The Bank statement of policy publishes the final statements of policy relating to the enforcement powers of the Bank of England, and includes:
- procedures regarding enforcement statutory notices and decision making;
- policy on the imposition and amount of financial penalties;
- policy on the imposition and period of suspensions and restrictions;
- policy on the settlement of cases involving enforcement action;
- policy on the publication of disciplinary and other enforcement actions; and
- policy on the conduct of interviews including at the request of overseas regulators.
The Bank statement of policy incorporates a revised version of the Prudential Regulation Authority's (PRA) approach to enforcement (first published 1 April 2013), as well as providing an overview of the Bank's wider investigatory and enforcement powers under the various statutory regimes for which it has regulatory responsibility. These include:
- Prudential supervision by the PRA;
- Supervision of Financial Market Infrastructures (FMIs);
- Resolution; and
- The Scottish and Northern Ireland banknotes regime.