FIN.

PRA consults on the identification of material risk takers

The PRA is consulting on proposed changes in respect of the applicable requirements on the identification of material risk takers (MRT) for the purposes of the PRA’s remuneration regime.

The proposed amendments will rationalise the MRT identification regime, remove duplications, and promote clarity by consolidating all legislative requirements within the PRA Rulebook. Subject to currency threshold amendments, the substance of the provisions remains the same, and therefore the PRA does not expect that firms will incur additional costs.

The consultation closes on 8 November 2021.

Lucy Hadrill