UK’s Prudential Regulation Authority Publishes Annual Business Plan | Cadwalader, Wickersham & Taft LLP
The UK’s Prudential Regulation Authority (“PRE“) has published its Business Plan for 2023/23 setting out its strategic priorities and anticipating its new, secondary objective to facilitate international competitiveness and economic growth which is currently being considered in Parliament in the Financial Services and Markets Bill (“FSM Bill”).
The Business Plan covers four strategic priorities for the coming year:
1. Maintain and build on the safety and soundness of the banking and insurance sector and ensure continuing resilience
The focus here is on financial resilience, and the PRA leads with its recent consultation on the UK’s implementation of Basel 3.1 standards…