The PRA’s Approach to Enforcement

The FCA's proposed amendments to its Enforcement Guide, as outlined in CP24/2, had rightly received a great deal of focus from industry, practitioners, press, and politicians in the preceding months. Those proposals somewhat overshadowed the Prudential Regulation Authority's (“PRA”) changes to its Approach to Enforcement documents, including the introduction of the new Early Account Scheme.

In the webinar, Tom Makin, who had recently spent a year on secondment in the PRA’s Enforcement and Litigation Division, and Lily Mortimer covered the stated drivers behind the PRA’s new approach, its key features, and the practical considerations firms should have had in mind at the outset of a PRA enforcement investigation, with a particular focus on the Early Account Scheme.