On 29 July 2026, the Prudential Regulation Authority (PRA) published a set of low impact amendments to its rules in Low Impact Amendments Finalisation July 2026 (LIAF02/26).
In its previous consultation the PRA consulted on the following proposals:
- Amendments to the Groups Part of the PRA Rulebook.
- Consequential amendments to a collection of PRA rules relating to the Capital Requirements Regulations 2013.
- Amendments to the Countercyclical Capital Buffer Rates UK Technical Standard.
- Amendment to the frequency of the O-SII designation exercise in Statement of Policy (SoP) 1/16 – The PRA’s approach to identifying other systemically important institutions (O-SIIs).
- Amendments to the definition of firms in scope of the O-SII buffer in SoP1/16 and SoP4/16 – The PRA’s approach to the implementation of the O-SII buffer.
- Amendments to SoP1/20 – The PRA’s approach to the publication of Solvency II technical information.
The PRA received one response to the consultation. This related to proposal 1 (amendments to the Groups Part of the PRA Rulebook) and proposal 3 the (amendments to the Countercyclical Capital Buffer Rates UK Technical Standard). The PRA received no responses relating to proposals 2, 4, 5 and 6. The PRA will finalise proposals 2,4 and 5 without any significant changes to the draft rules and policy material consulted on. For proposal 6, the PRA has made minor amendments to its proposed updates to SoP 1/20, which are intended to improve clarity and do not alter the substance of the policy.
The rule amendments relating to proposal 2 will come into effect on 1 January 2027. The SoP amendments relating to proposal 4, 5 and 6 will come into effect on 29 July 2026.