Banking regulation—United Kingdom—Q&A guide


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Restructuring & Insolvency expert
Practice notes

Banking regulation—United Kingdom—Q&A guide


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Restructuring & Insolvency expert

Practice notes
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This Practice Note contains a jurisdiction-specific Q&A guide to banking regulation in United Kingdom published as part of the Lexology Getting the Deal Through series by Law Business Research (Law stated at: 24 February 2023).

Authors: 1 Crown Office Row—Edite Ligere

1. What are the principal governmental and regulatory policies that govern the banking sector?

Two key regulators regulate the UK banking sector. The financial safety and soundness of banks is regulated for prudential purposes by the Prudential Regulation Authority (PRA), which is part of the Bank of England, the United Kingdom's central bank. The Financial Conduct Authority (FCA) regulates how banks conduct themselves within financial markets and with clients. The Financial Policy Committee (FPC), which operates from within the Bank of England, acts as the macroprudential regulator for the UK financial system. The legislative framework for UK bank authorisations is set out in the Financial Services and Markets Act 2000, as amended (FSMA 2000). The FSMA 2000 lists the statutory objectives of the PRA and the FCA.

The PRA's principal objective is to promote the safety

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Jurisdiction(s):
United Kingdom
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