This Practice Note sets out how the Prudential Regulation Authority (PRA) conducts its formal administrative procedures under the Financial Services and Markets Act 2000 (FSMA 2000), with particular emphasis on Part XXVI (Notices), alongside the PRA’s statements of policy and procedure for reaching decisions...
Outcomes may involve supervisory steps—such as varying or imposing requirements—or formal enforcement, including a public censure or a financial penalty, directed at PRA‑authorised firms or individuals...
It explains the PRA’s decision‑making routes for issuing statutory notices under FSMA 2000, namely:
The Note also sets out how subjects can make representations, including orally, at a hearing before PRA decision‑making bodies such as the Supervision, Risk and Policy Committee (SRPC) or the Enforcement Decision Making Committee (EDMC)...
The Securitisation Regulation 2024 (SI 2024/102) broadened the PRA’s enforcement remit to cover firms engaged in securitisation that are not PRA‑authorised. Under the Securitisation Regulations 2024, Schedule 1, paragraph 12 applies FSMA 2000, Part XXVI, with modifications, to the giving of notices under that regime. This Practice Note provides high‑level information on these powers...
When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...
Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...