On November 24, 2014, the PRA published a consultation paper setting out further proposals on how the regulator intends to redraft the PRA Handbook. The PRA began work in January 2014 on reshaping Handbook material inherited by it from the Financial Services Authority so as to create a separate PRA-only Rulebook. The PRA Rulebook, although not yet complete, currently appears on the existing handbook website in PDF form but will move to a new online site in mid-2015. The PRA Rulebook will set out the core rules and directions applicable to firms regulated by the PRA. Handbook guidance will either move into supervisory statements, policy statements or appear on the PRA website (the latter is intended for process-related materials). The current consultation covers status disclosure, controllers, close links, notifications and systems and controls, governance and transfers of insurance business.
The consultation paper is available at: