1 March 2018 - 28 February 2019
Presented to Parliament pursuant to paragraph 19(4) of Schedule 1ZB of the Financial Markets and Services Act 2000 (FSMA) as amended by the Financial Services Act 2012 and the Bank of England and Financial Services Act 2016.
The report contains:
- Foreword by the Chair
- Report by the Chief Executive
- Prudential Regulation Committee (PRC) – members and responsibilities
- Annual report of the PRC to the Chancellor of the Exchequer
- Review of 2018-19
- Complying with FSMA
- PRA Annual Competition Report – June 2019 and
- Financial Review of 2018-19
From 1 January 2019, the PRA’s general safety and soundness objective has been amended to reflect the aims of structural reform (also referred to as ring-fencing). The PRA’s first report on certain aspects of ring-fencing is included in the ‘Complying with FSMA’ section.
The PRA Annual Report completes our reporting obligations for the year ending 28 February 2019, following the publication of the PRA Business Plan 2019/20, including the PRA Strategy.
Readers may find it helpful to read the PRA Annual Report alongside the Bank of England Annual Report and Accounts, which includes the PRA’s statement of accounts for the reporting period ended 28 February 2019.