Prudential Regulatory Authority or Prudential Regulation Authority may refer to:
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Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices, case law.
The Financial Services Authority (FSA) was a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 1985. Its board was appointed by the Treasury, although it operated independently of government. It was structured as a company limited by guarantee and was funded entirely by fees charged to the financial services industry.
The Australian Prudential Regulation Authority (APRA) is a statutory authority of the Australian Government and the prudential regulator of the Australian financial services industry. APRA was established on 1 July 1998 in response to the recommendations of the Wallis Inquiry. APRA's authority and scope is determined pursuant to the Australian Prudential Regulation Authority Act, 1998 (Cth).
Sainsbury's Bank plc, trading as Sainsbury's Bank is a British bank wholly owned by Sainsbury's, a national supermarket chain in the United Kingdom. The bank began trading on 19 February 1997 as a joint venture between J Sainsbury plc and Bank of Scotland. Sainsbury's took full ownership of the bank in January 2014.
Allied Irish Bank (GB) is a bank operating in the United Kingdom as a subsidiary of Allied Irish Banks.
Australian insurance law is based on commercial contract law, but is subject to regulations that affect the insurance industry and insurance contracts within Australia. Commonwealth Parliament has power to make laws with respect to insurance and insurance companies under section 51(xiv) and (xx) of the Australian Constitution. Generally, the Insurance Act 1973 and Insurance Contracts Act 1984 are the main acts that apply, however there are a number of other pieces of legislation enacted by the states, private codes and volumous case law all of which forms the body of insurance law.
Child & Co. is a private, formerly independent bank that is now owned by The Royal Bank of Scotland Group. The Royal Bank of Scotland incorporating Child & Co., Bankers is based at 1 Fleet Street on the western edge of the City of London, beside Temple Bar. Child & Co. is authorised as a brand of The Royal Bank of Scotland by the Prudential Regulation Authority.
The Coventry Building Society is a building society based in Coventry, England. It is the second largest in the United Kingdom with total assets of more than £46 billion at 31 December 2018. It is a member of the Building Societies Association. The society has 1.5m saver-members and a further 350,000 borrower-members.
Monmouthshire Building Society,, is a Welsh building society, which has its head office in Newport, South Wales. The Society provides a range of mortgage and savings products. A broad range of ancillary services, including insurance, financial planning, legal services and funeral plans are also provided by a number of other third party companies.
A statutory authority is a body set up by law which is authorised to enact legislation on behalf of the relevant country or state. They are typically found in countries which are governed by a British style of parliamentary democracy such as the United Kingdom and the Commonwealth countries like Australia, Canada, India and New Zealand. They are also found in Israel and elsewhere. Statutory authorities may also be statutory corporations, if created as a body corporate.
The Financial Services Board (FSB) was the government of South Africa's financial regulatory agency responsible for the non-banking financial services industry in South Africa from 1990 to 2018. It was an independent body which had a mandate to supervise and regulate the non-bank financial services industry in the public interest. This included the regulation of the biggest stock exchange in Africa the Johannesburg Stock Exchange. From 1 April 2018 the FSB was split into prudential and market conduct regulators.
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.
The Prudential Regulation Authority (PRA) is a United Kingdom financial services regulatory body, formed as one of the successors to the Financial Services Authority (FSA). The authority is structured as a limited company wholly owned by the Bank of England and is responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. It sets standards and supervises financial institutions at the level of the individual firm.
Metro Bank plc is a retail and commercial bank operating in the United Kingdom, founded by Anthony Thomson and Vernon Hill in 2010. At its launch it was the first new high street bank to launch in the United Kingdom in over 150 years. It is listed on the London Stock Exchange.
The UK-based Nationwide Building Society had a presence in Ireland since 24 March 2009, offering deposit accounts only. Accounts were available to Irish residents only and did not confer membership of the UK Building Society. Nationwide UK (Ireland) had a retail outlet in Merrion Row in Dublin city centre, however its business was mostly online, by post or by phone. Amongst the products offered to its customers were UK Sterling savings accounts as well as Euro savings accounts.
The European Systemic Risk Board was established on 16 December 2010 in response to the ongoing financial crisis. It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contribute to the prevention or mitigation of systemic risks to financial stability in the EU. It shall contribute to the smooth functioning of the internal market and thereby ensure a sustainable contribution of the financial sector to economic growth.
The European Banking Authority (EBA) is a regulatory agency of the European Union headquartered in Paris. Its activities include conducting stress tests on European banks to increase transparency in the European financial system and identifying weaknesses in banks' capital structures. The EBA was established on 1 January 2011, upon which date it inherited all of the tasks and responsibilities of the Committee of European Banking Supervisors (CEBS). After the United Kingdom withdrawal from the European Union referendum the agency has relocated to Paris.
Financial regulation in Australia is extensive and detailed.
Prudential regulation is a type of financial regulation that requires financial firms to control risks and hold adequate capital as defined by capital requirements, liquidity requirements, by the imposition of concentration risk limits, and by related reporting and public disclosure requirements and supervisory controls and processes. This is in contrast to consumer protection and market conduct rules that are also part of financial regulations.
Marks & Spencer Financial Services plc, trading as M&S Bank, is a retail bank operating in the United Kingdom. It was formed as the financial services division of the British retailer Marks & Spencer Group (M&S) in 1985, and has been operated by HSBC Bank since it was sold in 2004. The bank launched as St Michael Financial Services in 1985, using Marks & Spencer's main brand at the time. It subsequently operated under the M&S Money brand from 2003 and later adopted the M&S Bank name when the bank was bought by HSBC.