United Kingdom

PRA Regulatory Digest - UK Financial Services Regulatory News

The PRA published its February 2026 Regulatory Digest, highlighting key financial services regulatory news and publications. This includes consultations on securitisation reforms, rule changes for overseas prudential requirements, and updates to Solvency II rules, alongside a discussion paper on future banking data.

Credit Union Service Organisations Policy Statement Feedback

The Prudential Regulation Authority (PRA) has published a policy statement providing feedback on responses to its consultation regarding Credit Union Service Organisations (CUSOs). This statement includes final policy amendments to the PRA Rulebook and updates to supervisory guidance, relevant to PRA-authorised credit unions.

Consultation on UK Solvency II Own Funds Rules Updates

The Bank of England's Prudential Regulation Authority (PRA) has issued a consultation paper (CP4/26) proposing updates and fixes to UK Solvency II own funds rules and expectations. The consultation seeks feedback on these proposed changes, with responses due by April 24, 2026.

West Mercia Police Fined After Officer Injured Responding to Collision

The Health and Safety Executive (HSE) has fined West Mercia Police £85,800 after a student officer sustained life-changing injuries when hit by a car while responding to a traffic collision. The investigation found the force failed to adequately manage risks, provide suitable training, and supply adequate equipment.

Grounds Maintenance Company Fined After Employee Fatality

MHS Countryside Management Limited was fined £27,000 after an employee died operating a ride-on lawnmower. The Health and Safety Executive investigation found the company failed to conduct a risk assessment and the machine's safety roll-over protection system had been removed. The company pleaded guilty to breaching the Health and Safety at Work etc. Act 1974.

Company Sentenced for Worker Vibration Illnesses

Drury Engineering Services Ltd was fined £44,000 after pleading guilty to health and safety breaches that led to seven workers developing vibration-related illnesses. The company failed to adequately assess risks, implement control measures, or provide health surveillance and training.

Care Home Fined After Resident Choked to Death

Riverside Care Limited has been fined £16,000 after a resident choked to death on food not prepared to his dietary requirements. The Health and Safety Executive investigation found a failure in the system for preparing modified meals, leading to a fatal outcome. The company pleaded guilty to breaching the Health and Safety at Work etc. Act 1974.

Somers Forge Limited Fined £750,000 After Employee Death

Somers Forge Limited has been fined £750,000 after an employee died in a lathe accident. The Health and Safety Executive (HSE) found the company failed to implement safe operating procedures and prevent access to dangerous machinery. The incident occurred on December 8, 2023, and the fine was issued on February 18, 2026.

Bank of England Weekly Report

The Bank of England published its weekly report on March 5, 2026, detailing the latest data on its assets and liabilities as of March 4, 2026. The report includes figures for sterling and foreign currency assets and liabilities, providing a snapshot of the Bank's financial position.

Bank of England Consultation on CCP Mobilisation Powers

The Bank of England has published a consultation paper outlining its proposed approach to using its requirements and permissions powers to facilitate the mobilisation of new Central Counterparties (CCPs). The consultation seeks feedback on how these powers will be applied to new CCPs entering the market.