PRA Expands Managers’ Role In Testing Recovery Plans

Law360, London (June 10, 2019, 4:47 PM BST) -- The senior managers in charge of drawing up recovery plans to safeguard their banks or insurance firms in times of financial stress will be responsible for testing how well their fire drills work, the Prudential Regulatory Authority said in proposals set out Monday.

The Bank of England’s regulatory arm said it plans to give managers at financial businesses additional responsibility that will force them to oversee assessments of their resolution plans. A senior manager is currently appointed to pen a recovery plan as a measure to protect their company in times of financial hardship.

The PRA has been assessing how firms...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS