BoE and FSA have issued a draft version of the statement of policy on designation of investment firms for prudential supervision by the Prudential Regulation Authority (PRA). The draft PRA-Regulated Activities Order (see FReD 19 October – “Treasury consults on FSMA SIs”) requires this statement of policy on the approach and factors that PRA will consider when taking on the prudential supervision of an investment firm, which otherwise would have been under the sole supervision of FCA. BoE asks for comments by 4 January 2013. (Source: Draft Policy Statement on Designation of Investment Firms for PRA Supervision)