Chancellor appoints David Soanes and Niamh Moloney as members of the Prudential Regulation Committee
24 January 2025
The Chancellor of the Exchequer, Jeremy Hunt, has appointed David Soanes and Niamh Moloney as members of the Prudential Regulation Committee (PRC).
The PRC is an independent body of the Bank of England that is responsible for the prudential regulation of banks, building societies, credit unions, insurers and major investment firms in the UK. It is responsible for setting and enforcing prudential rules and standards, and for monitoring and assessing the risks to the UK financial system.
David Soanes is a former partner at Clifford Chance LLP, where he was head of the firm’s financial services regulatory practice. He is also a former member of the Bank of England’s Financial Policy Committee.
Niamh Moloney is the former CEO of M&G Prudential. She is also a former member of the UK’s Financial Conduct Authority’s Practitioner Panel and the European Insurance and Occupational Pensions Authority’s Risk Committee.
The Chancellor said:
“I am delighted to appoint David Soanes and Niamh Moloney to the Prudential Regulation Committee. They are both highly experienced and respected figures in the financial services industry, and I am confident that they will make a valuable contribution to the PRC’s work.”
The appointments of David Soanes and Niamh Moloney will take effect from 1 March 2025.
Notes to editors
- The PRC is an independent body of the Bank of England that is responsible for the prudential regulation of banks, building societies, credit unions, insurers and major investment firms in the UK.
- The PRC’s objectives are to promote the safety and soundness of the UK financial system, to contribute to the protection of policyholders, depositors and other creditors, and to contribute to the maintenance of a stable financial system.
- The PRC is made up of 12 members, including the Governor and Deputy Governors of the Bank of England, the Chairman and Chief Executive Officer of the Financial Conduct Authority, and six independent members.
- David Soanes is a former partner at Clifford Chance LLP, where he was head of the firm’s financial services regulatory practice. He is also a former member of the Bank of England’s Financial Policy Committee.
- Niamh Moloney is the former CEO of M&G Prudential. She is also a former member of the UK’s Financial Conduct Authority’s Practitioner Panel and the European Insurance and Occupational Pensions Authority’s Risk Committee.
Chancellor appoints David Soanes and Niamh Moloney as members of the Prudential Regulation Committee
The AI has provided us with the news.
I’ve asked Google Gemini the following question, and here’s its response.
UK News and communications a new article on 2025-01-24 18:00 titled “Chancellor appoints David Soanes and Niamh Moloney as members of the Prudential Regulation Committee”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
112