UK PRA Final Policy On Reforms To Credit Union Investment Rules

The UK Prudential Regulation Authority (PRA) has published policy statement PS5/26, finalising amendments to its framework for credit unions wishing to invest in credit union service organisations (CUSOs). Following its June 2025 consultation, the PRA largely finalised its policy as consulted on, including: (i) amending the Credit Unions Part of the PRA Rulebook to clarify that credit unions may invest in CUSOs; (ii) updating Supervisory Statement (SS)2/23 to add a new chapter setting out... By: A&O Shearman