PRA (Prudential Regulatory Authority) Reviews
Part of PRAs responsibilities is to investigate firms that report to it for misdemeanours, breaches, lapses, and failures, all of various sorts. It often follows a complaint, or breach of reporting measures. Its a pretty dry, very specialist process.
Those that need to respond, have to prove that the allegations of breach was not correct, or that it had context, or that it was temporary, and measures have been put in place to rectify the wrong done. PRA does not always get it wrong, and it often needs a fresh pair of eyes or an explanation.
I have been involved with several of these. They are, as I said, specialist and they require specific knowledge of systems, processes, or measurements of risk or capital, and so on.
So, solicitors out there, if you are representing client that is under going a PRA investigation, and you need help, give me a call
#PRAINVESTIGATION