The Prudential Regulation Authority (PRA) has published its Low Impact Amendments Finalisation 2026, finalising the rule change consulted on in CP23/25 on regulatory fees and issuing a set of minor amendments and corrections to the PRA Rulebook and related policy materials without further consultation. The package updates invoice due dates for larger fee payers, removes redundant references following the revocation of the Markets in Financial Instruments Directive Organisational Regulation, clarifies aspects of the Small Domestic Deposit Taker (SDDT) regime for certain applicants, and adjusts model risk management supervisory expectations. In the Fees Part of the PRA Rulebook, rule 3 is amended to update invoice due dates for firms that pay GBP 50,000 or more in PRA and Financial Conduct Authority fees in a year, with the PRA finalising the proposals as consulted on following four supportive responses, effective 30 April 2026. The Skills, Knowledge and Expertise Part is amended to delete rules 2.1A and 2.1B and related definitions, reflecting that the revoked Organisational Regulation requirements have already been transposed into the General Organisational Requirements Part via CP9/25 and PS16/25, effective 30 April 2026. SoP2/23 on the SDDT regime is amended to add an illustrative footnote for applicants with non-UK parent undertakings on which entities to include or exclude when assessing whether the group’s total assets are within the GBP 20 billion threshold, effective 23 April 2026. SS3/18 is amended so that, from 16 April 2026 onwards, firms with internal model approval are expected to assess their stress test model risk management practices against SS1/23 (with other firms continuing to assess against SS3/18), effective 23 April 2026, and SS1/23 is clarified to state its expectations are not conditions for internal model approval and that newly permitted internal model firms have 12 months from the grant of permission to comply, effective 23 April 2026.
Prudential Regulation Authority 2026-04-23
Prudential Regulation Authority finalises low-impact amendments updating fee invoice due dates and clarifying SDDT and model risk policies
The Prudential Regulation Authority has finalised its Low Impact Amendments Finalisation 2026, confirming changes to regulatory fees and making minor amendments and corrections to the PRA Rulebook and related policy materials. Key measures update invoice due dates for larger fee payers, remove redundant references following revocation of the Markets in Financial Instruments Directive Organisational Regulation, clarify Small Domestic Deposit Taker regime guidance, and refine model risk management supervisory expectations for internal model firms.