PRA consults on depositor, dormant account and policyholder protection: PRA has published a consultation paper setting out proposals for transitional provisions and new rules in the PRA Rulebook and consequential amendments to the PRA Handbook arising from rules being proposed in the Depositor Protection and Policyholder Protection consultation papers published in October 2014. The package of measures across the three consultation papers should help to minimise the adverse impact that the failure of a PRA-authorised deposit taker, dormant account fund operator or PRA-authorised insurer would have on the UK's financial stability. The consultation will close on 27 February 2015. (Source: Depositor, Dormant Account and Policyholder Protection Amendments)

PRA updates on Solvency 2 internal model: PRA has updated its information to firms on their preparations for submitting applications to use a Solvency 2 internal model. It looks at EIOPA's Common Application Package (CAP) and explains the templates firms should use. PRA also addresses the practicalities of submission and advises firms to speak to their usual supervisory contact to discuss what will work in each individual case. (Source: PRA Updates on Solvency 2 Internal Model)