Prudential Regulation Authority Rulebook

4.1

In order to promote transparency in the regulatory regime, and to implement the outcome of HMT’s Solvency II Review^[15], the PRA will publish regular reports on the MA framework alongside the PRA Annual Report, covering application review timelines and decision rates, with the first report to be published in 2025.

4.2

The PRA has set a target of six months for a decision on an MA application as set out in paragraph 2.29 of this SoP. Streamlined reviews are generally expected to be completed over a shorter timeframe, subject to the points made in paragraph 3.12 of this SoP.