PRA has published a policy statement on feedback to its consultation on the PRA Rulebook (see FReD 21 August) and to some parts of its November occasional consultation paper (see FReD 13 November). The statement includes final rules to consolidate the Rulebook parts relevant to the Society of Lloyd’s as well as transposing rules within scope of the Rulebook Project, into the PRA Rulebook. The instruments creating the new modules in the Rulebook and making consequential changes are:

  • PRA Rulebook: Financial Conglomerates Instrument 2015;
  • PRA Rulebook: CRR firms: Group Risk Systems Instrument 2015;
  • PRA Rulebook: Regulatory Reporting (Amendment No.1) Instrument 2015;
  • Handbook (Rulebook Consequentials) Instrument 2015;
  • PRA Rulebook: Interpretation (Amendment) Instrument 2015; and
  • PRA Rulebook: Solvency 2 firms, Non Solvency 2 firms, Non-Authorised Persons: Lloyd’s Instrument (No. 2) 2015.

The rules will come into force on 1 January 2016, except for part of the Handbook (Rulebook Consequentials) Instrument 2015, which comes into force on 7 March 2016. (Source: PRA Finalises Lloyd’s and Rulebook Project Rules)