Regulator Profile

PRA

Prudential Regulation Authority

Enforcement Regulator

3

Areas of regulation

27

Laws enforced

UK-wide

Quick links

Visit official website Email PRA Call 020 3461 7000

Authorisation Capital Requirements Prudential Regulation

What PRA does

Part of the Bank of England. Prudentially regulates and supervises around 1,292 banks, building societies, credit unions, insurers, and major investment firms. Sets capital and liquidity requirements, assesses business models and governance. Works alongside FCA which handles conduct regulation.

Additional information

Dual-regulated firms need authorisation from both PRA and FCA. PRA focuses on safety and soundness, FCA on conduct and consumer protection.

Legal framework

Legislation that PRA enforces.

Primary legislation

• Banking Act 2009 (as amended) Act 2009
• Bribery Act 2010 Act 2010
• Capital Allowances Act 2001, Part 2 Act 2001
• Copyright, Designs and Patents Act 1988 - Legislation.gov.uk Act 1988
• DMCCA 2024 Act 2023
• Export and Investment Guarantees Act 1991 Act 1991
• Financial Services Act 2012 Act 2012
• Financial Services and Markets Act 2000 Act 2000
• Financial Services and Markets Act 2000, Part XV Act 2000
• Financial Services and Markets Act 2000, Part XVI Act 2000
• Financial Services and Markets Act 2000, Schedule 6 Act 2000
• Financial Services and Markets Act 2000, Section 39 Act 2000
• Financial Services (Banking Reform) Act 2013, Part 5 Act 2013
• Financial Services (Banking Reform) Act 2013 (strengthened depositor protection) Act 2013
• Health and Social Care Act 2012 Act 2012
• Law of Property Act 1925 Act
• Performers' Rights (Part II CDPA 1988) Act 1988
• Terrorism Act 2000 Act 2000

Secondary legislation

• Article 60F RAO exemption UK Statutory Instrument 2001
• Economic Crime (Anti-Money Laundering) Levy Regulations 2022 UK Statutory Instrument 2022
• Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 UK Statutory Instrument 2005
• Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013 UK Statutory Instrument 2013
• Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 UK Statutory Instrument 2001
• Insurance and Reinsurance Undertakings (Prudential Requirements) Regulations 2023 UK Statutory Instrument 2023
• Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 UK Statutory Instrument 2018
• Money Laundering Regulations 2017 UK Statutory Instrument 2017
• The Financial Services and Markets Act 2000 (Controllers) (Exemption) (No. 2) Order 2001 UK Statutory Instrument 2001

Sectors regulated

Banking Insurance