Top news and publications
- PS16/25 – Markets in Financial Instruments Directive Organisational Regulation (MiFID Org Reg)
- PS17/25 – Matching Adjustment Investment Accelerator
- PS18/25 – Retiring the refined methodology to Pillar 2A – near-final
- PS19/25 – Restatement of CRR requirements – 2027 implementation – near-final
- PS20/25 – The Strong and Simple Framework: The simplified capital regime for Small Domestic Deposit Takers (SDDTs) – near-final
- PS21/25 – Remuneration Reform
News and speeches
Effective practices: Cyber response and recovery capabilities
20 October 2025
Publication from the Bank, Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to firms and financial market infrastructures highlighting observed effective practices of cyber response and recovery capabilities.
Innovation Week 2025
Following a successful ‘PRA Innovation Week’ in 2024, the PRA ran 'Innovation Week 2025' internally from 30 September to 2 October. This was a multi-day, innovation-focused event to enable the PRA and the wider Bank to stay attuned to the fast pace of technological innovation in the financial services industry.
Innovation Week is designed to offer PRA and wider Bank staff insights into emerging technologies that are transforming the financial system, understand how they affect regulatory practice, and explore how innovation can support competition and growth in the UK economy. The programme featured panels and discussions on topics including artificial intelligence, tokenised innovation and digital securities, and the role of policy in supporting innovation.
The event encouraged debate about both opportunities and risks, highlighting how proportionate regulation is essential to fostering a dynamic and resilient financial system. The event reflects the PRA’s commitment to understanding the innovations shaping growth and competitiveness in the UK and to engaging with industry developments in areas such as AI, digital money, and new business models.
Banking publications and updates
PS16/25 – Markets in Financial Instruments Directive Organisational Regulation (MiFID Org Reg)
9 October 2025
This policy statement (PS) provides feedback to responses the PRA received to consultation paper (CP) 9/25 – Markets in Financial Instruments Directive Organisational Regulation (MiFID Org Reg). It also contains the PRA’s final policy. This is a restatement of existing organisational requirements for firms contained in MiFID Org Reg into the PRA Rulebook, with no material changes.
PS21/25 – Remuneration Reform
15 October 2025
In November 2024, the PRA and FCA (jointly ‘the regulators’) published joint PRA CP16/24 – Remuneration Reform and FCA CP24/23 ‘Remuneration Reform’. The CP proposed reforms to the regulators’ remuneration rules and expectations for banks, building societies and PRA designated investment firms (hereafter ‘firms’).This joint PS provides feedback to the responses the regulators received to the CP and contains the regulators’ final policy.
PS18/25 – Retiring the refined methodology to Pillar 2A – near-final
28 October 2025
This near-final PS is relevant to all PRA-regulated banks, building societies, designated investment firms, and all PRA-approved or PRA-designated holding companies. Therefore, this near-final PS is also relevant to small domestic deposit takers (SDDTs), as well as firms who meet the SDDT criteria and are considering becoming an SDDT.
PS19/25 – Restatement of CRR requirements – 2027 implementation – near-final
28 October 2025
This near-final PS is relevant to PRA-authorised banks, building societies, PRA-designated investment firms and PRA-approved, or PRA-designated, financial or mixed financial holding companies (collectively ‘firms’). It is not relevant to credit unions or third-country branches. In addition, Chapter 4 on ECAI mapping is also relevant to UK Solvency II firms, the Society of Lloyds and its managing agents, and insurance and reinsurance undertakings that have a UK branch (third country branch undertakings). The policies and requirements included in this near-final PS are intended to take effect from 1 January 2027.
PS20/25 – The Strong and Simple Framework: The simplified capital regime for Small Domestic Deposit Takers (SDDTs) – near-final
28 October 2025
This near-final PS is relevant to PRA-authorised banks and building societies, PRA-designated UK investment firms, and their qualifying parent undertakings, which for this purpose comprise financial holding companies and mixed financial holding companies, as well as credit institutions, investment firms, and financial institutions that are subsidiaries of these firms, regardless of their location. It should be of particular interest to SDDTs, firms who meet the SDDT criteria and are considering becoming an SDDT, and entities that do business with SDDTs.
Cross cutting publications
Low impact amendments to PRA rules and policy
16 October
Earlier this year, the PRA launched a more efficient approach to consulting on and making low impact amendments to rules and policy material, aimed at reducing burden on firms. The PRA is using this process to:
- consult on a collection of low impact amendments (LIAC02/25);
- following (LIAC01/25), finalise a collection of low impact amendments (LIAF02/25); and
- make a minor update and a correction without further consultation (LIAF02/25).
The LIAC02/25 consultation runs to 13 November 2025. Please send any feedback to LIAP@bankofengland.co.uk.
Insurance publications and updates
PS17/25 – Matching Adjustment Investment Accelerator
23 October 2025
This PS provides feedback to responses the PRA received to CP7/25 –Matching Adjustment Investment Accelerator (MAIA).
The MAIA is a significant development in the approach to the Matching Adjustment (MA) in the UK. The PRA considers that the introduction of the MAIA framework will reduce barriers to timely and capital-efficient investment by insurers, including productive investments in the UK.
UK Solvency II Reporting and Disclosure
Following the implementation of the UK Solvency II reporting reforms at the end of 2024, the PRA intends to publish proposals for consultation in the coming months to address feedback and queries and introduce limited changes. Subject to the outcome of the consultation, these amendments would take effect for year-end 2026 reporting requirements.
Full details will be made available at the time of publication. Firms and stakeholders are encouraged to engage with the consultation process once launched.
More information
Bank Underground – a blog for Bank of England staff to share views that challenge – or support – prevailing policy orthodoxies. The views expressed here are those of the authors, and are not necessarily those of the Bank of England or its policy committees.
Bank Overground – the purpose of Bank Overground is to share our internal analysis. Each bite-size post summarises a piece of analysis that support a policy or operational decision.
Explainers – from interest rates and inflation through to bank failures and financial crises, Explainers uses everyday examples and engaging visuals to bring economics to life.
European and International developments – readers are referred to the following websites: