PRA investigations, enforcement and discipline

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This Overview is a guide to the Lexis+® UK Financial Services content within the ‘PRA investigations, enforcement and discipline’ subtopic, with links to appropriate materials.

Background to PRA enforcement

The Prudential Regulation Authority (PRA), as part of the Bank of England, is responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. Its regulatory approach is directed at reducing or preventing current and potential future risks to the stability of the UK financial system.

The PRA has wide-ranging powers that enable it to supervise, investigate and discipline firms and individuals who have breached regulatory and certain legal requirements. Its enforcement approach is informed by its statutory objectives and its focus on prudential safety and soundness.

This subtopic considers the PRA’s supervisory intervention and enforcement tools, processes and outcomes, including relevant legislation, PRA rules, PRA statutory statements of policy and procedure, and the Bank of England’s approach to enforcement.

PRA supervisory intervention and enforcement powers

The PRA’s Approach to Enforcement is contained in Annex 1 of the Bank of England’s Approach to Enforcement and is updated periodically.

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