We want to ensure the financial services and products we all rely on can be provided in a safe and sound way. We, at the PRA, create policies for firms to follow as well as watch over aspects of the business – we call this supervision. That’s where the Prudential Regulation Authority (PRA) comes in.Īs part of the Bank of England, it is our role to ensure that firms act safely and reduce the chance of getting into financial difficulty. There is a responsibility that comes with that. These are the companies that hold your money for you so that you can make and receive payments and control your financial life. The same goes when buying a policy with an insurer, you expect it to pay out when you need it. You trust that it will look after your money and, when you want to access that money again, it will be there. Making a deposit into a bank or building society account is like giving your trust to that organisation. You wouldn’t give money to someone you didn’t trust, would you?
The PRA’s statutory powers and enforcement SPiN may be the perfect place for you to host your next event.
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