Regulatory Alerts2026-05-18
Added · Updated
PRA Announces Ring-Fence Change to Reduce Costs
The Prudential Regulation Authority has published the official list of ring-fenced bodies for five major UK banking groups as of 22 April 2026. This regulatory update specifies which subsidiaries within Barclays, HSBC, Lloyds Banking Group, NatWest Group, and Santander UK must operate under ring-fencing rules pursuant to section 142A of the Financial Services and Markets Act 2000. The designated structural separation aims to protect core retail banking functions while reducing operational costs for affected financial institutions.
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