Regulation – TC Alexander Sloan Credit Union Services

PRA Release CUSO Rules

Steven Cunningham — Sun, 22 Feb 2026 16:16:25 +0000

On 20 February 2026, the PRA released PS 5/26: Credit Union Service Organisations (CUSO). It follows consultation paper 13/25 which was released last year. The policy statement makes changes to the Credit Union rulebook and SS2/23. The Credit Union rulebook now allows Credit Unions to invest in an entity to allow it to provide ancillary …

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CRS: Are you registered?

Steven Cunningham — Thu, 29 Jan 2026 16:59:55 +0000

The International Tax Compliance (Amendment) Regulations 2025 was introduced on 24 June 2025 and brings in changes to the Common Reporting Standard (CRS). We had issued an article on the proposals for the new legislation in January 2025 which can be found here. As discussed in our previous article the regulations require all UK “Reporting …

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FACTA- Are you still exempt?

Daniel Arrowsmith — Thu, 29 Jan 2026 15:58:45 +0000

What is it? The Foreign Account Tax Compliance Act (FATCA) is a piece of legislation introduced by the United States (US) in 2010 which was then implemented in the UK in 2012 as part of a UK-US Inter-Government Agreement (IGA) to improve international tax compliance. Its primary goal is to help prevent tax evasion by …

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PRA and FCA Announce Plans for Mutual Sector

Steven Cunningham — Fri, 05 Dec 2025 18:50:16 +0000

The FCA and PRA today published their Mutuals Landscape Report. The regulators are planning to support the mutuals sector in a number of ways including: A new FCA Mutual Societies Development Unit- This unit will act as a central hub to help mutuals navigate policy and legislative changes. Both regulators will carry out a review …

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PRA Review of the Sector 2025

Steven Cunningham — Fri, 28 Nov 2025 18:48:57 +0000

PRA Review of the Sector 2025 The PRA have issued their 2025 review of the sector letter for credit unions with turnover up to £50million. The letter covers 2 main risks to the credit union sector: Operational Resilience- The PRA’s thematic work in 2026 will focus on supporting credit unions strengthen their operational resilience. Reliance …

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