- Regulated activities — Bank of England — UK Financial Conduct Authority (FCA) — UK Prudential Regulation Authority (PRA)
This chapter focuses on the Financial Conduct Authority's (FCA) Handbook of Rules and Guidance and the Prudential Regulation Authority's (PRA) Rulebook. The FCA Handbook of Rules and Guidance and the PRA Rulebook are two of the most important products or physical expressions of the FCA and PRA's general functions with respect to financial services regulation: they are the primary consolidation of the rules, and (in the case of the FCA) guidance through which that regulator performs its particular functions. The chapter first explains what material goes into the FCA Handbook and the PRA Rulebook before providing an overview of the structure and content of each document. It then examines high-level standards in the FCA Handbook and the PRA Rulebook, along with the rise and fall of principles-based regulation in the UK. It also considers the processes governing the Handbook and Rulebook as well as the interpretation of both documents.