PRA confirms SMCR insurance extension rules

PRA has published a policy statement to its second consultation on extending the SMCR to insurers.  Following FCA’s finalisation of its rules on the extension, PRA now confirms it had no responses to its consultation and has made no changes to the rules it consulted on. As a result, it has now made the rules, which take effect from 10 December 2018. PRA also confirms this is the final policy statement on the extension.