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PRA publishes consultation papers on approach to supervision of third country firms after Brexit

The PRA has issued two consultation papers on its approach to branch authorisation and supervision, addressed to international banks and to international insurers.  Both consultations close on 27 February 2018.

The Bank of England has also published letters from Sam Woods, Deputy Governor for Prudential Regulation regarding PRA regulated firms’ planning assumptions, and from Sir John Cunliffe, Deputy Governor for Financial Stability, outlining how the Bank of England expects non-UK Central Counterparties (CCPs) to be recognised to provide services in the UK following Brexit and asking them to engage with the Bank in relation to planning as soon as possible.

Emma Radmore