of England and PRA, as Prescribed Persons under the Public Interest Disclosure (Prescribed Persons) Order 2014, have published their whistleblowing annual report for the period 1 April 2025 – 31 March 2026, in line with the Prescribed Persons (Reports on Disclosures of Information) Regulations 2017. The report confirms continued operationalisation of whistleblowing channels, the assessment of disclosures under PIDA, and the systematic sharing of all disclosures (protected and non‑protected) with supervisors, which materially elevates supervisory and enforcement risk for PRA‑regulated firms.
Key dates
01 April 2025
- Start of the reporting period for the Bank of England and PRA’s 2025/26 Prescribed Persons whistleblowing report
31 March 2026
- End of the reporting period for the 2025/26 whistleblowing disclosures referenced in the Bank and PRA report
By 30 September 2026 (within six months of 31 March 2026) Deadline
- Latest date by which the Bank and PRA are required under the Prescribed Persons (Reports on Disclosures of Information) Regulations 2017 to publish the written annual report on disclosures for the 2025/26 period
Suggested considerations
Establish clear internal processes for responding when the PRA or Bank contacts the firm following a whistleblowing disclosure, including immediate escalation to Compliance, Legal, and relevant Senior Managers, coordinated responses, and robust documentation of remedial actions.
What changed
- Prescribed Persons reporting obligations under the Prescribed Persons (Reports on Disclosures of Information) Regulations 2017 continue to apply, requiring the Bank and PRA to publish, within six...
For the 2025/26 period, the Bank and PRA report that 271 disclosures were received and assessed against the Public Interest Disclosure Act 1998 and their own statutory requirements to determine...
Of the 271 disclosures, 257 were reasonably believed to be protected disclosures within Part IVA of the Public Interest Disclosure Act 1998 and within the Bank’s and PRA’s remit as Prescribed...
Fourteen disclosures were assessed as not protected, including disclosures about firms not regulated by the Bank or PRA, issues outside the Bank’s or PRA’s regulatory remit, and individuals who do...
Regardless of statutory protection status, the Bank and PRA’s whistleblowing team provided supervisory colleagues with all disclosures (protected and non‑protected) for consideration or for...
Compliance impact
Non‑compliance with robust whistleblowing arrangements and failure to address issues raised by whistleblowers can significantly increase prudential and conduct risk, trigger intensified supervisory scrutiny, and lead to enforcement action, including fines, business restrictions, and personal consequences for senior management under SMCR. The fact that all whistleblowing disclosures, including non‑protected ones, are provided to PRA supervisors amplifies the likelihood that unresolved internal issues will surface in firm‑specific supervisory reviews and risk assessments.
This Enforcement Decision Making Committee (EDMC) annual report covers the period of 1 March 2025 to 28 February 2026.
AI Analysis
The PRA’s EDMC annual report confirms that contested enforcement decisions remain structurally separated from investigation teams and executive decision-makers, with the EDMC acting as the independent final administrative decision-maker before any Upper Tribunal referral. For compliance teams, the key message is not a new rule change, but a reminder that PRA enforcement cases are handled through a formal, disclosure-heavy process with written and oral representations and an independent review of settled cases.
Key dates
01 March 2025
- Start of the reporting period covered by the EDMC annual report
Summer 2026 Deadline
- Remaining EDMC members, including the incoming Chair and Deputy Chair, are due to be appointed
28 February 2026
- End of the reporting period covered by the EDMC annual report
28 February 2026
- As of this date, the PRA enforcement team was overseeing five cases, including investigations into five firms and five individuals
June 2026
- The EDMC annual report for 2025/26 was published
Suggested considerations
Review your firm’s PRA enforcement response plan to ensure it supports rapid collection, review, and production of material that may be disclosed in a contested case.
Ensure legal and compliance teams are prepared to make both written and oral representations to the EDMC if the firm becomes subject to a contested enforcement matter.
Confirm that internal governance provides for independent escalation and board-level oversight when a PRA investigation enters the decision stage.
Maintain an updated settlement strategy for PRA matters, including documented positions on fairness, scope of admissions, and mitigation, because the EDMC may review settlement processes retrospectively.
Map exposure across all PRA enforcement regimes relevant to the business, including prudential regulation, FMI, resolution, securitisation, wholesale cash distribution, critical third parties, and S&NI banknote matters.
What changed
- The EDMC completed its annual reporting cycle for the period 1 March 2025 to 28 February 2026, confirming the continued operation of the PRA’s contested-case decision framework.
The report confirms that the EDMC continues to provide functional separation between investigation/enforcement staff and decision-makers in PRA contested enforcement cases.
The report confirms that the EDMC’s role covers enforcement cases under the Bank’s statutory regimes for prudential regulation, financial market infrastructure, resolution, securitisation, wholesale...
The EDMC confirms that contested enforcement decisions are made independently, with disclosure of relevant material and the opportunity for both written and oral representations.
The EDMC confirms that its decision is the final stage of administrative decision-making in contested PRA enforcement cases, after which the subject may refer the matter to the Upper Tribunal.
Compliance impact
The report reinforces that PRA enforcement remains procedurally rigorous and independent, so weaknesses in document preservation, internal escalation, or representation strategy can materially worsen outcomes in contested cases. While no new enforcement rule is introduced here, firms should treat the report as evidence that the PRA’s decision-making architecture is stable, formal, and capable of escalating to tribunal litigation if matters are not resolved early.
The Bank of England and the Prudential Regulation Authority (PRA) have published their annual reports. The PRA report includes information on our activities for the year ended 28 February 2026.
Why this matters
Annual report from PRA covering regulatory performance for 2025/26. Key content includes Basel 3.1 implementation (effective 1 Jan 2027), Strong and Simple framework for smaller banks, Life Insurance Stress Test results, operational/cyber resilience focus, and secondary objectives on competition and growth.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
PRA regulatory digest containing multiple policy statements and consultations on capital requirements (Pillar 2A, CRR definitions), cryptoasset/tokenisation prudential treatment, insurance third-country branches, and AI/cyber resilience. Mix of final policy statements and consultative feedback.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
The 2026/27 Business Plan sets out the workplan for each of our strategic priorities and our strategy to advance our primary and secondary objectives. This year’s business plan confirms the PRA’s continued focus on safety and soundness and policyholder protection, alongside a proportionate and efficient approach to…
Why this matters
The regulatory update covers key prudential and operational resilience initiatives for banks and insurers, including implementation of Basel III, liquidity risk management, and oversight of emerging risks. This indicates medium urgency for these regulated firms.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This regulatory digest covers a range of updates relevant to banking, investment management and wealth management firms, including new policies on operational resilience, resolution planning, and disclosure requirements.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This regulatory update covers several topics relevant to banks and insurers, including proposed changes to securitization requirements, Solvency II own funds rules, and new data reporting requirements. The updates have medium urgency as they provide advance notice of upcoming consultations and policy changes.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This regulatory update covers a range of prudential and reporting requirements for banks and insurers, including the implementation of Basel 3.1, retiring the refined Pillar 2A methodology, and restatement of CRR requirements.
This report has been informed by the PRA and FCA’s ongoing regulation and supervision of mutuals and by direct engagement with mutuals and their trade associations in sessions around the country throughout 2025.
Why this matters
This report provides an overview of the mutual landscape, informed by the PRA and FCA's ongoing regulation and supervision. It is likely to be informational in nature, providing insights into the mutual sector rather than announcing any new regulatory changes.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This regulatory digest covers a range of topics relevant to banking, investment management, and wealth management firms operating in the UK. The low urgency indicates this is informational content summarizing key regulatory news and publications for the month.
The PRA disclosure of UK headquartered G-SIIs for 2025.
Why this matters
This regulatory update is relevant to UK headquartered globally systemically important institutions (G-SIIs) in the banking, investment management, and wealth management sectors.
This letter sets out the key findings from our annual assessment and the actions we expect you to take.
Why this matters
This regulatory update from the PRA focuses on the annual assessment of the credit union sector, which falls under the banking and credit sector. The key topics covered are prudential and capital requirements, which are relevant for banks and credit unions.
The table below shows the outcomes of the annual DLT assessment for PRA relevant currencies, which will be effective from 1 January 2026.
Why this matters
This regulatory update from the PRA is relevant to banking, investment management, and wealth management firms, as it covers prudential and capital requirements, operational resilience, and reporting obligations.
This is the first exercise conducted under the new Solvency UK regulatory regime implemented in 2024.
Why this matters
This regulatory update is focused on the results of a stress test for life insurers under the new Solvency UK regime, which is a prudential requirement for the insurance sector.
This is the first exercise conducted under the new Solvency UK regulatory regime implemented in 2024. The PRA published sector-level results on 17 November 2025 followed by individual firm disclosure for the core scenario on 24 November 2025.
Why this matters
This regulatory update is focused on the results of a stress test for the life insurance sector, which falls under the Insurance & Pensions sector. The key topic is prudential and capital requirements, as the stress test is designed to assess the resilience of insurers under various scenarios.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This is a general regulatory digest covering key updates across multiple sectors and topics relevant to UK financial services firms. The low urgency reflects the informational nature of the content.