UK Overseas Prudential Requirements Regime (Credit Institutions and Investment Firms) Regulations 2026 published

The Overseas Prudential Requirements Regime (Credit Institutions and Investment Firms) Regulations 2026 have been published, accompanied by an explanatory memorandum. The Regulations support the transition to the FSMA 2000 model of regulation, under which detailed prudential requirements are set by the UK Prudential Regulation Authority within a framework established by government and Parliament. This transition entails the revocation of provisions of the UK Capital Requirements Regulation (UK CRR) and restatements, as needed, in UK legislation to facilitate the FSMA model, with UK CRR provisions replaced with regulator rules, supervisory statements and statements of policy.

The Regulations restate existing UK CRR equivalence provisions in legislation to create a single overseas prudential requirements regime (OPRR), preserving the overall scope and effect of the current equivalence regimes and also preserving existing equivalence decisions by treating them as if they were designations under the new OPRR.

The draft version of the Regulations was laid before Parliament in July. We cover the OPRR in more detail in our blog post titled “UK PRA final rule changes for overseas prudential requirements regime”. The Regulations will enter into force on 1 January 2027.

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