In news that may catch the attention of doubters when it comes to investing in regulatory reporting, the Bank of England’s Prudential Regulation Authority (PRA) recently fined Metro Bank 5.38 million pounds (just over 7 million dollars) for failures in its regulatory reporting.
The UK’s Prudential Regulation Authority (PRA) has issued an updated version of its ‘Guidelines for completing regulatory reports’, taking effect from 29 December 2020. Its supervisory statement now includes a new chapter on third-country branch reporting.
The Bank of England and Prudential Regulation Authority (PRA) are seeking comment on plans to publish quarterly, aggregated data on the UK Insurance market. Recognising the value of the breadth and depth of data contained in the regular structured disclosures required by Solvency II, the PRA hope to improve analysis and insight in the insurance […]
The UK’s Prudential Regulation Authority (PRA) have published version 3.3.0 of the Bank of England Banking (BoE) XBRL Taxonomy, release notes, data point model dictionary, annotated templates and validation rules. Updates have been made to support the collection of Capital+ and Ring-fencing reporting. See here for more information and the taxonomy update release note.
On 14 November, the UK’s Prudential Regulation Authority (PRA) published a public disclosure of Solvency II related regulations, the PRA’s supervisory approach and supervisory disclosures applicable to the year-end 2018. These are regulations primarily relevant to PRA authorised insurance companies and other insurance regulators. Designed to foster transparency and accountability between supervisory authorities, the extensive […]
The UK’s Prudential Regulation Authority (PRA) have issued a supervisory statement updating their guidelines for completing regulatory reports. The guidelines have been updated over the summer following the adoption of the European Banking Authority Taxonomy 2.9, and again in September following the revision of the branch return for international banks. Changes to the branch return […]
The UK’s Prudential Regulation Authority have updated their rulebook, making a number of changes to regulatory reporting requirements. Following a consultation period, the PRA have published a policy statement outlining the final updated reporting requirements for ring-fenced bank reporting, Capital+ reporting and the scope of Financial Reporting (FINREP) to be reported by certain firms that […]
In light of a recent consultation, the UK’s Prudential Regulation Authority (PRA) have issued an updated supervisory statement clarifying climate-related disclosure requirements. Responses to the PRA’s consultation paper, Enhancing Banks’ and Insurers’ Approaches to Managing the Financial Risks from Climate Change, encouraged the PRA to move more quickly on climate issues, suggesting that too few firms are […]
The UK’s Prudential Regulation Authority (PRA) has published a consultation paper (Consultation Paper 8/19) revising the supervision of international banks – which includes a proposal to replace the current Excel reporting format for Branch Return Forms with XBRL. The proposal would affect all PRA-supervised branches of deposit takers and investment firms which are not headquartered […]
On Friday 8 March the UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) hosted the first meeting of the Climate Financial Risk Forum (CFRF). With climate change threatening to create financial risks relevant to these UK regulators’ objectives, the CFRF has been set up to help develop practical tools for addressing climate-related financial […]