The Prudential Regulation Authority has published the results of its 2025 firm feedback exercise, based on a much larger sample of supervised firms, showing that firms rated the PRA most positively on the clarity of its regulatory objectives and expectations and on the effectiveness of their supervisory relationships. Feedback was less positive on the regulatory framework, rules and policy, while firms also called for clearer supervisory feedback, better co-ordination, greater proportionality and more visibility on timelines and workplans. The 2025 questionnaire was sent to 814 PRA-regulated firms or groups, nearly double the 2024 total, and 439 responded. The expansion included all credit unions for the first time, which the PRA said affected year-on-year comparisons. Average scores across the full population were slightly lower than in 2024 on most topics, but were closer to 2024 levels when credit union responses were excluded. Higher-impact firms again reported that the PRA had a better understanding of their business models and risks, while lower-impact firms gave more positive feedback on the handling of data requests. In response, the PRA pointed to work already under way on policy clarity, co-ordination with the Financial Conduct Authority and international regulators, prudential data governance, the Future Banking Data project and the Strong and Simple initiative, and said supervisory teams have been reminded to improve communications on workplans, data requests and engagement with other regulators. The next survey will be sent to firms in August 2026. Final decisions on the format will be taken in mid-2026, with the core questions expected to remain broadly similar to those used in 2025 and supplemented by a small number of topical questions.
Prudential Regulation Authority 2026-05-15
Prudential Regulation Authority publishes 2025 firm feedback results highlighting weaker scores on rules and policy and planned supervisory follow-up
The Prudential Regulation Authority published results of its 2025 firm feedback exercise, based on an expanded sample including all credit unions, showing strong scores for clarity of regulatory objectives and supervisory relationships but weaker views on the regulatory framework, rules and policy. Firms requested clearer supervisory feedback, better co-ordination, greater proportionality and more visibility on timelines and workplans, to which the PRA pointed to initiatives on policy clarity, data governance, co-ordination with the Financial Conduct Authority and international regulators, and its Strong and Simple and Future Banking Data projects.