Guidance

SoP – The implementation of ringfencing: the PRA’s approach to ring-fencing transfer schemes

Chapter

The PRA’s certificate confirming consent of the RFTS application to the court

Printed on: 06/11/2024

Rulebook at: 01/01/2019

7

The PRA’s certificate confirming consent of the RFTS application to the court

7.1

An RFTS application to the court may only be made with the consent of the PRA. In deciding whether to give consent, the PRA must have regard to the scheme report. The PRA will also consider all other relevant matters. These may include whether, after implementation of the scheme, the PRA-authorised firms within the group will be in compliance with threshold conditions and whether relevant entities in the group will be in compliance with the ring-fencing provisions.

  • 01/01/2019