UK: the dawn of the new regulatory regime

Welcome to the new Prudential Regulation Authority (PRA) and the new Financial Conduct Authority (FCA).   The new  PRA  and FCA websites are up and running, as are the PRA and FCA handbooks, together with a combined view provided for the purposes of supporting transition, and the Register.  Although the old FSA website is still functioning, it is no longer being updated and is likely to cease to be available in early July.  Archived versions of the old website will continue to be available through the National Archives.  Although day one of the new regime was a bank holiday Monday (as well as 1 April), there was no respite from the publication of new paperwork:

PRA

• The PRA’s approach to banking supervision
• The PRA’s approach to insurance supervision
• The Prudential Regulation Authority's approach to enforcement: statutory statements of policy and procedure
• Policy statement - The power of direction over qualifying parent undertakings

FCA

• Video: Introducing the Financial Conduct Authority
• FCA Board Register of Interests

Although there are many similarities with the old FSA site, finding the publications loaded over the long weekend - including the new forms and associated notes, attestations, factsheets, etc. - is slightly less intuitive on the new FCA website.  I recommend using your FCA, which seems to be where the newly published documents can be displayed by date of publication on the site.

Ultimately, the best way to familiarise yourself with the site is probably to play around with it, but here are links to a small number of useful documents that may not be immediately easy to find:

• MoU between the Bank, including the PRA, HM Treasury and FCA re: International Organisation
• MoU between the Bank, including the PRA, and the FCA in relation to the supervision of markets and market infrastructure
• MoU between the FCA and the PRA re: supervision of with-profits policies
• MoU between the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) re: co-ordination and Annex
• MoU between the FCA and Office of Fair Trading (OFT)
• MoU between the Financial Services Compensation Scheme Ltd (FSCS) and the FCA re: Financial Services Compensation Scheme (FSCS)
• MoU between the FCA and Financial Ombudsman Service (FOS)
• MoU between the FCA and Pensions Regulator (TPR)
• MoU between the FCA and Claims Management Regulator (part of the Ministry of Justice) (CMR)

Enforcement notices are to be found under outcomes and notices, and warnings and alerts will also be published.  The FCA have also published a new leaflet on the enforcement process.

UKLA material is held here and the guidance, procedural and technical notes are in the Knowledge Base.  See also the UKLA Forms and Checklists pages.