Prudential Regulation Authority Rulebook

8.1

Where a firm not previously subject to the rules comes into scope within 12 months of a report submission date, the PRA may consider the granting of a waiver or modification of the relevant requirement or requirements to postpone the submission or disclosure date, or both, until the next cycle. In considering a firm application for a waiver or modification, the PRA would take into account, among other things, whether the firm came into scope as a result of an acquisition or through organic growth.

8.2

Where a firm comes into scope between 12 to 24 months of a report date, the PRA is less likely to grant a waiver or modification of the requirement to assess and report to the PRA. However, the PRA may consider, upon receipt of an application from a firm, granting a waiver or modification from the requirement to publish a summary of the firm’s report.