PRA updates on designating investment firms

The PRA has published policy statement 27/21 which sets out:

• the PRA’s updated Statement of Policy – designation of investment firms for prudential supervision by the PRA (at Appendix 1); and
• the instrument making amendments to the Definition of Capital Part of the PRA Rulebook – the CRR Firms: Investment Firms Prudential Regime Instrument 2021 (at Appendix 2).

The updated policy and Rulebook amendment take effect on 1 January 2022.