Friday 3 April 2015

UK: PRA supervisory statement on internal governance

The Prudential Regulation Authority yesterday published a supervisory statement on internal governance: see here (pdf). The statement sets out the PRA's expectations of banks, building societies and PRA-designated investment firms, in respect of their compliance with internal governance rules in the PRA Rulebook. It includes, for example, the PRA's view on when it is appropriate for a firm to have an audit committee.

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