Statement of Policy - Interpretation of EU Guidelines and Recommendations: Bank of England and PRA approach after the UK's withdrawal from the EU (updated 15 November 2024) (effective from 31 December 2024)
This is a Statement of Policy to deliver the general approach being taken to ensure there is a functioning legal framework when the UK leaves the EU.
Overview
This joint Bank of England (Bank) and Prudential Regulation Authority (PRA) Statement of Policy (SoP) sets out the Bank’s and PRA’s approach to EU Guidelines and Recommendations in light of the UK’s withdrawal from the European Union (EU).
This SoP is relevant to all PRA-regulated firms, and all Bank-regulated financial market infrastructure providers (FMIs) operating, or intending to operate, in the UK.
Current version
Published on 1 November 2024. Effective from 1 November 2024.
Following PS18/24 – Supervisory statement – Prudential assessment of acquisitions and increases in control
Future version
Published on 15 November 2024. Effective from 31 December 2024.
Following PS15/24 – Solvency II: Restatement of assimilated law
Near-final version
Published on 12 December 2023. Effective from 1 July 2025