In correspondence between the CEO of Prudential Regulatory Authority (PRA)
and RABF, Andrew Bailey has clarified for the wholly own subsidiaries of banks
to be regulated by the PRA as they are exempt at present is a change to the
Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ('the
RAO').
We are adjusting the campaign to achieve what is effectively a minor amendment - this is going to be the hard bit.
![http://www.maxfarquar.com/wp-content/uploads/2011/10/lloyds-TSB-Logo-downgraded1.jpg](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_uEJwK98Lkpkayl4AS833FWNkj-LQPfwSiexxEXiM7vaa7ryUhn77GVbElsq99u8PxNxzI5ExjSji7N_B1F5Di1k0Onb1tHPP1URFkyvqla6LjEe9yt6WpCri5gD6GxpR7XyWC0wMCfiiPwOU4o3mnbaCYrcpWxUw=s0-d)
Gone will be the crime of banks ripping of their clients and hiding behind
it's nothing to do with us!
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