PRA strengthens individual accountability expectations

The PRA has published PS20/19, ‘Strengthening individual accountability: resolution assessments and reporting amendments’. This Policy Statement sets out:

  • feedback to responses to CP 12/19, ‘Strengthening individual accountability: Resolution assessments and reporting amendments’,
  • the PRA’s final policy in relation to the prescribed responsibility (PR) for recovery plans and resolution packs;
  • consequential amendments (to take effect from 9 December) to SS 28/15, ‘Strengthening individual accountability in banking’; and 
  • amendments to the Statement of Responsibilities form for the Senior Managers Regime.

These changes will take effect from 9 December 2019.

Emma Radmore