1A

In the report the PRA must also report in general terms on—

a

the extent to which, in its opinion, ring-fenced bodies have complied with the ring-fencing provisions,

b

steps taken by ring-fenced bodies in order to comply with the ring-fencing provisions,

c

steps taken by it to enforce the ring-fencing provisions,

d

the extent to which ring-fenced bodies are carrying on the regulated activity of dealing in investments as principal (whether in the United Kingdom or elsewhere) in circumstances where as a result of an order under section 142D(2) that activity is not an excluded activity,

e

the extent to which ring-fenced bodies are carrying on activities that would be excluded activities by virtue of an order under section 142D(4) but for an exemption or exclusion made by such an order,

f

the extent to which ring-fenced bodies are doing things that they would be prohibited from doing by an order under section 142E but for an exemption made by such an order, and

g

the extent to which ring-fenced bodies appear to it to have acted in accordance with any guidance which it has given to ring-fenced bodies and which relates to the operation of the ring-fencing provisions.

1B

In sub-paragraph (1A)—

a

references to “ring-fenced bodies” relate only to ring-fenced bodies that are PRA-authorised persons, and

b

“the ring-fencing provisions” means ring-fencing rules and the duty imposed as a result of section 142G.