Financial markets need to be honest, fair and effective so that consumers get a fair deal.
We aim to make markets work well – for individuals, for business, large and small, and for the economy as a whole.
We do this by regulating the conduct of more than 59,000 businesses. We are also the prudential regulator for more than 18,000 of these businesses.
The Prudential Regulation Authority (PRA) is the prudential regulator of around 1,500 banks, building societies, credit unions, insurers and major investment firms. As a prudential regulator, it has a general objective to promote the safety and soundness of the firms it regulates.
We were established on 1 April 2013, taking over responsibility for conduct and relevant prudential regulation from the Financial Services Authority.