The PRA and the FCA are two separate entities – although we do work closely with the FCA on certain issues/firms. The main difference is that the FCA works with firms to ensure fair outcomes for consumers.

Nov 20, 2023 · The most obvious difference between the PRA and the FCA is that one focuses on ensuring financial firms stay stable and legally operational – while the other keeps financiers from making decisions that may harm consumers.

Apr 30, 2013 · As readers will be aware the FSA has been replaced by a ‘twin peaks’ model, which has seen the introduction of two new regulatory bodies: the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).

Jan 15, 2025 · The Bank of England (the Bank), Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) (collectively the ‘supervisory authorities’) have set out potential measures to oversee and strengthen the resilience of services provided by critical third parties (‘CTPs’) to the UK financial sector.

In general, the FCA and the PRA will co-ordinate in rule-making and rule review, supervision, investigation and enforcement of designated activities as they would for other activities, particularly where there are shared rules.

2 days ago · Joint FCA and PRA update on diversity and inclusion . In 2023, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) consulted in parallel on proposed rules and expectations aimed at improving diversity and inclusion in regulated firms. In light of the broad range of feedback received, expected legislative developments ...

Feb 20, 2024 · Meanwhile, in 2023 and for the first time ever, the Prudential Regulation Authority (PRA) imposed a higher total of financial penalties than the FCA. Both regulators appear to be reflecting on their approach to enforcement looking for new ways to …

1 day ago · The FCA and PRA initially consulted in September 2023 on introducing new reporting and disclosure requirements on D&I for larger firms, and a requirement to set a D&I strategy and specific targets ...

May 7, 2024 · Banks in the UK are regulated by the Bank of England's Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). The PRA focuses on the stability and resilience of banks, ensuring they have enough capital and manage risks.

Jul 16, 2013 · The PRA is responsible for the prudential regulation of capital-intensive firms, including banks, insurers and certain investment firms. These firms are dual-regulated firms because, while the PRA regulates prudential issues, the FCA acts as the conduct regulator.