Prudential Regulation Authority Rulebook

4.1

In determining whether it is appropriate to withdraw a designation, the PRA will have regard to the same factors as it does when deciding to designate an Eligible Investment Firm.

4.2

The PRA would not normally be minded to withdraw a designation, however, unless the firm had been subject to prudential supervision by the PRA for at least one year after designation (except where there is a de-merger or a sale). This is also designed to guard against ‘volatility in designation’, where a firm switches between prudential supervisors on a frequent basis.