Recent changes to the PRA’s approach to enforcement show an increased focus on expediting the investigative process and incentivising early admissions.
By Andrea Monks, Rob Moulton, and Anna James
On 30 January 2024, the Bank of England (the Bank) unveiled a number of changes to the Prudential Regulation Authority’s (the PRA’s) approach to enforcement (PS1/24), including the introduction of an Early Account Scheme and Enhanced Settlement Discount. The changes largely reflect the proposals included in the