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2020-12-03

It sets standards and supervises financial institutions at the level of the individual firm. The PRA is part of the Bank of England and is responsible for prudential regulation of banks, building societies, credit unions, major investment firms and insurers. Along with work with other parts of the Bank of England, the PRA will work closely with the Financial Conduct Authority (FCA) to create a desired “twin peak” regulatory environment within the UK. The PRA's most significant supervisory decisions are taken by the Prudential Regulation Committee – comprising the Governor of the Bank of England, the Deputy Governor for Financial Stability, the Deputy Governor for Monetary Policy, the Deputy Governor for Markets & Banking, the chief executive officer of the PRA (and Deputy Governor for Prudential Regulation) and independent non-executive members. In December, the Bank of England (the Bank) and Prudential Regulation Authority (PRA) consulted on the Resolvability Assessment Framework (RAF) for firms in the UK. Fig. 1 – Breakdown of the Bank of England and Prudential Regulation Authority consultation paper requirements Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice

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