Prudential Regulation Authority (PRA) - IAS Plus
文章推薦指數: 80 %
The Prudential Regulation Authority (PRA) is a part of the Bank of England and responsible for the prudential regulation and supervision of banks, ... IASplus IASplus UnitedKingdom(English) Global(English) Global(Deutsch) Canada(English) Canada(Français) UnitedKingdom(English) LoginorRegister DeloitteUser? Login LoginName Password Login Register | Forgotpassword Welcome Myaccount Logout IASplus UnitedKingdom(English) Global(English) Global(Deutsch) Canada(English) Canada(Français) UnitedKingdom(English) Togglenavigation⋮ Searchsite Togglenavigation Home News Publications Standards Governance Otherregulatory Projects Resources Customise Topics Communications Togglenavigation⋮ Searchsite Navigation OtherRegulatory CompanyLaw EULaw FinancialReportingCouncil MarketRules PrudentialRegulationAuthority(PRA) BEIS(formerlyBIS) UKEndorsementBoard(UKEB) Navigation OtherRegulatory CompanyLaw EULaw FinancialReportingCouncil MarketRules PrudentialRegulationAuthority(PRA) BEIS(formerlyBIS) UKEndorsementBoard(UKEB) Info PrudentialRegulationAuthority(PRA) ThePrudentialRegulationAuthority(PRA)isapartoftheBankofEnglandandresponsiblefortheprudentialregulationandsupervisionofbanks,buildingsocieties,creditunions,insurersandmajorinvestmentfirms.Itsetsstandardsandsupervisesfinancialinstitutionsattheleveloftheindividualfirm. IntotalthePRAregulatesapproximately1,500financialinstitutions. ThePRAhas threestatutoryobjectives: topromotethesafetyandsoundnessofthesefirms;and tocontributetothesecuringofanappropriatedegreeofprotectionforpolicyholders(forinsurers). tofacilitateeffectivecompetitionsbetweenfirms. ItmakesanimportantcontributiontotheBank’scorepurposeofprotectingandenhancingthestabilityoftheUKfinancialsystem.Therearealsostatutoryrequirements–ThresholdConditions–thatfirmsmustmeet.Theseincludefirmsmaintainingappropriatecapitalandliquidity,andhavingsuitablemanagement. ThePRA,throughregulation,setsstandards/policieswhichitexpectsfirmstomeetandmonitorscomplianceagainstthese. Itassesseswhetherfinancialfirmsaresafeandsound,whetherinsurersprovideappropriateprotectionforpolicyholdersandwhetherfirmscontinuetomeettheThresholdConditions. Italsoassessesrisksfirmsmayposetofinancialstabilityinthefutureandtakesactionagainstthosethatitconsidertoposethegreatestrisk. ThePRA’smostsignificantsupervisorydecisionsaretakenbyitsCommittee(PrudentialRegulationCommittee)–comprisingtheGovernoroftheBankofEngland,theDeputyGovernorforPrudentialRegulation,FinancialStabilityandMarketsandBanking,theChiefExecutiveOfficeroftheFinancialConductAuthority,amemberappointedbytheGovernoroftheBankwiththeapprovaloftheChancellorandatleast6membersappointedbytheChancellor.TheCommittee isaccountabletoParliamentfortheexerciseofrule-makingpowers. ThePRAworksalongsidetheFinancialConductAuthority(FCA)intheperformanceofitsrole. Clickfora linktothePRAwebsiteincludingthe“PrudentialRegulationCommittee”andadditionalinformation. Relatednews Jointstatement bytheFCA,PRA,TPRandFRConthepublicationofClimateChangeAdaptationReports 01Nov2021 TheFinancialConductAuthority(FCA),PrudentialRegulationAuthority(PRA),ThePensionsRegulator(TPR)andtheFinancialReportingCouncil(FRC)haveissuedajointstatementonthepublicationoftheirClimateChangeAdaptationReports. TheClimateFinancialRiskForumpublishesitssecondsetofguidestohelpthefinancialindustrytoaddressclimate-relatedfinancialrisks 22Oct2021 TheClimateFinancialRiskForum(CFRF),jointlyestablishedinMarch2019bythePrudentialRegulationAuthority(PRA)andtheFinancialConductAuthority(FCA),haspublisheditssecondsetofguidestohelpthefinancialindustryeffectivelymanageclimate-relatedfinancialrisks. PRApublishesitsthematicfeedbackfromthe2020/2021roundofwrittenauditorreporting 06Oct2021 ThePrudentialRegulationAuthority(PRA)haspublishedalettertochieffinancialofficersofselecteddeposit-takerswhichprovidesthematicfeedbackfromthePRA’sreviewofwrittenauditorreportsreceivedin2021. FRCpublishesconsolidatedcovid-19guidanceforcompaniesandauditors. 14Dec2020 TheFinancialReportingCouncil(FRC)haspublishedconsolidatedCOVID-19guidanceforcompaniesandauditors.TheconsolidatedguidancesupersedesallpreviousFRCguidanceforcompaniesandauditors. FRCpublishesyear-endadvicetoAuditCommitteeChairsandFinanceDirectorsinadvanceofthe2020/21reportingseason 14Nov2020 TheFinancialReportingCouncil(FRC)haspublishedalettertoAuditCommitteeChairsandFinanceDirectors,inadvanceofthe2020/21reportingseason,settingoutitsexpectationsforpreparersofreportsandaccountsforthecomingyear. TheClimateFinancialRiskForumpublishesitsguidetohelpthefinancialindustryaddressclimate-relatedfinancialrisks 08Jul2020 TheClimateFinancialRiskForum(CFRF,jointlyestablishedinMarch2019bythePrudentialRegulationAuthority(PRA)andtheFinancialConductAuthority(FCA))haspublishedanindustryguideaddressingclimate-relatedfinancialrisks. PRApublishesguidanceontheapplicationofIFRS9forpaymentdeferrals 12Jun2020 ThePrudentialRegulationAuthority(PRA)hassentalettertochiefexecutiveofficersofUKbanksprovidingguidanceonhowtoaccountfortheendingofinitialpaymentdeferralsofferedduetoCOVID-19. FRC,FCAandPRAissueCovid-19guidanceforcompaniesandauditors 26Mar2020 TheFinancialConductAuthority(FCA),FinancialReportingCouncil(FRC)andPrudentialRegulationAuthority(PRA)havepublishedajointstatementrelatingtotheimpactofCovid-19onfinancialreporting. UKtaskforcepublishessecondreportonIFRS9expectedcreditlossdisclosures 13Dec2019 InNovember2017,theFinancialConductAuthority(FCA),FinancialReportingCouncil(FRC)andthePrudentialRegulatoryAuthority(PRA)setuptheTaskforceonDisclosuresaboutExpectedCreditLosses(‘theDECLTaskforce’).TheideabeingthattheTaskforcewouldbeapartnershipbetweenpreparersandusers,comingtogethertoengageconstructivelyonexpectedcreditloss(ECL)disclosure.ThemodelforthiswastheEnhancedDisclosureTaskForce(EDTF). DECLTaskforcepublishesfirstreportonIFRS9ECLdisclosures 28Nov2018 TheTaskforceonDisclosuresaboutExpectedCreditLosses(‘theDECLTaskforce’)haspublisheditsfirstreport,'RecommendationsonacomprehensivesetofIFRS9ExpectedCreditLossdisclosures'. PRAlettertoCFOsonminimumdisclosuresaboutECLontransitiontoIFRS9 12Jan2018 ThePrudentialRegulationAuthority(PRA)hassetoutinalettertoCFOsitsexpectationsastotheminimumtransitiondisclosuresaboutExpectedCreditLosses(ECL)thatwillbeprovidedontransitiontoInternationalFinancialReportingStandard(IFRS)9FinancialInstruments. PRApublishesIFRS9notetonon-executivedirectors 01Nov2017 ThePrudentialRegulationAuthority(PRA)haspublishedanoteentitled‘GettingreadyforIFRS9’whichisaimedatnon-executivedirectors(NEDs)whositontheboardoffirmsaffectedbytheimplementationofInternationalFinancialReportingStandard(IFRS)9‘FinancialInstruments’;particularlythosewhoarealsoontheauditcommittee. FRCapprovesadoptionoftwonewauditingstandardsforuseintheUK 02Nov2016 TheFinancialReportingCouncil(FRC)hasapprovedtheadoptionoftwonewauditingstandards:ISA(UK)800:SpecialConsiderations–AuditsofFinancialStatementsPreparedinAccordancewithSpecialPurposeFrameworks(ISA800)andISA(UK)805:SpecialConsiderations–AuditsofSingleFinancialStatementsandSpecificElements,AccountsorItemsofaFinancialStatement(ISA805). FRCconsultsonadoptinginternationalauditingstandardstofacilitatepublicassuranceofinsurers’SolvencyIIreports 14Jul2016 TheFinancialReportingCouncil(FRC)hasreleasedaconsultationontheadoptionofInternationalStandardsonAuditing(ISAs)800(Revised)SpecialConsiderations–AuditsofFinancialStatementsPreparedinAccordancewithSpecialPurposeFrameworksand805(Revised)SpecialConsiderations–AuditsofSingleFinancialStatementsandSpecificElements,AccountsorItemsofaFinancialStatementintheUK. PRAfinalisesrulesonauditcommitteesundertherevisedStatutoryAuditDirective 20May2016 ThePrudentialRegulationAuthority(PRA)haspublisheditsfinalrulebooktexttoimplementtherequirementsoftherevisedStatutoryAuditDirective(2014/56/EU).UnderthepreviousversionoftheDirective,theUKhadtakenthememberstateoptiontoexemptunlistedbanksandinsuranceundertakingsfromthestatutoryrequirementtohaveanauditcommittee.TherevisedDirectivehasnosuchexemption. PRAissuessupervisorystatementongoodboardgovernanceforPRA-regulatedfirms 31Mar2016 ThePrudentialRegulationAuthority(PRA)haspublishedasupervisorystatementwhichidentifiessomekeyaspectsofgoodboardgovernanceforboardstoconsidertowhichthePrudentialRegulationAuthority(PRA)attachesparticularimportanceandpayscloseattentiontointhecourseofitssupervision. BankofEnglandissuesPolicyStatementfollowingitsconsultationontheinteractionofthePRAwithexternalauditorsandactuaries 21Jan2016 TheBankofEnglandhasissuedPolicyStatement(PS)1/16‘EngagementbetweenexternalauditorsandsupervisorsandcommencingthePRA’sdisciplinarypowersoverexternalauditorsandactuaries’. PRAconsultsonchangestoauditcommitteerequirementsasaresultofEUauditreform 18Sep2015 ThePrudentialRegulationAuthority(PRA)hasissuedaconsultationpaperthatproposeschangestoauditcommitteerequirementsforbanks,buildingsocietiesandinsuranceundertakingsasaresultoftheUKimplementationoftheEUAuditDirective(2014/56/EU);specificallyimplementingtherequirementsofArticle39.ThePRAhasalsoproposedthattheserequirementswillapplytoUKdesignatedinvestmentfirms. PRAconsultsongoodboardgovernanceforPRA-regulatedfirms 27May2015 ThePrudentialRegulationAuthority(PRA)haspublishedaconsultationpaperseekingviewsonadraftsupervisorystatementwhichlookstoidentifysomekeyaspectsofgoodboardgovernanceforboardstoconsiderandtowhichthePrudentialRegulationAuthority(PRA)payscloseattentionintheconductofitssupervision. PRAclarifiesitsexpectationsontheuseofUKGAAPunderSolvencyII 14Apr2015 ThePrudentialRegulationAuthority(PRA)hasissuedaconsultationpaperseekingfeedbackonadraftsupervisorystatementthatsetsoutitsexpectationsforfirmswithinthescopeofSolvencyIIwishingtorecogniseandvalueassetsandliabilitiesunderUKGenerallyAcceptedAccountingPrinciples(UKGAAP)forSolvencyIIpurposes. WecommenttoBISandtheFRConEUauditreform 20Mar2015 WehavepublishedourcommentlettersontheDepartmentforBusiness,InnovationandSkills’(BIS)discussiondocumentontheimplicationsoftheEUandwiderreformstoauditorregulationandtheFinancialReportingCouncil(FRC)’sconsultationpaperontheimplementationoftheEUAuditDirectiveandAuditRegulation. BankofEnglandconsultsoninteractionofthePRAwithexternalauditorsandactuaries 03Mar2015 TheBankofEnglandhasissuedaconsultationpaperintroducingtwoproposalsontheinteractionofthePrudentialRegulationAuthority(PRA)withexternalauditorsandactuaries.Theconsultationpaper‘CP8/15‘EngagementbetweenexternalauditorsandsupervisorsandcommencingthePRA’sdisciplinarypowersoverexternalauditorsandactuaries’isopenforcommentuntil27May2015. BISissuesDiscussionPaperonauditreform 18Dec2014 TheDepartmentforBusinessInnovation&Skills(BIS)hasissuedapaperonauditreform."Auditregulation-discussiondocumentontheimplicationsoftheEUandwiderreforms"proposeschangesintheUKtoimplementtheEUAuditDirective(‘theDirective’)andAuditRegulation(‘theRegulation’),aswellasotherchangesthatmaybemadetoenhanceconfidenceandstrengthentheauditregime.TheFinancialReportingCouncil(FRC)hasalsoissuedaconsultationdocumentonthesametopic. PRApublishessupervisorystatementsettingoutdeferredtaxassetrecognitionunderSolvencyII 16Apr2014 ThePrudentialRegulationAuthority(PRA)haspublishedasupervisorystatement‘SS2/14SolvencyII:recognitionofdeferredtax’settingouttheirexpectationsofinsurancefirmswithinthescopeofSolvencyIIinrelationtotherecognitionofdeferredtaxassetsontheSolvencyIIbalancesheet. PRAconsultsonclawbacksforvestedawards 14Mar2014 ThePrudentialRegulationAuthority(PRA)hasissuedaconsultationproposingtoextendingtheRemunerationCodeinSYSC19AoftheirhandbooktorequireallPRA-authorisedfirmstoamendemploymentcontractstoenablethemtoapplyclawbacktovestedvariableremuneration.Theproposals,whichwouldcomeintoforceon1January2015,alsoservethepurposeofclarifyingPRAexpectationsastohowtheyexpectcompaniestocomplywiththeclawbackprovisions. AllRelated Quicklinks FinancialConductAuthority(FCA) RelatedPublications Governanceinbrief-FRCissuesadviceonannualreportsfor2020/21reportingseason 23Nov2020 DeloittecommentlettertoBISonEUauditreform 20Mar2015 DeloittecommentletteronHMTreasurydraftRegulationsanddraftguidanceonCRDIVcountry-by-countryreporting. 27Nov2013 DeloittecommentletteronHMTreasuryconsultationonCRDIVcountry-by-countryreporting 18Nov2013 AllRelated AboutUKAP Contactus FAQs Legal Privacy Cookies ©2022.SeeLegalformoreinformation. DeloittereferstooneormoreofDeloitteToucheTohmatsuLimited("DTTL"),itsglobalnetworkofmemberfirmsandtheirrelatedentities.DTTL(alsoreferredtoas"DeloitteGlobal")andeachofitsmemberfirmsarelegallyseparateandindependententities.DTTLdoesnotprovideservicestoclients.Pleaseseewww.deloitte.com/abouttolearnmore. Correctionlistforhyphenation Thesewordsserveasexceptions.Onceentered,theyareonly hyphenatedatthespecifiedhyphenationpoints. Eachwordshouldbeonaseparateline. Selectlanguage: English(Universal) English(British) English(American) Deutsch
延伸文章資訊
- 1The PRA's approach to banking supervision
- 2PRA (UK) - Compliance | Google Cloud
The Prudential Regulation Authority (“PRA”) is a part of the Bank of England and is responsible f...
- 3The Prudential Regulation Authority's approach to banking supervision
- 4PRA Group UK | Committed To Working Together
We are PRA Group UK, and we know life doesn't always go according to plan. Get in touch with us t...
- 5FCA and PRA (UK) - Azure Compliance | Microsoft Docs
FCA and PRA (UK). Article; 02/16/2022; 3 minutes to read; 1 contributor ...